7 Ways Melio Can Maximize Your Small Business Cash Flow

Key takeaways

• Schedule payments and pay bills by card so you hold on to cash longer and pay closer to the due date.
• Track your cash flow in real time from one dashboard so you always know where you stand.
• Set up approval workflows to catch errors and reduce fraud before money leaves your account.
• Send invoices with a payment link so customers can pay you faster and improve your incoming cash flow.

Cash flow management is the practice of tracking and controlling the money moving in and out of your business so you always have enough on hand. These seven tactics help you do it.

Schedule payments so you never pay too early or too late

Scheduling payments lets you choose exactly when funds leave your account, so you hold on to cash longer. Melio shows when each payment will arrive, based on how you pay (ACH or credit card) and how your vendor gets paid (check or bank deposit). Pay as close to the due date as possible to avoid late fees and early-payment cash crunches.

Pay business bills with a credit card to free up cash

Melio lets you pay any business bill with a credit card, even where cards are not accepted. Melio delivers the payment as a check or bank deposit (ACH), so expenses like rent, utilities, and freelancers can wait until your next billing cycle. Credit card payments have a 2.9% fee.

Paying business bills by card lets you:

• Defer payments to your next credit card billing cycle.
• Free up cash flow for other needs and unexpected expenses.
• Earn rewards like cashback and points.

Track and monitor your cash flow in real time

Tracking payments in real time helps you understand your cash flow and make decisions based on current information. Melio lets you track the status of every payment from the moment it’s scheduled, so there are no forgotten bills or oversights. Sharing accurate arrival updates also builds trust with vendors, who may then offer better payment terms that help you hold on to cash longer.

Manage all your payments from one place

Managing payments from one place keeps you in control of cash flow. Instead of juggling checks, bank transfers, and cards, Melio handles all of it in a single dashboard.

Melio’s dashboard lets you send and receive business payments in an easy, flexible way. Other automation tools are often built for finance professionals and overwhelming for small business owners and office admins.

Set up payment approval workflows

Approval workflows put a check on every dollar before it leaves. Set internal rules to review and approve bills first, which improves control, reduces errors, and lowers fraud risk. Custom approval workflows are available on Melio’s paid plans, starting with the Core plan, to make your payment process more efficient.

Automate paperwork so you can focus on your business

Automating your payment process frees up hours each month that you would otherwise spend paying bills by hand. With easy onboarding, a user-friendly interface, and access from mobile and desktop, Melio speeds up your payment process. So you can focus on growing your business and cash flow instead of paperwork.

Make it easy for customers to pay you

An easy, frictionless payment flow helps your B2B customers pay you on time, which improves your fulfillment rate and cash flow. With Melio, you get accounts payable and accounts receivable tools in one place. Melio’s free Go plan includes five free ACH payments a month, with paid plans for higher volumes.

You can send B2B customers invoices with a payment link. The link takes them through a seamless online process where they choose how and when to pay, and you receive funds on time. No more “check is in the mail.”

Take control of your small business cash flow with Melio

Having a healthy cash flow can be the difference between keeping your business open or shutting your doors.

Melio is built for the accounts payable and accounts receivable needs of small and mid-sized businesses. Its free Go plan includes five free ACH payments a month, plus paid plans for higher volumes, so you can manage and maximize your cash flow.

Ready to take control of your cash flow? Sign up for Melio and start paying and getting paid your way.

Small business cash flow management FAQs