Five ways to increase your chances of getting paid on time:
- Be clear at the start: This is the time when goodwill is high and your negotiating position is strongest. Secure explicit agreement to your payment terms and conditions before you start work rather than assume the client has read and accepted them.
- Strike while the iron’s hot: Invoice as soon as possible after you’ve provided the goods or services. Don’t wait until the end of the month.
- Make it easy for customers to pay: Ensure the invoice is as clear as possible, Include a description of the product or service, the person who requested the work, the date of invoice, the invoice number and the date you expect to get paid.
- Find out if there’s a specific problem: It may be that the customer thinks your company hasn’t fulfilled the agreement in some way. Before considering legal action, try to find out if there is an underlying issue that can be resolved.
- Keep it friendly: Always remain polite and friendly, no matter how frustrated you feel, and never send an email chasing payment when you’re angry. You’re far more likely to get paid and win repeat business if you stay on good terms.
