Clinching a deal is a great feeling. Doing the job is a pleasure. But it’s not money in the bank until you’ve got paid for your efforts and, amazingly, plenty of small businesses still admit to not focussing enough on this crucial part of the process.
Sometimes, it’s because we concentrate exclusively on sales - after all, that’s always going to be a priority. Equally, it may be a lack of systems or processes, which makes the physical management of invoicing too complicated. If you sit up well into the night doing invoices, then you’re in this category. Or you may just be a typical entrepreneur: excited by new things and bored to tears by admin.
Whatever the reason, bad invoicing means bad cashflow. To avoid the red ink, here are ten tips from Alex King, CEO of small business accountancy specialists, The Local Bookkeeper.
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