As a small business owner, life will be a lot less stressful if your customers pay you faster.
Here are some tips to speed up the process of getting paid – which can dramatically improve your Cashflow. First Get a good online accounts app like Xero.
- Invoice immediately
- Email your invoices
- Write detailed descriptions on your invoices
- Set your own payment terms
- Encourage direct payments to your bank account
- Use your mobile phone to access your accounting system during the day
- Have someone else call your debtors
- Send statements
- Use your Accounts Receivable reports
If you would like to test drive Xero please contact me at 01 6684411