Review your ‘Terms and Conditions’ and get paid on time
We all know just how frustrating it is to spend time chasing clients who don’t pay on time. It feels annoying that you’ve provided your service to an excellent standard and the person/company receiving it doesn’t give a thought to paying your bill.
I do hope you all have strict payment terms on your terms and conditions stating when payment is due, with an explanation of what will happen if they are not met. The exact same on your invoice, stating your payment terms.
It’s a given that if you have 14 day payment terms, companies will likely take you to the 30 days. But they shouldn’t make you wait any longer. If you’re a small business, cash flow is king. It can take just a couple of late paying clients to cause a cash flow problem, especially if they push it over 2 or 3 months.
If your practice or business has associates or employees, we all like to make sure they get paid on time. Having late paying clients puts stressful pressure on your cash flow, having to pay your associates or employees beforehand.
If you feel you need your terms and conditions or invoice template reviewing, we will do this, along with making sure you have a privacy policy added too.