Get paid faster in five simple steps

Tired of late invoice payments from your customers? Picture a world where your customers pay faster, then make positive cash flow a reality in five simple steps.

The big picture of faster payments

In the UK, prompt payment of invoices is sketchy at best – 64% of invoices are paid late and more than half (52%) of small business owners worry about unpaid invoices. The result? More than a third (37%) of small businesses take a productivity hit.

But it doesn’t have to be that way. A few simple strategies can help you speed up invoice payments from customers –  and online software can help.

1. Invoice as soon as the job’s done

Clients will often wait till the due date to preserve a higher bank balance; so the sooner you invoice, the faster you’ll get paid. Mobile apps put invoicing in your pocket so, wherever you are, you can send an invoice the moment the job’s complete. It also means the paperwork doesn’t pile up in your outbox.

get paid faster invoice quickly

2. Take note of the people who pay you

It’s good to know the people who work in your client’s accounts department. They’ll see you as a real person rather than a faceless organisation, which helps to deter late payments. And you can send the invoice to them directly for a faster response. Software can help by making it easier to manage your contacts.

get paid faster know your clients

3. Detail your expenses

It’s important you keep tabs on the time, resources and materials spent on each job. Make sure you charge for everything so you’re never left out of pocket. It’s easy to lose track, but software can help by making it simple to manage inventory, keep track of expenses, and add items to invoices while you’re out and about.

get paid faster detailed expenses

4. Draw the line with payment terms

Your clients are busy too so it’s easy to innocently forget about an invoice – they’re only human. You can support positive cash flow by sending polite invoice reminders at the right times. Software can automate the entire process, prompting your customers at the times you choose, before and after the payment is due.

get paid faster clear payment terms

5. Offer simple payment methods

The easier it is for your customers to pay, the more likely they are to pay you on time. Make sure you can process card payments over the phone, in person and online. Online payment providers and mobile card machines make it easy for your customers to pay in a convenient and timely way.

get paid faster easy payment methods

Everything you need to speed up payments

Xero is online software for small businesses that gives you everything you need to get paid faster, so you can manage your cash flow and reduce late payments with ease.

Invoice in an instant

Quickly turn your quotes into custom invoices. Stay on top of paperwork in a couple of clicks, even while you’re on the move.

Manage contacts easily

See your communications and transactions with any single client in Xero, making it easier than ever to manage your relationship.

Track expenses and inventory

Add project expenses into Xero on the move and assign them to the client – then quickly add those expenses and items to an invoice later.

Automate invoice reminders

Customise automatic invoice reminders in Xero and schedule them to be sent at the perfect times, before and/or after the invoice due date.

online payments
Let customers pay online

Add payment options and a ‘Pay Now’ button to your Xero invoices so customers can make a card payment online in next to no time.

Explore more about Xero here.

More resources

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