Without cash, you cannot pay your bills! Not being able to pay your bills will inevitably lead to company failure, even if debts mount up slowly. Understanding when cash is coming in and consequently required to go out is crucial to keeping your startup alive. You need to keep track of who owes you money, and who you owe money to. Laying the proper groundwork with the help of startup accountants will prepare you for managing cash flow efficiently and effectively, including systems for: Issuing and receipting invoices Chasing late payments Paying bills