- Make your payment terms clear
Get your customer to agree to your estimated price provided on a quote prior to the work they want done. If your payment terms are stated clearly on your quote or invoice, it is considered a binding contract.
- Invoice your customers as early as possible
Try not to wait until the end of the month to do your customer invoicing. If you wait 20 days to invoice then that’s 20 days of no cashflow.
- Email your invoices rather than posting them
If your customers have email addresses, use this as a faster, more reliable method to send your invoices. Posted invoices can easily be delayed or lost.
Source: MYOB, Get Your Business Up & Running (P11), Top tips to get cash flowing into your business quicker. www.myob,com.au Viewed 20/2/2015.