CLIENTS NOT PAYING INVOICES? 5 TIPS TO GET YOUR MONEY
The issue of unpaid invoices is quite common in businesses. Few things are more disappointing than not getting paid for a service which you have rendered effectively. Sometimes, you have to wait for months to get your invoice paid, and this would definitely have an adverse effect on the running of your business. After all, businesses thrive when friends and family pay their bills. Want to get your invoices paid on time and without hassle? Why not try the five tips listed below.
- Maintain Great Relationship With Clients
Want to get paid earlier? Then you should try and maintain great relationships with clients. If you have very good working relationship with clients, you will not only be viewed as a client, but also a friend or family. It is known that folks seem to always have the best intention for their friends and family. This means you would be on top of their priority list when making payments, thereby getting your invoices paid as and when due.
- Maintain Deadlines In Filing Your Invoice
It is customary for many organizations to have a deadline for the filing of invoices. If you wish to get paid as and when due, then you are best advised to follow the set rules. Why on earth would your clients want to respect deadline in making payments when you can’t do same in filing your invoice? Maintaining the deadline would make you look punctual and serious, and would definitely help you in getting paid on time.
- Adopt Incentivized Invoicing
The truth is, everyone loves to take advantage of any sort of financial leverage they can get. If you wish to get paid on time, you can add some incentives to your invoices. For instance, promising a client 1.5% off the total amount due for paying early would ensure early compliance.
- Establish Clear Payment Time
It is important to establish a clear payment time when sending out your invoices. You must be clear with the due date of the invoice, how much you are owed, if the payment can be made in full or part payment. All these terms would lead to clarity and enhance your getting paid on time.
- Send Friendly Reminders At Intervals
Ensure to send friendly and polite reminders to your clients at intervals before the due date of your invoice. This would ensure that there would not be any excuse of not remembering to pay up on the due date.
Getting your invoices paid is important for the growth of your business and maintaining adequate cash flow, and you would do well by following these easy steps to enhance your chances of getting paid on time.