Ssshhhh..... Don't say it too loudly but....
It's nearly Christmas !
Yes, we know what you're saying... 'By crikey, why are you mentioning the C word when it's still September. You're not a supermarket you know !'
So what's Christmas got to do with credit control and debt recovery ?
Well like everything in life, it's all about timing.
Most companies work to 30 days month end payments, meaning the invoices you raise in October will be paid at the end of November.
In any industry, December is notoriously both an expensive month (with year end bonuses, Christmas parties and client entertainment) but it's also a shorter month because of the holidays, limiting the amount of time you have to raise revenue.
All this means that it is imperative that you have cash in the bank to tide you over the holiday period.
So let's have the 'Three Wise Tips'.
1. Set aside some designated time every week in October to make sure all of your invoicing is done.
2. Make sure your bank details are listed clearly on the invoice. Don't give people an excuse not to pay !
3. Describe what you're invoicing for. Try to get any dispute issues out of the way as quickly as possible.
Christmas is a time for enjoying the fruits of your labours so if you only concentrate on one part of your work in October, make sure it's the INVOICING ! !
Like what you've read ? Want to know more of the insider's hints and tips, then don't hesitate call now on (01535) 65 45 94 or email our team at firstname.lastname@example.org
Corporate & Commercial... Taking the stress out
of getting your cash in