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I am curious if there are any agencies that have a large $ amount in media revenue each month, that have extended their closing date from the 10th of the month in order to collect media vendors invoices? What is the typical closing date agencies work with?
- Bill media to client 45 days before issue distribution (and their billing).
- Put media bill on credit card and take 2% 10-day discount and accrue travel miles
- Receive credit card bill 30 days(or sometime) later and pay at terms (maybe 30 days)
That gives us a float of anywhere from 60-90 days. Media love us (10-day pay), client's love us as we pay our bills. And, we save bunches of money with discount and accrue millions of miles. Only caveat: You have to pay your credit card bill each month. Have been doing so for 30 years.