Getting paid topics https://quickbooks.intuit.com/learn-support/getting-paid/misc/02/GettingPaidUK Getting paid topics Wed, 21 Aug 2019 16:37:15 GMT GettingPaidUK 2019-08-21T16:37:15Z My bank details are not showing when you print my invoices sent from Quick books https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/my-bank-details-are-not-showing-when-you-print-my-invoices-sent/01/333456#M126 <P>My bank details are not showing when you print my invoices sent from Quick books.</P><P>&nbsp;</P><P>&nbsp;</P><P>Can someone fix this for me?</P> Tue, 25 Jun 2019 11:23:53 GMT https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/my-bank-details-are-not-showing-when-you-print-my-invoices-sent/01/333456#M126 lutay 2019-06-25T11:23:53Z Invoices - Setting Up an Invoice That is Due 30 Days From The End of The Month https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/invoices-setting-up-an-invoice-that-is-due-30-days-from-the-end/01/175823#M102 <P><span class="lia-inline-image-display-wrapper lia-image-align-center" style="width: 450px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/7018i74384BE145CB37B0/image-size/large?v=1.0&amp;px=999" alt="33103198_s.jpg" title="33103198_s.jpg" /></span></P><P>&nbsp;</P><P>A recent client of ours asked us if it were possible to create terms for an invoice that would allow them to make it payable 30 days onwards from the end of the month the invoice was raised.</P><P>&nbsp;</P><P><EM>For example: creating conditions where an invoice made on <STRONG>07/05/18</STRONG> would instead be due on the <STRONG>30/06/18</STRONG> as opposed to the <STRONG>31/05/18.</STRONG></EM></P><P><EM>&nbsp;</EM></P><P><FONT size="4"><STRONG>How?</STRONG></FONT></P><P>&nbsp;</P><P><STRONG>1.</STRONG> Firstly, go into your QuickBooks account and select ‘Account and Settings’ found under the ‘Company Cog’ in the top right corner.</P><P>&nbsp;</P><P><STRONG>2.</STRONG> Navigate to the ‘Sales ‘option on the left-hand side, click on ‘Sales form content’, select the drop-down menu option to the right-hand side of Preferred invoice terms’ and then select ‘Add new’.</P><P>&nbsp;</P><P><STRONG>3.</STRONG> As seen below, start by entering in the correct name for the term you are using, which in this case would be ‘30 days from the end of the month’.</P><P>&nbsp;</P><P><STRONG>4.</STRONG> As you want the invoice to be due by the last day of the month, select the option ‘Due by certain day of the month’ and enter ‘31’ into the first box.</P><P>&nbsp;</P><P><STRONG>5.</STRONG> As you want the invoice to be made payable 30 days after the due date enter ‘30’ into the box named ‘Due the next month if issued within’.</P><P>&nbsp;</P><P><STRONG>6.</STRONG> Finally, it will give you the option to apply a discount if the payment is made early which you may enter if you offer such terms, otherwise click save.</P><P>&nbsp;</P><P>&nbsp;</P><P><span class="lia-inline-image-display-wrapper lia-image-align-center" style="width: 254px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/7021i80D7B06901FB4626/image-size/large?v=1.0&amp;px=999" alt="Capture.PNG" title="Capture.PNG" /></span></P><P>&nbsp;</P><P>&nbsp;Now, whenever you create an invoice, under the ‘Terms’ drop-down menu it will give you the option to select the new term you have just created making it possible to make the amount payable 30 days from the end of the month.</P><P>&nbsp;</P><P>Watch my YouTube video for further help!</P><P><A href="https://www.youtube.com/watch?v=c6AbAYC5Cd8" target="_blank">https://www.youtube.com/watch?v=c6AbAYC5Cd8</A></P> Wed, 05 Sep 2018 14:43:03 GMT https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/invoices-setting-up-an-invoice-that-is-due-30-days-from-the-end/01/175823#M102 MatthewLay 2018-09-05T14:43:03Z Online Payroll, entering negatiev tax code (UK) https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/online-payroll-entering-negatiev-tax-code-uk/01/170250#M75 <P>Hi, I'm hoping someone in the UK can help me with this.</P><P>&nbsp;</P><P>I've just received an HMRC coding notice and need to change a tax code in QBO Online Payroll to K242 - a "K" code denotes a negative tax allowance. Unfortunately Online Payroll doesn't appear to accept this tax code as being valid. Any ideas how I can enter this?</P><P>&nbsp;</P><P>Thanks</P> Sun, 22 Jul 2018 08:47:07 GMT https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/online-payroll-entering-negatiev-tax-code-uk/01/170250#M75 PaulClark 2018-07-22T08:47:07Z Fees https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/fees/01/169672#M73 <P>Is there a way to pass along the credit card fees to our clients?</P> Tue, 17 Jul 2018 16:50:17 GMT https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/fees/01/169672#M73 muddhaven 2018-07-17T16:50:17Z Part direct deposit, part paycheck https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/part-direct-deposit-part-paycheck/01/168076#M65 <P>Is there a way to directly deposit an amount and get a check for the balance?