Spending time chasing clients who don’t pay on time is such an irritating and exhausting job.

It feels so annoying when you’ve provided a service and the client:

  • Ghosts you and doesn’t respond to emails, texts or WhatsApp.
  • Has queries about the tasks carried out on the invoice but hasn’t had chance to discuss them with you.
  • Doesn’t have the money available and doesn’t think to ask about setting up an agreed payment plan.

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 e.g. 14 days from date of invoice.  Enforce those penalties if the client doesn’t pay on time as well.

CASH FLOW IS KING

It’s a given that if you have 14 day payment terms, some companies like to 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 massive cash flow problem, especially if they push late payment over 2 or 3 months.

If your 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. Not everyone has personal funds to put into the business to keep things afloat.

If you’re suffering from late paying clients, we can provide the professional service of chasing up and getting you paid.

If you feel you need your terms and conditions or invoice template reviewing – get in touch with us.