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Tips
for Getting Paid Faster
Everyone
hates getting paid late, and when a home business is your only source
of income, it seems to hurt even more. Here are some tips on how you
can get paid faster.
- Always
submit an invoice to the customer at the time the goods or service
is delivered.
- Advise
your customer on the payment terms up front. If payment is due when
the service is delivered, make sure he or she knows that.
- Have
a client sign a contract. In the event he or she does not pay you,
a contract is legally binding and will help your case if you must
take it to small claims court.
- If you
charge a late fee, be sure to state that on the contract or invoice.
Check with your state, as there are guidelines and regulations regarding
the amount you can charge a customer.
- Get
a deposit, especially for large transactions. This will help offset
your costs while awaiting the final payment.
- Offer
a discount or other incentive for payments made within x number
of days (usually 5, 7 or 10)
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