Cash flow is the lifeblood of any business, and late payments can put unnecessary strain on your finances. When invoices go unpaid, it becomes harder to cover expenses, invest in growth, and keep operations running smoothly.
The good news? A few simple changes can help ensure you get paid on time.
1. Invoice Promptly with Clear Payment Terms
The sooner you send an invoice, the sooner you’re likely to get paid. Rather than waiting, issue invoices immediately upon completing the work. For ongoing clients, automated recurring invoices can help maintain consistency.
Be clear about payment terms—whether it’s due upon receipt, Net 7, 14, or 30 days—and consider adding late fees to encourage timely payments.
Using invoicing software makes it easier to track due dates and automate reminders, reducing the risk of delays.
2. Make Payments Easy
If the payment process is complicated, clients may put it off. Offering multiple payment options—such as credit card, bank transfer, or PayPal—removes barriers and speeds up the process. Adding a direct payment link to your invoice makes it even easier.
For larger invoices, instalment plans can help clients manage payments while keeping your cash flow steady.
3. Follow Up on Overdue Invoices
Even the most organised clients can overlook an invoice. Sending automated reminders before and after the due date helps keep payments on track.
If an invoice becomes overdue, a friendly follow-up email or phone call often resolves the issue quickly. For clients with a history of late payments, adjusting their payment terms—such as requiring upfront deposits or shorter due dates—can help prevent ongoing delays.
By invoicing promptly, offering convenient payment options, and following up consistently, you can improve cash flow and reduce the time spent chasing payments.
Need help managing your business finances? Get in touch with me!
Cheers
Lauren :)
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