Hey, Profit Hackers — I’m Jeremy Lott with Foundation Accounting and Consulting.
In this episode, I’m walking through the Accounts Payable and Cash Disbursements Policy — the real-world rules that keep your payments organized, prevent costly mistakes, and protect your cash.
If you don’t have a written system for how bills get entered, approved, paid, and tracked, you’re leaving your business exposed. We talk through practical safeguards like segregation of duties (so one person isn’t controlling the whole money flow), keeping clean records across your accounting and job costing tools, and building strong vendor relationships so you can negotiate better terms and protect your cash position.
This one is about building structure so the cash going out of your company is controlled — not chaotic.
00:00 – Why an AP policy matters
00:59 – The key items your AP policy should cover
01:52 – The story that sets up why systems matter
15:18 – Using liens to protect payment timing
17:51 – Segregation of duties (how to prevent money walking away)
19:12 – Record-keeping: QuickBooks + job costing software alignment
20:25 – Vendor relations: terms, pricing, and setting clear expectations
26:27 – Wrap-up and next steps
💬What’s the weakest part of your bill-pay process right now — approvals, timing, record-keeping, or vendor communication?
