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Cashflow tip – Improve Cashflow by your invoicing!

images/CashFlow.jpgAs a business owner, you, like many may be uncomfortable about asking to be paid, yet the top way to improving your cashflow is by invoicing PROMPTLY!. In running a business, (especially for service businesses) if you don’t invoice promptly and follow that up to ensure you collect payment promptly (which is a top cause of a cash crisis in the first place), then consider the following consequences –

Consequences for your cashflow to invoice slowly:

1.     Clients can quickly forget what they owe you;

2.     They are less likely to remember how much they loved your work and pay you promptly;

3.     They may conclude that you do not expect quick payment and will take their time in paying their money.

Some ACTION steps to take:

1.     As soon as possible, issue invoices at the time or soon after services are delivered;

2.     Send your invoice by email to speed the process;

3.     If you can’t issue immediately, be sure to issue your invoices weekly, or at least twice per month on designated days, such as on the 15th and the last day of each month;

4.     Do it like clockwork – it will help to even out your cashflow.

Take-away message and case study - Create the habit - invoice quickly and often!

Part of our service is assistance with cashflow budgets, debtor collection and reviewing supplier costs and terms. One of our clients said the business finance is now in the BEST shape it has ever been – for our 4-5 hrs work weekly involves managing the invoices, payment follow up unique method and now supplier payments! The owner now can catch up on quoting jobs and finalizing the sale to grow the business.

Could this assist you in your business and let you focus on your best skills and on running the business?

If you would like to speak with these clients, email me and I’ll supply contact details!

Get a FREE 30 min answer to your query, and FREE ongoing email or phone support – No-one offers as much!

Call and you also get FREE “Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right!

Email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 0407 361 596 Australia

“Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right!
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Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software

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Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software
Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software
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