A few weeks ago we looked at why setting terms and sticking to them is so important to cashflow. Now here’s some more invoicing tips for improving cashflow in MYOB Essentials.
Invoice early, invoice often.
It seems obvious, but invoice the moment work is complete. Don’t wait until the end of the month or even the week. The earlier you invoice, the sooner your payment terms kick in and your customers will pay.
MYOB Essentials helps here, and the OnTheGo app lets you invoice from your mobile phone. So, the minute the work is finished, you can create an invoice and email it to your customer. For tradies who are always on the road, downloading the OnTheGo app will turn your smartphone into an even more necessary companion.
Make it easy for customers to pay you, and there’ll be fewer excuses as to why they haven’t paid.
Add your bank account details to your invoices, so customers can make direct deposits.
If you like invoicing on the spot, consider adding PayDirect to your payment options. Turn your smartphone into a card reader, and you’ll be able to take credit card payments and EFTPOS payments on the spot.
Find out more about using PayDirect and where to download the apps on the MYOB website.