Accounts Receivable Best Practices: Get Paid Faster

You've done the work, delivered the product, and sent the invoice. But the money isn't in your bank account yet. Managing Accounts Receivable (A/R) effectively is critical for maintaining healthy cash flow.

Clear Terms from Day One

Don't leave your payment terms up to interpretation. State clearly on your contracts and invoices when payment is due (e.g., 'Net 15' or 'Due Upon Receipt'). The clearer your expectations, the faster you will get paid.

Make it Easy to Pay

If a client has to write a check, find a stamp, and walk to the mailbox, you are going to wait longer for your money. Offer digital payment options like ACH, credit cards, or integrated payment links directly on your digital invoices.

Automate Follow-Ups

Chasing down late payments is awkward and time-consuming. Set up automated email reminders to trigger 3 days before an invoice is due, on the due date, and 5 days past due. Often, a gentle, automated nudge is all it takes to move your invoice to the top of their pile.

Need help managing your finances?

John Goldsworthy and the team are ready to help you organize, optimize, and grow your business.