Is your income running late? ⏲️ Here are 4 tips to make sure that you get paid on time, every time
People don’t freelance because they are looking for ways to fill up their days. They do it for the same reason that regular nine-to-fivers do — to make money. And while there is a lot of moola to be made if you are skilled at your craft (and marketing yourself accordingly), it doesn’t mean much if you are struggling to get your clients to pay you for your time, energy and expertise.
Some more-organised clients will ensure that your payment deadline is met, while others might need some gentle nudging. So if you are struggling to keep track of your income and get people to pay you on time, here are four tips to make the process easier. You’ve got enough on your plate!
1. Have a contract in place
You shouldn’t embark on a new freelance journey with a client unless you have a clear contract in place. This offers protection to both parties and provides clarity as to what exactly is expected of you as their chosen freelancer. It should also stipulate payment, and when payments are made, so that you are all on the same page and you can know when to expect that payment notification.
2. Don’t be tardy with your invoicing
While many individuals employ the services of freelancers, much of the time you will be dealing with companies. And most companies have a payroll system that automatically transfers money to staff and contractors. This is why it’s important to send your invoices in ASAP, giving their finance or HR department the opportunity to add you to the list of people expecting money. Late invoice = late payment, so be timeous and lead by example.
3. Use accounting tools to help you keep track
Gone are the days of calculators and typewriters — today we don’t only have tools to help you add up your money and keep track of your hours worked, but also accounting software that can turn even a maths drop-out into a kinda-decent bookkeeper. Many of these apps and programs allow you to create invoices, which they will then help you to keep track of with useful reminders.
4. Big job? Get a deposit upfront
Sometimes people need freelancers for small, one-time gigs. But sometimes clients also need people who can develop and oversee more large-scale, long-term projects. If you are about to embark on the latter, a smart thing to do would be to request a deposit before you get to work. This will provide you with some safety before you start putting your blood, sweat, and tears into a job that, in the end, doesn’t pay the bills.
