Tips For Your Business

15-Feb-12 Invoicing
It's surprising the number of businesses we come across who don't keep a close watch on their invoicing. You've done the work but so many managers are slow to invoice, to follow up on late payments and to track debtors who are in arrears. Make she you have a report each Monday to review of who your major debtors are. how much they owe and have an action plan to address the issues. Call them. If necessary arrange partial payment. The client will see that you're willing to offer them some slack and in return you may get more business.

If you have many small clients then make sure they don't build up their debts. We had one client recently with over 5,000 debtors of under $50 but if they were all paid that would equal the company's monthly cashflow!