</P> Mon, 02 Jul 2018 17:15:50 GMT https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/part-direct-deposit-part-paycheck/01/168076#M65 Mott 2018-07-02T17:15:50Z QUESTION: Has your approach to invoicing evolved since you started your business? https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/question-has-your-approach-to-invoicing-evolved-since-you/01/163708#M43 <P><span class="lia-inline-image-display-wrapper lia-image-align-right" style="width: 400px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/5223iFAC96C90F125994E/image-size/medium?v=1.0&amp;px=400" alt="medium.jpeg" title="medium.jpeg" /></span></P> <P>Keeping invoices organised can be a difficult task. Creating them can sometimes be a laborious activity, and when things don’t always work out, it can become very frustrating.</P> <P><STRONG><EM>&nbsp;</EM></STRONG></P> <P>Whether you started your business a couple of weeks ago <EM>or</EM> years ago, we want to know how your approach to invoicing has changed! <img id="smileyhappy" class="emoticon emoticon-smileyhappy" src="https://quickbooks.intuit.com/learn-support/s/i/smilies/16x16_smiley-happy.png" alt="Smiley Happy" title="Smiley Happy" />&nbsp;</P> <P>&nbsp;</P> <P><FONT size="3"><STRONG>How do you approach the task of invoicing now?&nbsp;</STRONG></FONT></P> <P>&nbsp;</P> <P><FONT size="3"><STRONG>Comment your tips and tricks below!</STRONG></FONT></P> <P><FONT size="3">&nbsp;</FONT></P> <P>&nbsp;</P> <P><EM>Join and become a member... It's free! -&nbsp;</EM><STRONG><EM>&nbsp;<A href="https://accounts.intuit.com/signup.html?offering_id=Intuit.sbe.salsa.default&amp;redirect_url=https%3A%2F%2Fidfedprdpf.intuit.com%2Fidp%2FstartSSO.ping%3FPartnerSpId%3Dooxbu36397.lithium.com&amp;referer=https%3A%2F%2Fqbcommunity.com%2F" target="_blank">Join the QB Community!</A></EM></STRONG></P> <HR /> <DIV align="center"> <P><A class="lia-button lia-button-primary" href="https://qbcommunity.com/t5/UK-QuickBooks-Community/ct-p/community-uk" target="_blank">QB Community UK<STRONG> Home</STRONG></A>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;<A class="lia-button lia-button-primary" href="https://qbcommunity.com/t5/custom/page/page-id/CommunityBrowser-UK#business-discussions" target="_blank">Talk About Your <STRONG>Business</STRONG></A>&nbsp;<BR /><BR />&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<A class="lia-button lia-button-primary" href="https://qbcommunity.com/t5/Finding-inspiration/bd-p/FindingInspirationUK" target="_blank">Find <STRONG>Inspiration</STRONG></A>&nbsp; &nbsp; &nbsp;</P> </DIV> Wed, 30 May 2018 10:46:23 GMT https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/question-has-your-approach-to-invoicing-evolved-since-you/01/163708#M43 Jess W 2018-05-30T10:46:23Z Giving a great referral! https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/giving-a-great-referral/01/158322#M23 <P><SPAN>What is the best referral you've ever *given* to a fellow small business owner or self-employed professional?</SPAN></P> <P>&nbsp;</P> <P><EM>Please share your answer below -- we're looking forward to hearing more.</EM></P> Tue, 17 Apr 2018 19:06:26 GMT https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/giving-a-great-referral/01/158322#M23 EmilyCowan 2018-04-17T19:06:26Z QUESTION: If you could sit down to dinner with 3 other business owners... https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/question-if-you-could-sit-down-to-dinner-with-3-other-business/01/157696#M21 <P><SPAN data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;If you could sit down to dinner with 3 other business owners (anyone, alive or dead!), who would you choose and why?&quot;}" data-sheets-userformat="{&quot;2&quot;:8403901,&quot;3&quot;:{&quot;1&quot;:0},&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;10&quot;:2,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri, sans-serif&quot;,&quot;16&quot;:12,&quot;26&quot;:400}">... anyone living today (or not!), w</SPAN>ho would you choose and why?</P> Mon, 21 May 2018 14:30:02 GMT https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/question-if-you-could-sit-down-to-dinner-with-3-other-business/01/157696#M21 ShanaNiederman 2018-05-21T14:30:02Z QUESTION: Do you have a story to tell about getting paid (or *not* getting paid)? https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/question-do-you-have-a-story-to-tell-about-getting-paid-or-not/01/155184#M17 <P>&nbsp;</P> <P><span class="lia-inline-image-display-wrapper lia-image-align-right" style="width: 400px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/5516iE1C37E2D5F6800EA/image-size/medium?v=1.0&amp;px=400" alt="megaphone.stocksy.jpg" title="megaphone.stocksy.jpg" /></span></P> <P>&nbsp;</P> <P>Getting paid is a priority for every entrepreneur. We're guessing you've all got stories to share about your experiences asking for, waiting for or getting (<EM>or not)</EM> your hard-earned payment. We want to hear all about it!</P> <P><FONT size="4">&nbsp;</FONT></P> <P><FONT size="4"><STRONG>Tell us your favourite or, perhaps, your least favourite moment related to getting paid in the comments below!