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Advice

8 Quick Payment Terms and Conditions Tips for Small Businesses

Picture this: it’s your end of year. You’re poring over your spreadsheets, and things just aren’t adding up. You’re pulling your hair out, wondering where you went wrong in your small business’ accounting this year.

Finally, you realize: it’s not your accounting that’s off, it’s your payments. Specifically, you still have a handful of active invoices.

64% of small businesses have invoices that will go unpaid for at least 60 days. Late invoices lead to awkward conversations with customers and frustration over your business’ finances. You can do better.

By now, you might be asking yourself: how can I avoid this in the future? It’s easy. Payment terms and conditions.

These are essential for mapping out your business’ income and customer relationships simply and professionally. If you don’t have payment terms and conditions in place, it’s time to set yourself up for success.

Keep reading for eight tips on how.

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Kugelschreiber und Tastatur auf Tabellen
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6 Reasons Double Invoicing Happens and How to Avoid It

Small business owners have a lot to handle on their own financially. Many find themselves handling billing and invoicing along with other management duties.

Writing an invoice can be detailed enough, but things can get complicated when you have to send multiple invoices to people.

Double invoicing is a problem that could cost you time and money you can’t spare. Luckily, we’re here to help you get your invoices under control.
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Advice

What is an Invoice? Discussing the Essential Elements of an Effective Invoice

No matter what industry you’re in, one of the most important documents you’ll send (and receive) is an invoice. And whether your business is well underway or just getting started, chances are that some people in your organization are still not entirely sure about what is an invoice?

This crucial document outlines the buyer, the seller, the product or services exchanged, and how to pay the bill. Below we identify the various elements of an effective invoice, and the importance of each.
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