Businesses often suffer from invoices not being paid on time. This is especially the case as many businesses struggle in a rocky economy brought about by the pandemic. So, how can you ensure that your invoices are paid on time? Here are some friendly but firm methods you can apply to make sure you get paid:

Remember to invoice promptly – The longer it takes to send an invoice leads to an inevitable delay in receiving payment. It’s easier said than done, particularly for small businesses who have a million and one other things to remember to do. However, getting on top of your invoicing means running a tighter ship and not getting lax with your billing. For help from Accountants Swindon, go to a site like Chippendale and Clark Accountants Swindon

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Extra costs – If a project is likely to incur additional costs then always let the client know prior to invoicing. A surprise bill is likely to go unpaid while they question the additional costs. It’s always preferable to speak to the client as soon as unexpected costs arise so everyone is kept in the loop and there are no nasty surprises.

Make it easy for clients to pay – This is such a simple concept but one that is surprisingly overlooked by many businesses. Consider software that allows a pay now button to appear on the invoice so you can be paid directly that way. A business might also consider apps on devices that allow for on-site payments to be taken as there is no need to carry around a bulky card payment terminal any longer. Don’t forget to include your bank details on invoices – it’s shocking how many businesses forget to do this!

Upfront payment – There is no hard and fast rule that invoices must only be sent after work has been completed. Some businesses require payment upfront before any work is done. If a client is not comfortable with upfront payments, then consider asking for a deposit or part payment instead.

Build up a relationship with accounts payable – It can never hurt to build a good relationship with the person who pays the invoices at your client’s accounts payable team. By getting the contact details of the person responsible for paying invoices, you can develop a rapport that might help your invoices from being delayed in the future.

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Know their processes – It can be very useful to understand the processes involved in the accounts payable at your client’s end. Will it speed things up if you include certain details? Is the invoice being sent to the right place? Who is responsible for signing off on payments? When you have a clearer picture, it can reveal areas where delays might be occurring for easily fixable reasons.

Payment plans – If a client has debt building up, then it’s important to stop any work until the payments are received. It might also be wise to offer them a payment plan to deal with accrued debt.

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