Will the Stuffing be Knocked out of your Cash Flow this Christmas?
Christmas may be known as a time of giving but as we know in the credit control arena, for Cash Flow the matter of receiving really counts too!
Christmas can be a lean time for many companies and there are a myriad of excuses that debtors will use at this time of year to evade payment, that ultimately can damage your Cash Flow.
To maximise the recovery of your invoices over the Christmas period, lets take inspiration from the Twelve Days of Christmas Carol and make sure you implement Five Golden ‘Things’ of raising invoices…
1.Invoice by email.
Take the time to send all your invoices by email and not by post.
Avoids the excuse… ‘I never received your invoice’.
2.Description of items.
Clearly list / describe the items that you have supplied.
Avoids the excuse… ‘I don’t know what I’m paying for’.
3.Date for payment.
Clearly state your payment terms and the date you expect payment to be made.
Avoids the excuse… ‘I didn’t realise you wanted it now’.
4.Request bank transfer payments.
State that payments can only be made by bank transfer, no cheques.
Avoids the excuse… ‘Well I sent the cheque last week by post’.
Make sure your sort code and account number are clearly listed on the actual invoice.
Avoids the excuse… ‘I didn’t know where to pay you’.
By following these simple invoicing tips, ‘yule’ be ensuring that you benefit from your Dough, Dough, Dough to go with the Ho, Ho, Ho.
If you would like to read more tips for successful Credit Control check out some of our other Blogs Click Here>>>