HOW TO STAY ON TOP OF YOUR INVOICES

As a small business owner, relationships with your clients or customers are key to the success of your business. No start-up or small business can thrive without positive referral relationships. Invoices sent to them goes in a long way in terms of your business survival.

Here are a few tips on how to stay on top of your invoices:

1. Get the best invoicing platform

For you to stay on top of your invoices, you need to identify the best invoicing platform for your business. Cashflow e-invoicing platform affords you all you need to keep your business running. You can track your expenses, send invoices, get paid and balance your books with Cashflow

2. Know the payment details accurately

For transactions done with your customers, ensure you know how much they owe you and when payment is due. Keeping notes for all these might be cumbersome we know, that’s why Cashflow got you covered. Fact: Cashflow sends automated reminders to get your invoices paid faster!

3. Schedule your time

Depending on the nature of your business, scheduling date of expected payment vary. Nonetheless, you should plan and anticipate your income for each month. The Cashflow dashboard makes it quite easy for you to check your report analytics for unpaid or due invoices, expected income (weekly, quarterly or monthly), among other important data to help your business grow

4. Plan ahead

Think through your expenses for the next few months. Then, compare your expenses to your estimated revenue. This will not only help you to stay on top of your invoices and bills, but you may be able to set stronger, more realistic financial goals for your small business.

5. Get Feedback/Testimonials

Ask your customers how their experience was purchasing your products or doing business with you. This will help in evaluating the customer experience of your product. On top of that, ensure that your customers understand the invoice sent. Unclear terms of payment or invoice list will trigger delayed payment.