Invoice tips: Make sure you get paid on time
Getting paid on time can make a big difference in a small business. Our new tax and accounting section offers helpful tips on invoicing, and how to avoid being left out of pocket.
If someone doesn’t pay their invoice, you’re left financing the cost of the job until it’s paid – which can be costly if you’ve paid for materials or workers to do the job.
Here are some tips to help you get the cash flowing. Read our Getting paid on time section to find out more.
Don’t procrastinate — the longer you leave it, the easier it is for your customer to forget or ignore your invoice.
Do:
- Send an invoice promptly while the job is fresh in your customer’s mind.
- Make sure all the important information is on your invoice, such as the amount owing, your bank account number, and due date. For an illustration of a sample tax invoice, see Inland Revenue’s website(external link).
- Keep clear records and contact details of the person paying the bill.
- Have a clear process of what to do if a customer doesn’t pay.
For more, see Systems that can help and Keeping records.
Check in with your customer if the due date is looming.
A phone call or email can help make sure your bill doesn't fall off the radar.