Get the cash flowing in
Everyone wants to end the year with their business in the best possible financial position. Today you can take a couple of steps towards ensuring a healthy financial position.
Depending on your invoicing schedule you probably have work that needs invoicing. If you are to have any hope of getting the money in before the Christmas break then make some time today to send those invoices out. Don’t leave it until the 15th or worse still, the week before Christmas when your client’s energies (and cash) are focused elsewhere.
No one relishes this job but it has to be done. Take time to look over your outstandings and chase up those invoices that have not yet been paid.
I suggest to my clients to set up an accounts@ email address for their business and send all accounts related correspondence from there. It takes the ick-factor out of chasing your debtors as the email doesn’t appear to be coming directly from you.
Keep Track & Follow Up
If a client tells you that you will be paid on the 15th then make a note in your diary to check. If payment does not happen then then get “accounts” to send a friendly reminder. You know what they say about the squeaky wheel and that money should be spending the silly season sitting in your business account, not theirs!