![]() ![]() The first important step is to keep calm. You’ve sent your invoice, and the client has missed the payment date. Incorrect information can cause delays or disputes, so always ensure amounts, dates and client details are accurate before sending. Just make sure you make this absolutely clear to your client when beginning your relationship.įinally, make sure the information you include on your invoice is correct. This legislation allows you to claim up to 8% interest on unpaid invoices. The law allows you to do this, thanks to the Late Payment of Commercial Debts (Interest) Act 1998. You can also deter late payments by including interest terms in your agreement. Top Tip: To see a list of the key features that an invoicing software solution should include, as well as our picks for the best solutions available on the market today, read our guide to the 11 best invoicing software solutions for your small business □ Instead, use an intelligent business account with integrated invoicing (such as Tide invoicing). It can be hard to keep track if you’re constantly creating invoices manually and sending them via email every time. Make sure to have your “accounting house” in order, too. When setting these expectations, make sure you cover the following: Then, review these conditions during your kick-off calls and onboarding process. When both parties are ready to sign a contract, there should be no surprises. Start by outlining your payment terms from the first proposal you send to a client. The best way to ensure any overdue invoices are paid is to set expectations from the beginning of your client relationships.
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