</STRONG></FONT></P> <P>&nbsp;</P> <P>&nbsp;</P> Mon, 11 Jun 2018 16:19:01 GMT https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/question-do-you-have-a-story-to-tell-about-getting-paid-or-not/01/155184#M17 QBCommunityUK 2018-06-11T16:19:01Z QUESTION: Have you ever raised your prices? What happened? https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/question-have-you-ever-raised-your-prices-what-happened/01/155180#M16 <DIV class="lia-message-subject lia-component-message-view-widget-subject"> <DIV class="MessageSubject"><FONT size="3">Raising the price for your goods or services can be daunting. What if you lose your valued customers as a result? On the other hand, you need to turn a profit if you're going to stay in business, so sometimes a rate-hike is a&nbsp;smart business strategy. </FONT></DIV> <DIV class="MessageSubject">&nbsp;</DIV> <DIV class="MessageSubject"><FONT size="5">Tell us:&nbsp;</FONT><EM><FONT size="5"><STRONG>Have you ever raised your prices? What happened? In the long run, was it a good or a bad decision?</STRONG></FONT></EM></DIV> </DIV> Mon, 21 May 2018 14:27:51 GMT https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/question-have-you-ever-raised-your-prices-what-happened/01/155180#M16 QBCommunityUK 2018-05-21T14:27:51Z More Invoice Tips to Help You Get Paid Every Time https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/more-invoice-tips-to-help-you-get-paid-every-time/01/155177#M15 <P><span class="lia-inline-image-display-wrapper lia-image-align-center" style="width: 866px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/4153i1E4EE0519DDD0654/image-size/large?v=1.0&amp;px=999" alt="Sterling_Small_1269704.jpg" title="Sterling_Small_1269704.jpg" /></span></P> <P>&nbsp;</P> <P>&nbsp;</P> <P>We’ve already shared some tips for <A href="https://qbcommunity.com/t5/Getting-paid/Invoice-Like-a-Pro-and-Get-Paid/m-p/155140#M4" target="_self">invoicing like a pro</A> to help you get paid faster, strengthen your brand presence and make you the first person a client calls to get a job done. Here, we’re giving some advice on upping your invoice game even more.</P> <P>&nbsp;</P> <P><STRONG>Embrace new technology</STRONG></P> <P>There are so many digital technologies at your disposal today that make life easier for both you and your customers. Here are a few you should add to your invoicing strategy.</P> <P>&nbsp;</P> <UL> <LI><STRONG>A</STRONG> <STRONG>financial management platform</STRONG>—like QuickBooks—makes it quick and easy to create, send and track your invoices online. And it will minimise payment hassles for your customer</LI> <LI><STRONG>Mobile payments</STRONG>—Speaking of painless processing, mobile payment technology lets you swipe a credit or debit card anywhere, any time. On-the-spot payment (no invoicing required!) is particularly useful for small business owners who deliver products or services directly to a home or office</LI> <LI><STRONG>Cloud storage</STRONG>—You may be planning a much-deserved beach holiday, but there’s no need for your invoices to take any time off. A cloud-based management solution lets you send invoices as always. Best of all? You can receive payments while you sunbathe&nbsp;&nbsp;</LI> </UL> <P>&nbsp;</P> <P>&nbsp;</P> <P><A href="https://qbcommunity.com/plugins/common/feature/saml/doauth/post?referer=https%3A%2F%2Fqbcommunity.com%2F&amp;cid=soc_qbcommunity_test_us_qbcom-sig_CTAtop_link_050919-063018_community" target="_blank"><IMG src="https://farm1.staticflickr.com/948/27281801857_2b4f30fcb9.jpg" border="0" align="right" /></A></P> <P><STRONG>Be flexible (to a point)</STRONG></P> <P>Of course, you want to be paid on time, but it’s okay to be flexible with your trusted paying customers. If a valuable client is waiting to get a new round of funding, for example, you can show goodwill (and great customer service) by offering to temporarily renegotiate payment terms to ease any financial burden. Here are some other ways to showcase your flexibility to customers:</P> <P>&nbsp;</P> <UL> <LI>Discuss a <STRONG>retainer-based agreement</STRONG> that guarantees you a set number of hours and pounds each month and helps keep your client’s budget predictable.</LI> <LI><STRONG>Highlight your payment options</STRONG>. Let your customers know you’ll take standing order, a cheque or an online credit card payment—whatever works best for them.</LI> </UL> <P><STRONG>&nbsp;</STRONG></P> <P><STRONG>Make friends with the right people</STRONG></P> <P>Expedite your payment processing by making sure your invoice goes to the right person in the right department. Remember, the person who writes cheques in accounts payable is unlikely to be the point-person for your graphic design project.</P> <P>&nbsp;</P> <P>Another critical detail: does the person handling your invoice need a purchase order? Find out and make sure you include it on your invoice—or risk having your payment get snarled in some sticky red tape.</P> <P>&nbsp;</P> <P><STRONG>Show your appreciation</STRONG></P> <P>On the subject of making friends, in business—like everywhere else—little gestures go a long way. Consider doing these things to help you get paid faster:</P> <P>&nbsp;</P> <UL> <LI><STRONG>Incentivise early payments.</STRONG> Imagine if clients paid <EM>before</EM> the bill was due. If you offer a discount—enough to make it worth their while but not so much that you’re being underpaid—for proactive payments, it might just happen</LI> <LI><STRONG>Say thanks.