The 5 Best Ways You Can Get Your Invoices Paid Faster Jun 15, 2017Views: 545
Landing clients can be a difficult task in and of itself. It requires a lot of investment, research and effort.
However, it becomes really frustrating when, after you've got the client and completed the work, the client seems to have problems paying on time.
This can cause a lot of problems for you and your business, which is why you need to make sure you can get your invoices paid faster every time. These are the 5 best ways to do that.
1. Make sure to add late payment fees
You should not be so flexible with your clients that you allow them to pay any time they want. Generally, invoices should be paid within 30 days. Anything after that will call for a late payment fee.
However, many businesses and freelancers are reluctant to implement that step for fear of losing their clients. This is a bad argument.
After all, you've delivered the goods or services, and therefore you should be paid in a respectable amount of time. That's why you need to institute a late payment fee (about 2-5% of the invoice amount) to incentivise your clients to pay faster.
2. Send out your invoices faster
One important thing to admit is that, while there are many external causes for invoices being paid late, it's still likely that the freelancer is sending the invoices out late.
This will naturally cause your invoices to be held up longer in the payment processes, or even be delayed until the next payment cycle.
That is bad for your business, and therefore you need to make sure your invoices are being submitted on time, every time.
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