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Invoicing tips to improve your cash-flow

In these tight times cash is king. And when it comes to cash, timing is everything.

All small business owners experience the stresses of managing cashflow. You may have $5k in the bank, sell $30k of products and services in a month, spending $20k worth of costs, but still run out of cash. That’s the issue of cashflow. When do you get paid?

As a small business owner, life will be a lot less stressful if your customers pay you faster.

Here is a collection of tips to speed up the process of getting paid – which can dramatically improve your cash-flow.

  1. Invoice immediately
  2. Email your invoices
  3. Write detailed descriptions on your invoices
  4. Set your own payment terms
  5. Encourage direct payments to your bank account
  6. Use your mobile phone to access your accounting system during the day
  7. Have someone else call your debtors
  8. Send statements
  9. Use your Accounts Receivable reports