</STRONG> Every time you receive your money, send a heartfelt, handwritten note to the accounts payable officer.</LI> <LI><STRONG>Send a gift</STRONG>. Surprise your most loyal customers each quarter with a gift that shows how much you value their business</LI> </UL> <P>&nbsp;</P> <P>When every part of your invoicing system is clear, streamlined, easy and efficient, you make the payment process as enjoyable as possible. And the bottom line is this: happy customers are more likely to be paying customers.</P> <P>&nbsp;</P> <P><FONT size="3"><STRONG>Before you go...</STRONG></FONT></P> <P><STRONG><FONT size="3">QB Community members, has your approach to invoicing evolved since you started your business? Please share what you’ve learned in the comments below... We would love to hear your experiences!</FONT></STRONG></P> <P><FONT size="3">&nbsp;</FONT></P> Tue, 19 Jun 2018 17:18:54 GMT https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/more-invoice-tips-to-help-you-get-paid-every-time/01/155177#M15 QBCommunityUK 2018-06-19T17:18:54Z How To Manage Customers Who Pay Late https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/how-to-manage-customers-who-pay-late/01/155175#M14 <P><span class="lia-inline-image-display-wrapper lia-image-align-center" style="width: 866px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/4152i9F98EA3716A1F4BE/image-size/large?v=1.0&amp;px=999" alt="Stocksy_Frustrated Late Payments 3_1343075.jpg" title="Stocksy_Frustrated Late Payments 3_1343075.jpg" /></span></P> <P>&nbsp;</P> <P>&nbsp;</P> <P>Dealing with late payments from a customer is simply no fun. And when your client is a chronic offender, financial tardiness is more than just annoying. Consistently late payments can severely curb your cash flow and put your whole business at risk.</P> <P>&nbsp;</P> <P>Here, we delve into how you can use your invoice to avoid late payments. And if your invoice doesn’t work, we examine what you need to do to collect on those past-due payments.</P> <P><STRONG>&nbsp;</STRONG></P> <P><STRONG>Send your invoices on time</STRONG></P> <P>We’ve <A href="https://qbcommunity.com/t5/Getting-paid/Boost-Your-Cash-Flow-In-3-Simple-Steps/m-p/155134#M3" target="_self">said it before</A>, and we’ll <A href="https://qbcommunity.com/t5/Getting-paid/Invoice-Like-a-Pro-and-Get-Paid/m-p/155140#M4" target="_self">say it again</A>. Nothing gets you paid faster and more reliably than sending your invoice as soon as it’s due. Whether your payment cycle is weekly, monthly or something else entirely, stick like Velcro to your agreed-upon schedule.</P> <P>&nbsp;</P> <P><STRONG>Negotiate terms up front</STRONG></P> <P>Speaking of payment schedules, make sure you and your client agree to one during your initial contract negotiations. Put all the terms in writing so there’s no room for misunderstandings about deadlines or late fees. Experts say the payment deadline “sweet spot” is 10 to 15 days after receipt of an invoice.</P> <P>&nbsp;</P> <P><STRONG>Penalise late payments</STRONG></P> <P>A standard late fee is 1-2% of the total amount due. Whatever penalty you choose to enforce, make sure it’s steep enough to change your client’s bad behaviour.</P> <P>&nbsp;</P> <P><STRONG>Keep clients’ credit cards on file </STRONG></P> <P>If your business has recurring customers, keeping their credit card on file can minimise payment headaches for both of you. Just be sure to get permission <EM>in writing</EM> to charge the card, and make certain you store their private information safely and in full compliance with <U><A href="https://www.pcisecuritystandards.org/" target="_blank">PCI standards</A></U>.</P> <P>&nbsp;</P> <P>If you’re sending invoices using an online financial management platform, you can set up automated, direct payments from an approved credit card. &nbsp;</P> <P>&nbsp;</P> <P><STRONG>Consider invoice financing</STRONG></P> <P>If you’re really strapped for cash, you might seek out a special type of loan for the amount you’re owed, or due to be owed. Known as invoice factoring or invoice financing, such loans are possible if your invoices are due and payable within 90 days and the businesses you work with are reputable and have good credit scores.</P> <P>&nbsp;</P> <P>The money you borrow through invoice factoring is equivalent to a loan, but the fees or interest varies depending on the provider. Factoring can be a great solution if you’re a fast-growing company that needs to free up cash from your outstanding invoices. Some factoring companies will even take on collections, chasing up your late payments for you.</P> <P>&nbsp;</P> <P><STRONG>What to do when your payment is late</STRONG>&nbsp;</P> <P>Some customers are notoriously nonchalant when it comes to paying what they owe no matter how punctual, professional or pretty your invoice. Here’s a roadmap for tracking down your money.</P> <P>&nbsp;</P> <P>For this example, let’s assume you’ve agreed payment is due on the 1st and 15th of every month.