Having trouble getting customers to pay on time? There are some basic approaches to dealing with this.
One of the most frustrating parts of running a small business can be the way some clients take ages to pay.
It's not that late payments aren't a problem for large business, but when you're running your own show it's hard to avoid taking these debts personally.
With this in mind, we notice cloud accounting software provider Saasu has some tips for getting the dollars in more quickly. They have published 10 invoicing tips to get paid sooner, and they all sound sensible to us.
Our favourite suggestion is to get the details right (if the invoice goes to the wrong person, delays are almost inevitable). Also, Saasu suggests to send the invoice as soon as possible after the transaction - that doesn't help with all customers, but if a client only pays its bills once a fortnight then a day's delay in invoicing can mean waiting an extra two weeks for payment.
They also suggest to arrange for statements to be sent automatically as reminders of outstanding invoices.
Have some tips of your own? Add your comment below.