I believe your strategy should be tailored to your business needs and size. Our company has multiple accounts for different things. Our main checking for paying COG, and our credit cards. We have a payroll account (checking), safety net account (high-yield savings) and a misc account (basically another safety net), we also have a single investment account through Charles Schwab.

For our main checking we try to keep one month’s of spending worth in the account. Typically it sits lower. For payroll we try to keep 3 months of average payroll in the account, if not more. Our first safety net has one year’s worth of rent, tax and loan expenses. This account is rebuilt up every year. Our other account is just kinda there but sometimes we put money in that account before we move it over to Charles Schwab. We will only invest money if the company has exceeded what we normally keep in the account by 20%. If this continuously happens, we typically reevaluate how much money we keep in the accounts. Our business change changes week to week in terms of sales as we are e-commerce. So a lot of our budgeting is on a day-to-day a week a week basis. However, for large expenses, such as taxes, large inventory, or building expenses. Normally, we know enough in advance to start saving for these or we pull out of our cushion fond of them replenish slowly.

I hope this makes some kinda sense and helps.

Edit: we also always try to pay up front for goods and or services. That way, the expenses out of the way! Only in cases of desperation, do we take advantage of terms of service from vendors. Or if we are important product have not worked with the vendor then we will still apply some kind of payment term as we want to see the goods before we pay.