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.
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.
This modern day has left many options to send invoices. This can be a benefit, but it can also be a disadvantage.
If your client isn’t used to using a specific invoicing system, this may affect your income. Or maybe your client has their own invoice management system you’re not used to.
So which invoicing system do you use to improve invoice management? You specifically want to look for an invoicing program that easily allows you to transfer funds that’s cheap and convenient to use.
So which programs help the process of invoice management? If you rely on invoices for payments, it’s best to be knowledgeable in several invoicing processes. Take a look at these 8 invoicing programs and methods.