How To Make Sure You Keep Up With Invoicing In 2019
Did someone once say ‘a successful business always collects its payments on time’? If they didn’t, then we’re saying it because collecting payments when they are due is essential to maintaining cashflow in a business. Here are out top tips to make sure you start the year of right.
Keep detailed records about your customers
Whether your customers are new old, trusted or untrusted you should keep a detailed record of when payments are due. If you haven’t spoken to them in a while give them a call and ask them how things are going. You can learn a lot simply by talking to your customers and it will be a good excuse for a catch-up.
Invoice in a timely fashion
The turn of the year is a tricky time for small business owners. Many will be rushing to get tax returns in on time while others will be trying to pick up with clients who may still be skiing or on some exotic beach. Ensure you start the process of sending out invoices and then chase them up immediately if deadlines are missed.
Don’t panic
The last thing you want to do is panic if you find that invoices haven’t been paid. The important thing is to maintain the lines of communication and let your client know you need your invoice to be settled. If the debt has been hanging around since 2018, it may be time to call a debt recovery company.