4 tricks to collect your invoices as soon as possible

[jrineakter]

The important thing for a company is not to invoice. The important thing is to collect your invoices as soon as possible . Let's do a memory exercise, how long does it take from when you send an invoice to your client until you collect it? If you're lucky, you'll most likely get paid in less than 30 days or before the due date, but... what if you don't have it? Then collecting invoices can become a real headache. Here we'll look at some tricks to collect your invoices as soon as possible.

Although the deadline for paying invoices is 30 days (extendable to 60 by agreement between the parties), the average payment period is 79.4 days , according to the latest Bulletin on Late Payments and Business Financing , prepared by Cepyme. In addition, the study confirms that 44% of SMEs have invoices pending collection and for many of these companies the situation is more critical: 11% say they will never collect a tenth of their sales .

Despite the dramatic nature of these figures, the truth is that the data has improved and the trend is towards shorter payment periods for invoices. But, for the moment, this is the situation. And the only thing we can do is adopt a series of good practices when invoicing so that the client has no excuse not to pay you.

Tips to collect your invoices as soon as possible
1. Send the invoice on time
It happens a lot. You don't have time iran number data for anything, or you're producing at a dizzying pace and finding time to invoice can be difficult.

Put an end to this problem as soon as possible. Because no matter how little time you have or how busy you are getting the job done, if you don't get paid, you will never have a consolidated business.

At this point, an invoicing program can help you a lot. Not only because in less than a minute you can create and send the invoice to your client, but because you will begin to automate other administrative tasks that take up so much of your day-to-day work.

2. Complete invoice tracking
You have finally found a time to send the invoice to your client, but now you will have to keep track of them. It is your obligation to know which invoices have been paid and which are still pending collection. Not only because you want to get paid, but because you may have to resort to legal action to claim what is yours. And the courts have very strict deadlines.

Related article: Monitoring procedure to claim unpaid invoices

Yes, we know it's a heavy, tedious and boring task. But it has to be done. That's why at Holded we've created a system to completely take the worry out of it. The app will send you a notification every time an invoice is due and you'll always know the status of your invoices thanks to a colour system that changes automatically as soon as you get paid.

3. Send reminders to your clients
Since it's now so easy to know the status of your invoices: paid, pending or overdue, it's easier for you to send payment reminders to delinquent customers who haven't paid you yet.

Sending notices via email is quite effective for debt collection, since most of the time the client is not acting in bad faith, but has simply forgotten to pay. However, if after sending at least 3 email notices, it is best to pick up the phone and call them. A personal contact will be much more effective.

4. Makes payment easier
It's all about making it so easy for your client that they can't get away with it. And what better idea than to act as if you were a business. Let's say you're a web designer, you finish the job, you present it to your client and they're delighted. Why not charge them right there ? You ask for their credit card or payment method and charge them the full amount for the job. Just as if they had just enjoyed a dinner or bought a pair of pants.