3 Tips for Getting Invoices Paid on Time

Any good entrepreneur knows the importance of cash flow. Having to front costs for a project while waiting for a customer to pay can be painful, like the blood of your company is being drained. Solidifying a payment system protects you and the customer. You don’t want to be the nag always asking for payment, so instead use new tech to your advantage.

Here are our 3 tips for getting your invoices paid on time:

Send a timely invoice: You want to get paid in a timely manner, and your customer wants to pay for your product or services quickly as well. More than likely, your customer is concerned about cash flow, too. Be respectful and send an invoice within a predetermined amount of time after services rendered. With regular customers this will usually be a monthly system.

Use time-tracking software: You want to be sure you’re billing your customer for all the work completed within a billing cycle. Using a time-tracking software, or even just a spreadsheet, will be very helpful in this regard. Remember, you want to show your customers respect.

Automatic billing: As part of your onboarding process, add a client into your online billing system. If you select the correct one, the system will send invoices automatically and allow customers to pay online, through the invoice. Most online billing systems will automatically follow-up after the due date, insuring the customer won’t forget to pay you. With this system, you don’t have to spend hours following up with clients and carefully wording emails, it’s all automated.

If you’re getting your invoices paid on time and are still feeling stressed about cash flow, it may be time to bring in a bookkeeper. We have plans for every business, get in touch today! ​