</P> <P>&nbsp;</P> <P>&nbsp;</P> <P><A href="https://qbcommunity.com/plugins/common/feature/saml/doauth/post?referer=https%3A%2F%2Fqbcommunity.com%2F&amp;cid=soc_qbcommunity_test_us_qbcom-sig_CTAtop_link_050919-063018_community" target="_blank"><IMG src="https://farm1.staticflickr.com/948/27281801857_2b4f30fcb9.jpg" border="0" align="right" /></A></P> <P><STRONG>Day 15</STRONG></P> <P>Your money is more than two weeks late. Time to send your customer a polite reminder. A good opening line for your communication? You’re just checking in to make sure the client received your invoice. Or consider this approach: since your second payment of the month is about to come due, send that invoice and include the original outstanding amount too.</P> <P>&nbsp;</P> <P><STRONG>Day 30</STRONG></P> <P>We know you’re frustrated, but skip the email missive and pick up the phone to find out how you can expedite the payment process. Emphasise the specific due date—and remind your client about the agreed-upon payment terms. If it’s possible to have this conversation in person, schedule a meeting ASAP.</P> <P>&nbsp;</P> <P><STRONG>Days 32-45</STRONG></P> <P>Time for some deep breaths. Don’t get furious. Get persistent. Touch base with your client several times during this period. It’s really important you stay calm and professional. Here are 2 other reminders:</P> <P>&nbsp;</P> <UL> <LI>Don’t deliver any new work until you’ve received your full payment (adjusted appropriately for incurred late fees)</LI> <LI>Throughout this time, keep sending an updated invoice that reflects both your outstanding original payment and the accrued penalties&nbsp;</LI> </UL> <P><STRONG>Day 60</STRONG></P> <P>Take a moment to send one more reminder, just in case your invoice has been moved to the next month’s “payment due” pile. If there’s no response, you might consider connecting with a collections agency. Unfortunately, radio silence may indicate your client has gone out of business. In this scenario, it may be time to cut your losses and assess what you can do differently to avoid this trying situation in the future.</P> <P>&nbsp;</P> <P><STRONG>Before you go</STRONG></P> <P><STRONG>QB Community members, have you had to “retrain” customers so they’re punctual with every payment? Please share your stories – and your strategies for success below in the comments!</STRONG></P> <P>&nbsp;</P> <P>&nbsp;</P> <P><STRONG><span class="lia-inline-image-display-wrapper lia-image-align-left" style="width: 197px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/5664i9BDD9CE77025F7E8/image-size/large?v=1.0&amp;px=999" alt="small.jpeg" title="small.jpeg" /></span></STRONG></P> <P>&nbsp;</P> <P>&nbsp;</P> <P><STRONG>Want to join the conversation? But not yet a QB Community member? Click <A href="https://qbcommunity.com/plugins/common/feature/saml/doauth/post?referer=https%3A%2F%2Fqbcommunity.com%2F&amp;cid=soc_qbcommunity_test_us_qbcom-sig_CTAbottom_link_050918-063018_community" target="_blank">HERE</A> to sign up in a flash!</STRONG></P> <P><STRONG>&nbsp;</STRONG></P> <P><STRONG><FONT size="3">Want to read more tactics and tips for getting paid? Check out this post:</FONT></STRONG></P> <P><STRONG><FONT size="3"><A href="https://qbcommunity.com/t5/Getting-paid/More-Invoice-Tips-To-Help-You-Get-Paid-Every-Time/m-p/155177#M15" target="_blank">More Invoice Tips To Help You Get Paid Every Time</A></FONT></STRONG></P> Tue, 19 Jun 2018 17:16:46 GMT https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/how-to-manage-customers-who-pay-late/01/155175#M14 QBCommunityUK 2018-06-19T17:16:46Z Pricing 101: Four Strategies to Help You Charge What You’re Worth https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/pricing-101-four-strategies-to-help-you-charge-what-you-re-worth/01/155144#M5 <P><span class="lia-inline-image-display-wrapper lia-image-align-center" style="width: 501px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/4146iD54237B4226CDD51/image-dimensions/501x560?v=1.0" width="501" height="560" alt="Stocksy_txp581659a00Yb100_Small_897660 (1).jpg" title="Stocksy_txp581659a00Yb100_Small_897660 (1).jpg" /></span></P> <P>&nbsp;</P> <P><SPAN>For entrepreneurs, here's a topic that comes up again and again: pricing. Figuring out how to set (or adjust) what you charge for your products or services is a conundrum that just about every small-business owner faces.</SPAN></P> <P>&nbsp;</P> <P><SPAN>Entrepreneurs selling a product like handmade jewellery or baked goods may be able to use a relatively straightforward mathematical formula along the lines of materials + overhead + time = price to determine their magic number. But for folks offering services – tax accountants, bookkeepers, social media consultants, brand strategists and graphic designers, for example – price-setting can be a little (or a lot) more challenging, especially when their “product” is less tangible than a delicious scone&nbsp;or sparkly earrings.</SPAN></P> <P>&nbsp;</P> <P><SPAN>We've turned to some&nbsp;enterprising&nbsp;entrepreneurs&nbsp;to identify key pricing challenges – and, more importantly, to share some key strategies for solving the all-important pricing puzzle.