You’ve filed your taxes, right? Or at least you filed for an extension and somehow came up with the money to pay the government. Now, while the memory is still fresh of how painful – and time-consuming – it was to get your financial information and cash together, let’s talk about how you can avoid these problems next year and sleep better all year round.

Few things in business are more stressful than not being able to pay your bills. Let’s be clear: Even if you’re profitable, you can be in financial trouble due to poor money management. My first client as a management consultant was a floral company that was profitable. Nevertheless, they had terrible credit, often couldn’t pay bills, and eventually the partners threw in the towel.

On the other hand, you can actually not be making a profit – especially if yours is a growing business – and still have good credit, excellent relations with vendors and be able to meet your financial obligations. It’s all about how you manage your money, not just how much money you have.

So let’s spring clean your financial systems. A few simple steps and you’ll be on your way to an excellent credit rating, a great relationship with a bank and a good night’s sleep:

1. Pay bills on time every month. Notice I did not say “Pay your bills in full every month.” I know that’s not necessarily realistic. I juggled credit card payments for many years when I started my business. But every month, every creditor got paid at least the minimum amount – on time. To make sure this happens, set up systems, such as automatic bill payments, particularly for key accounts.

2. Send out your invoices on time every month. The last thing on many entrepreneurs’ “to-do” list is to send out bills to clients or customers. But when you bill clients late, it encourages them to pay you late. Improve your cash flow by sending out your invoices immediately when someone incurs a debt, and certainly no less frequently than monthly.

3. Take your banker to lunch. Yes, I know, they should be taking you to lunch (so, OK, let them pick up the check). It’s important to have a good relationship with a business banker who can learn about your industry and business and understand your ups and downs. Don’t have a banker? Time to get one. Establish a line of credit to access money if times get tough or opportunities arise.

4. Get a free credit report. Your credit history is crucial! Most small businesses – and all new businesses – get credit based on the owner’s credit-worthiness. Lenders check credit scores whether you’re applying for a line of credit, loan, credit card, mortgage, equipment loan, even a lease. You’re entitled to one free credit report per year from each of the three major credit reporting agencies. But there’s only one genuine Web site for getting free reports, regardless of all the commercials you hear – www.AnnualCreditReport.com. At least once a year, check your credit reports so you can clear up any inaccuracies and keep your credit clean.

5. Go after overdue accounts – especially big ones. If you’ve provided goods or services, you deserve to be paid and you can’t afford to be in the lending business. Every month, spend some time collecting any overdue bills.

6. Limit the amount of credit you give to large corporations. Recent news reports indicate that there’s likely to be a rash of big-business bankruptcies. Having gone through a major partner’s bankruptcy last year, I know how incredibly disrupting – potentially disastrous – a big company’s bankruptcy can be. Never allow yourself to be in a position where a big corporation’s debt to you can put you under.

7. Get a simple accounting software program. A computerized bookkeeping program may seem like a bit more work when you’re entering data in, but when you want to get information out (like at tax time), it’s a must. The other day, with a few keystrokes, we charted our academic sales by month for the last few years, so we can forecast when we’re likely to have shortages.

Believe me, a few simple steps now to get your money management systems in order can make next April a whole lot more pleasant.

Opinions expressed in columns are not necessarily those of The Eureka Reporter or its staff.