Getting paid before Christmas – Day 5 Top Tip

When I am out and about at Networking events, I often get asked 2 questions
2 questions I regularly get asked at this time of year are:
“Is there anything I can do to help my cashflow as companies shut down over Christmas ?”
“It’s already December, I’m never going to get my invoices paid before Christmas, is there anything I can do ?”

confised personSo I’m posting a blog a day to help you address both of those concerns, Today is about invoice query management and how timely resolution will help you get paid on before Christmas and improve your cashflow.

So you’ve invoiced everything that is outstanding, you’ve followed up to make sure older invoices have been received and you’ve checked your bank account and marked off any invoices that have been paid. That’s a fabulous start, but it’s Friday and if you are like me, you like to end the week with a brilliant sense of achievement.

If your invoice is clearly worded and you only invoice upon completion of agreed milestones, then in a perfect world, you shouldn’t have any queries delaying payment. But we all know the world isn’t perfect.

Customers fall into 1 of 3 categories:
Can’t pay
Won’t pay
Shouldn’t pay

Today we going to address the Shouldn’t pay category.  Now why would you ever put a customer in the category of shouldn’t pay?

If your invoicing process is robust and your invoices clear (to make sure your process is, download a copy of my free ebook form here)  then no-one should ever be put in this category. However as I mentioned before no-one is perfect.

When you called whether that was day 2 or day 4, if someone raised a query you should have logged it in either in your CRM or your accounting system, or somewhere.

Today is the day to review those queries, investigate them and resolve them. How great will it feel to leave the weekend without having invoices that can’t be paid on your books?

Obviously I can’t answer every shouldn’t pay query in this blog, so here are the 3 most common ones I’ve come across:

1 – We didn’t order/receive the goods.
If they are disputing the items, go back to your ordering system and find the confirmation or order request they sent you/you sent them and if the items are the same email them a copy.  If they are different credit and re-invoice them correctly.

2 – You’ve charged an incorrect amount.
If they are disputing the cost, go back to your ordering system and find the confirmation or order request they sent you/you sent them and if the costs are the same email them a copy.  If they are different credit and re-invoice them correctly.

3 – I don’t know what the invoice is for!
You have put a description they don’t recognise. Go back to your order book and see what you wrote down they wanted. If your invoicing system is robust and you’ve read and implemented my free guide you should never receive this as a query.

So spend some time today resolving any queries that have been logged, go finish the weekend knowing next week none of your outstanding invoices have a reason for none payment next week.

By doing this task today, you are also certain your cashflow forecast for the festive period is accurate, your invoices should be paid and your customer pleased that they’ve had a quick resolution to their queries.

What better way is there to end the week than everyone feeling happy, important and with every invoice issue answered?

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