</SPAN></P> <P>&nbsp;</P> <OL> <LI><FONT size="4"><STRONG>Charge with confidence</STRONG></FONT></LI> </OL> <P><SPAN>Let’s face it: Sometimes the biggest obstacle to charging a profit-worthy rate is&nbsp;</SPAN><I><SPAN>you</SPAN></I><SPAN>. We know it’s not easy mustering the personal and professional confidence to ask a competitive rate. When the benefits of your services are hard to quantify precisely, it can feel downright nerve-wracking to set high prices, even when they reflect the high value you provide.&nbsp;</SPAN><SPAN>Natalie Cunha</SPAN><SPAN>, a tax preparer in Northern California, recalls a mistake she made during her early days as a small business owner:&nbsp;<EM>“I was charging too little. I worked like crazy, people-pleaser style, and at the end of the day, I was frustrated, upset, discouraged, uninspired. It’s been a process of realizing that I need to make sure the price works for ME, too.”</EM></SPAN></P> <P>&nbsp;</P> <P><SPAN>Bruce Daniels</SPAN><SPAN>, a social media strategist in the state of&nbsp;Washington, USA,&nbsp;regularly reminds himself it’s okay to charge full-price for his consulting services.&nbsp;<EM>“The whole object is to be profitable. We are likely better than we think we are, and we should never sell ourselves short.”</EM></SPAN></P> <P>&nbsp;</P> <P><FONT size="4"><STRONG>The takeaway?</STRONG></FONT><SPAN>&nbsp;Acknowledge any discomfort you might feel about charging what you’re&nbsp;</SPAN><I><SPAN>really</SPAN></I><SPAN>&nbsp;worth – and then go ahead and do it. (Remember, you can always find a way to offer a discount if necessary, but negotiating up in price is virtually impossible.)</SPAN></P> <P>&nbsp;</P> <OL start="2"> <LI><FONT size="4"><STRONG>Know the market</STRONG></FONT></LI> </OL> <P><SPAN>You can (and should) seriously boost your inner pricing confidence by doing some market analysis before you hang out your shingle. Operations specialist&nbsp;</SPAN><SPAN>Jeffrey Trejos&nbsp;</SPAN><SPAN>says the numbers you need may be just a click or two away. “</SPAN><SPAN>A quick and easy way to check your prices vs. your competitors is to do a search … in Amazon and Google. Consider what type of customers you want to market to and what they will be willing to pay.”</SPAN></P> <P>&nbsp;</P> <P><SPAN>For his part, Canadian entrepreneur&nbsp;</SPAN><SPAN>Jeffrey P. Marson</SPAN><SPAN>&nbsp;has his own approach to reaching and maintaining profitability:&nbsp;<EM>“Predict, Prepare and Produce is my motto,”</EM>&nbsp;he explains.&nbsp;<EM>“</EM></SPAN><EM><SPAN>An important fact for my businesses was getting my numbers in line from the get-go. I feel the main reason small businesses fail is poor management of the numbers. Know where your break-even point is, and go from there!”</SPAN></EM></P> <P>&nbsp;</P> <P><STRONG>The takeaway?<SPAN>&nbsp;</SPAN></STRONG><SPAN>Whether you surf the Internet, crunch the numbers or simply talk to others in the industry, it pays (literally) to be informed about and aware of comparable market rates. After all, if you’re confident you’re pricing structure is fair and reasonable, chances are, your clients will be, too.</SPAN></P> <P>&nbsp;</P> <OL start="3"> <LI><FONT size="4"><STRONG>Consider flexible pricing plans</STRONG></FONT></LI> </OL> <P><SPAN>If you’re trying to decide whether hourly or “value” pricing is best for your biz, how about offering both? Many of our community members are as flexible as a pretzel when it comes to pricing. Consider this insight from&nbsp;</SPAN><SPAN>Paul Edward Montador</SPAN><SPAN>, an American baker in Illinois&nbsp;who’s on a mission to make the world’s greatest shortbread.&nbsp;<EM>“I use both [hourly and value pricing]. We charge per item (or by the case) for our product. If I’m teaching classes or working as contract caterer, then it’s by the hour. But it’s all agreed upfront, so there are no surprises at the end when presented with an invoice.”</EM></SPAN></P> <P>&nbsp;</P> <P><SPAN>For Michigan, USA-based investor&nbsp;</SPAN><SPAN>Lori Sullivan</SPAN><SPAN>, flexible-pricing makes good business sense. She suggests using &nbsp;<EM>“a combination … with an early valued price for a mini service that can be followed up with an increased hourly rate once [clients] see your value.”</EM></SPAN></P> <P>&nbsp;</P> <P><SPAN>Of course, not all products or services warrant flexible pricing. For labour intensive products like&nbsp;</SPAN><SPAN>Cyndi Veres Gibson’s</SPAN><SPAN>&nbsp;one-of-a-kind, handmade embroidery items,&nbsp;<EM>“value pricing or piece pricing is the easiest way to go. There is so much to consider that hourly pricing would prohibit sales.”</EM>&nbsp;In Seattle, US brand strategist&nbsp;</SPAN><SPAN>Scott Michelson</SPAN><SPAN>&nbsp;sticks with an hourly rate based on how long he thinks a project will take.</SPAN></P> <P>&nbsp;</P> <P><EM><SPAN>“I provide a range to make sure I’ve covered myself on any potential issues. If the client wants a direction change, I put in a change order to cover those costs.”</SPAN></EM></P> <P>&nbsp;</P> <P><FONT size="4"><STRONG>The takeaway?</STRONG></FONT><SPAN>&nbsp;Consider channelling your inner yogi when it comes to setting a pricing structure. In some cases, flexible pricing can help you make a sale or win a new client, thereby securing future business. If a stricter approach to pricing makes sense, that’s okay, too. The bottom line? Set prices that support&nbsp;</SPAN><I><SPAN>your</SPAN></I><SPAN>&nbsp;bottom line.