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If I run a company that has a payroll of millions, where do I keep that cash until I can issue all the checks? It's not like I'm going to sell a bunch of bonds
by ChancyChance 4y ago
If I run a company that has a payroll of millions, where do I keep that cash until I can issue all the checks? It's not like I'm going to sell a bunch of bonds every two weeks to meet payroll. I'll never have to worry about this, but with the tiny bit I've learned in the few days... now I'm curious to understand how large amounts of cash are kept on hand for situations like this.
- yial 4y agoOff the top of my head: MaxSafe - https://www.wintrust.com/business-solutions/mid-market/banking/maxsafe.html https://www.wintrust.com/business-solutions/mid-market/banki... A cash management account - https://www.forbes.com/advisor/banking/what-is-a-cash-management-account/ https://www.forbes.com/advisor/banking/what-is-a-cash-manage... Or Many banks participate in IntraFi https://www.intrafinetworkdeposits.com/how-it-works/ https://www.intrafinetworkdeposits.com/how-it-works/