A business acquisition needs a post-closing cash plan as well as a purchase-price agreement. Alianza Partners encourages buyers and sellers to clarify who collects pre-closing receivables, which obligations transfer and how payroll, benefits and supplier payments will be covered after handoff.
Do not treat every dollar on the acquired balance sheet as immediately usable cash. Test a delayed customer payment and keep working-capital assumptions visible during diligence and professional review.
Don McClain’s November cash-timing analysis provides a practical starting point for this ownership conversation. Begin with the transaction stage, operating handoff and unresolved cash responsibilities, not a promised closing outcome.