</SPAN></P> <P>&nbsp;</P> <OL start="4"> <LI><FONT size="4"><STRONG>Offer discounts and incentives – prudently</STRONG></FONT></LI> </OL> <P><SPAN>Just as a worm wriggling on the end of a hook may entice a circling fish to bite, offering a discount or incentive may help lure prospective customers or clients to “bite” when it comes to your products or services. If you’re a fledgeling business owner, giving a one-time discount or introductory package deal may secure a new client or customer and, as a result, help you build your portfolio, boost sales and earn a rave review to share on your website and other marketing materials.</SPAN></P> <P>&nbsp;</P> <P><SPAN>Michael Koral</SPAN><SPAN>, a Canadian entrepreneur and co-founder of&nbsp;</SPAN><A href="http://www.needls.com/" target="_blank" rel="nofollow noopener noreferrer"><SPAN>Needls.com</SPAN></A><SPAN>, puts his own spin on this “lure ‘em in” strategy:&nbsp;<EM>“People who visit our website will see a live chat box, and they receive $50 in free advertising for simply saying hello. It prompts a dialogue between us&nbsp;</EM></SPAN><EM><SPAN>and</SPAN></EM><SPAN><EM>&nbsp;gives them more advertising budget to work this. That tactic has helped us quite a bit.”</EM>&nbsp;</SPAN></P> <P>&nbsp;</P> <P><SPAN>On the other hand, it’s definitely not a good business decision to give away goods or services if it doesn’t benefit you in the long run. For example, while it’s tempting to offer a discount to friends and family, sometimes too much generosity can backfire. That’s what happened to&nbsp;</SPAN><SPAN>Sonia Freer</SPAN><SPAN>, a driving educator from Australia.&nbsp;<EM>“</EM></SPAN><SPAN><EM>My challenge was pricing too low for 'mates’ rates' and leaving myself too short, barely covering my expenses and having nothing left to pay myself. I was working another two jobs to get by.”</EM>&nbsp;Fortunately, Sonia changed her ways – and her rates. She says,&nbsp;</SPAN><EM><SPAN>“I have started pricing correctly now and adding heaps of value so that my potential customers don't quibble on my prices!”</SPAN></EM></P> <P>&nbsp;</P> <P><FONT size="4"><STRONG>The takeaway?</STRONG></FONT><SPAN>&nbsp;Sometimes it really pays to “give a little to get a little.” If incentive pricing helps you close a deal, go forth and discount – as long as you’re sure it’s a smart decision for the long-term.</SPAN></P> <P>&nbsp;</P> <P><SPAN>We hope this roundup of insights, tips and strategies help you feel confident and informed about charging just the right rate for your offerings. On that note, we’ll leave you with a few more words of wisdom from another member of our community.&nbsp;</SPAN><SPAN>Michael Merritt</SPAN><SPAN>, a virtual assistant in London, shares this important reminder:</SPAN></P> <P>&nbsp;</P> <P><EM><SPAN>“When [people] see the value or understand the benefit of your product or service, not only do they seldom complain about the price being too high, they often walk away happy to have gotten it at the price the paid – and will even, on occasion, feel like they are taking advantage of you for having paid so little!”</SPAN></EM></P> <P>&nbsp;</P> <P><SPAN>Thanks, Michael. We couldn’t have said it better ourselves!</SPAN></P> <P>&nbsp;</P> <P><FONT size="5"><STRONG>Before you go</STRONG></FONT></P> <P><STRONG>How do you charge for your services? Do you charge what you're worth? Or do you think you should raise your pricing? Share you experiences below!</STRONG></P> <P>&nbsp;</P> Mon, 03 Sep 2018 11:08:59 GMT https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/pricing-101-four-strategies-to-help-you-charge-what-you-re-worth/01/155144#M5 QBCommunityUK 2018-09-03T11:08:59Z Invoice Like a Pro and Get Paid https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/invoice-like-a-pro-and-get-paid/01/155140#M4 <P><span class="lia-inline-image-display-wrapper lia-image-align-center" style="width: 860px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/4143i50A3DE80208191CF/image-size/large?v=1.0&amp;px=999" alt="Stocksy_Mighty Invoice-1.jpg" title="Stocksy_Mighty Invoice-1.jpg" /></span></P> <P>&nbsp;</P> <P>Here’s <STRONG>1</STRONG> thing just about all small business owners have in common: the need to send invoices. Whether you sell handmade products or offer targeted client services, invoices are key to keeping your business afloat. Problem is, plenty of us don’t realise—or leverage—the true power of this all-important tool.</P> <P>&nbsp;</P> <P><STRONG>Make it personal</STRONG></P> <P>These days, information-overload is ubiquitous. No wonder it’s easy to overlook or ignore a standard grey email or a dull printed page. A personalised, thoughtfully designed invoice stands out in a cluttered inbox or an ever-growing pile of papers. So how do you get your invoice to attract more attention?</P> <P>&nbsp;</P> <P><STRONG>Name drop.</STRONG> Just as using someone’s name in conversation keeps people focused on what you’re saying, personalising your invoice helps it get noticed. Include these 4 names on every invoice:</P> <P>&nbsp;</P> <UL> <LI>The company you’re billing</LI> <LI>The person processing the invoice</LI> <LI>Your manager or point of contact</LI> <LI>Your company or yourself</LI> </UL> <P>&nbsp;</P> <P>Include a personal message. A comment box is a perfect place to put a friendly but professional message to your client. Some ideas for filling in the comment box:</P> <P>&nbsp;</P> <UL> <LI>Thank you!