By Julie Keen. Posted On 5 Feb 2018. Last Updated 5 Feb 2018.
Get your invoices paid quicker.
Running a business is no easy task and as they say, “cash is king!” Lots of businesses experience cash flow issues but having a clear plan when it comes to you getting paid, will help to eliminate these issues.
Be clear from the start
Always be clear from the start on your payment terms, negotiate a term that works well and one that you are happy with. Be clear on any fees, payment terms and make sure your clients are aware of how long they have to pay.
Add an incentive
To help ensure prompt payment, you may think introducing an incentive works well for your business. For example, you could offer a small % discount if the invoice is paid within a certain number of days. This will encourage the client to pay early as they will be benefiting too.
Not everyone likes to use the same methods of payments. Offer a number of payment solutions to your clients, so they can opt for the one they feel most comfortable with. Options you could look to include are Paypal, bacs, direct debit or cash.
Using proper invoicing software will not only help you keep a track of what is happening, but it will help you get paid a lot quicker. Sending invoices in the post adds days of extra time on getting paid. If you use software, you can email this across to your client immediately and you could even add in a ‘pay now’ link which is an option on some software’s out there.
No matter if you are sending an invoice for the first time or 5th time in a bid to chase for payment, always use polite language.
Need help with your invoicing process or simply don't have the time, contact us on 01472 289541 or email email@example.com and we can help you get paid on time or quicker.