for Getting Paid Faster
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.
submit an invoice to the customer at the time the goods or service
your customer on the payment terms up front. If payment is due when
the service is delivered, make sure he or she knows that.
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.
a deposit, especially for large transactions. This will help offset
your costs while awaiting the final payment.
a discount or other incentive for payments made within x number
of days (usually 5, 7 or 10)