Video: 2 Tips for Collecting Payments Faster
One of the most dreaded tasks of any small business owner is chasing down their customers for payments. If you are in the type of business where you are sending out invoices after a job is done, we’ve got two quick tips for you to help you get paid quicker.
Tip 1: Get the invoice in front of the customer as soon as possible
Most small business accounting software will allow you to send out invoices from your phone or tablet. There really isn’t any reason to wait until the end of the week to send out that invoice. Remember, the faster you get that invoice in front of a customer the sooner you are going to get paid.
Tip 2: Set up automatic reminders to go out when payments are due
It’s usually not that your customers are avoiding you so that they don’t have to pay you. Most of the time they don’t know that a payment is due in the first place. Set up an email to go out whenever a payment is due or whenever a payment is overdue. Get those reminders out early and often to make sure they know and you can get paid faster.