Tag: cashflow

By Navigator member Kathryn Crockford, Director, Axis Accounting This guide outlines five simple procedures that, if followed correctly, have proved to be successful in speeding up the payment of outstanding customer debt.  The ideas can also help to improve your bank balance. 1. Managing your sales invoicing Regardless of whether you sell goods or services, the way you prepare your sales invoices will dictate how quickly you get paid. Presentation is the key. Sales Invoices need to be: *   Addressed clearly, ideally to an individual who is authorising payment *   Clear as to who has sent the invoice and where and how payment is to be made *   Clear on what is being charged for *   Clear about the length of time you allow for payment *   Accurate, not just with the figures but with spellings also If your customer has specified a Purchase Order (PO) number or job reference, use it (leave it out and your invoice may not get paid). Use simple understandable language where possible. Avoid...