Tips for Getting Paid Quicker

Tips for Getting Paid Quicker

One of the most stressful and worrisome situations for a small business owner is collecting money from their customers. In some cases it goes over very smoothly, but there are some cases where overdue bills can really damage your relationship with your customer. There are things you can implement around your executive suite rental that can help you get paid quicker from your customers and relieve some of the stress that collections can have on a business owner. Any policies that you set forth regarding collecting money from customers should be well thought out and shared with your employees in order to avoid confusion. Here are a few tips on how you can get paid faster when dealing with your customers.

Standard Collection Policies

One of the first things that you need to do when trying to speed up the collection process is to develop a standard collection policy for all of your customers. The policy that you develop needs to clearly layout when payments are due and what kind of penalties that will be incurred if the payment is not received in a timely manner. This policy will also help when trying to collect bad debt because it will have the customers’ signature on it, which will show they were aware of the policy when they signed the agreement.

Get Invoices Out Quickly

Another very important part of getting paid in a timely manner is making sure you get invoices out quickly from your executive suite rental, so the customers have plenty of time to pay. As soon as the service or sale that you make to the customer is over, you need to prepare an invoice to give to the customer so they will be able to pay you in a timely manner. Be sure to avoid procrastinating when it comes to invoicing because the invoices that you do not write out are money lost for your business.

If you are looking for a quality executive suite rental, then look no further than the Centres at Burlington. We have the space and amenities that you are looking for at the price you can afford.