Christmas is getting close, and it`s time for presents. Before you become jolly and ready to drink the eggnog, be sure that you have your back covered with your cash flow streamlined, which includes checking all of your invoices.
It`s not all secret Santas and jingle bells, as in this period, many freelancers and business owners struggle with invoices that are not paid.
There is a lot to love about the holidays but make sure you bring home the bacon to have a stress free Christmas. To help, read over this checklist on how to get paid before Christmas.
6 Steps To Ensure That Your Invoices Get Paid Before Christmas
1. Early Xmas Shutdown
As you probably know, most offices will be closed starting from December 23rd. That means that by that date, you need to send an invoice to the right person, with the correct information and on time. Otherwise, you will wait for the payment after the New Year.
Keep in mind that invoices that are sent two weeks before Christmas are likely going to be paid after the holidays, so plan your payment schedule on time.
2. Invoice Immediately
As soon as you have finished your project, you should send your invoice, especially during the holiday season. Every day that your invoice is not getting paid costs you money. Send your invoice immediately and give your clients a chance to pay you in a timely manner.
3. Know Who is Paying You
Your primary contact is probably not the right person that is handling payment, and I`m sure he will be away shopping for Christmas. To improve your chances of getting paid, make sure to know who is dealing with payments and send your invoice to that person if you want to get paid before Christmas.
4. Chase Your Overdue Invoices
Find some time before Christmas to look over your invoices and make a list of what clients haven`t paid you, then sort the invoices by the due date and by the biggest amount. You should chase the ones that have the biggest total amounts that are overdue.
5. Giving and Receiving
Christmas is the time for giving. When sending your invoices, you can add a note that you are giving a discount for early payment before Christmas. Everyone wants to save and giving discounts may do the trick.
6. Use Online Invoicing
In a world where everything is going digital, there are no excuses for not using an online invoicing tool. It`s beneficial for you and your clients. You will receive payments the same day, which means that they can pay you one day before Christmas even though you send your invoice the day before. For clients, it means they can save some time and pay all their invoices on the same day.
Christmas is a time of joy, giving and cherishing every moment with your friends and family.
Make sure you have handled all these steps regarding your invoices and overdue payments so you can enjoy your eggnog during a stress-free Christmas.