</LI> <LI>My favourite aspect of this project was…</LI> <LI>I thought you might enjoy this link to… (<EM>information related to the topic or industry</EM>)</LI> <LI>Here’s the contact info for a professional I think you’d enjoy working with…</LI> <LI>I’d love the opportunity to work together again in the future.</LI> </UL> <P>&nbsp;</P> <P>&nbsp;</P> <P><A href="https://qbcommunity.com/plugins/common/feature/saml/doauth/post?referer=https%3A%2F%2Fqbcommunity.com%2F&amp;cid=soc_qbcommunity_test_us_qbcom-sig_CTAtop_link_050919-063018_community" target="_blank"><IMG src="https://farm1.staticflickr.com/948/27281801857_2b4f30fcb9.jpg" border="0" align="right" /></A></P> <P><STRONG>Make it professional</STRONG></P> <P>You may not have thought about it, but your invoice is your final point of communication with a client. In this context, an invoice is an important tool for brand building, marketing and engagement. So it pays to make sure this document reflects your professional, organised, detail-oriented approach to work. Here are 3 things to keep in mind:</P> <P>&nbsp;</P> <UL> <LI><STRONG>Design matters</STRONG><STRONG>.</STRONG> A well-laid out invoice is straightforward, easy to read and enjoyable to look at (no matter how big your bill). When it also showcases your logo and reinforces your brand presence, your invoice keeps your business top of mind—so you’re already a step ahead of the competition.</LI> </UL> <P>&nbsp;</P> <UL> <LI><STRONG>Readability matters</STRONG><STRONG>.</STRONG> When it comes to choosing fonts and colours, make sure yours are easy to read. Yellow is dandy for daffodils, and swirly scripts are sweet in a love letter—but keep them out your hard-working invoice.</LI> </UL> <P>&nbsp;</P> <UL> <LI><STRONG>Mistakes matter</STRONG><STRONG>.</STRONG> Typos, misspellings and other seemingly small mistakes indicate sloppiness, not professionalism. Check your invoice before you send it and catch those not-so-insignificant errors.</LI> </UL> <P>&nbsp;&nbsp;<STRONG>&nbsp;</STRONG></P> <P><STRONG>Make it work</STRONG></P> <P>Now that we’ve covered some invoicing fundamentals, let’s talk about what you need to do to leverage an invoice’s full power. Here are our top tips for getting the most out of every invoice:</P> <P>&nbsp;</P> <UL> <LI><STRONG>Invoice on time, every time</STRONG>. When you bill consistently every week, month or otherwise, you subtly, yet effectively, remind your customers that you expect prompt regular payment.</LI> </UL> <UL> <LI><STRONG>Avoid ambiguity</STRONG>. The way you organise your invoice should be as consistent as your billing schedule. If a client is confused about the total bill or when payment is due, you’re more likely to go unpaid.</LI> </UL> <UL> <LI><STRONG>Set clear expectations</STRONG>. Late payments are a hassle at best. At worst, they can leave you in a financial bind. Best bet? Negotiate all terms, including fees for overdue payment, up front.</LI> </UL> <UL> <LI><STRONG>Reward early payments</STRONG>. If your client is eager to pay ahead of schedule, consider offering a meaningful discount to incentivise this behaviour. (On a related note, your late-payment penalty should also be significant enough to inspire a change of behaviour).</LI> </UL> <UL> <LI><STRONG>Simplify payment processing</STRONG>. Paypal, iZettle and Apple Pay are just three of countless money management platforms that streamline payment with just a click, tap or swipe.</LI> </UL> <UL> <LI><STRONG>Automate (almost) everything</STRONG>. Every aspect of invoicing is easier, faster and more consistent when you have an automated system. You can get a lot of insight around billing patterns and practices and client behaviour, which means you can adjust your billing strategy easily.</LI> </UL> <P>&nbsp;</P> <P>Invoices are a critical communication device that can help you get paid on time, every time. An effective invoice builds your brand, strengthens client relationships and keeps you at the top of the list whenever your customer needs help. So it literally pays to get your invoicing strategy right.</P> <P>&nbsp;</P> <P><FONT size="3">Want to learn even more about effective invoicing? Here's a&nbsp;helpful post:</FONT></P> <P><FONT size="3"><A href="https://qbcommunity.com/t5/Getting-paid/Boost-Your-Cash-Flow-In-3-Simple-Steps/m-p/155134#M3" target="_blank">Boost Your Cash Flow in 3 Simple Steps</A></FONT></P> <P>&nbsp;</P> <P><STRONG><FONT size="3">Before you go</FONT></STRONG></P> <P><STRONG><FONT size="3">QB Community members, when it comes to asking for (and receiving) payment, what’s your biggest frustration? Comment below and let's share our experiences!&nbsp;</FONT></STRONG></P> <P>&nbsp;</P> <P><FONT size="3"><span class="lia-inline-image-display-wrapper lia-image-align-left" style="width: 197px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/5515i20AFFC7F7BEAA6C4/image-size/large?v=1.0&amp;px=999" alt="small.jpeg" title="small.jpeg" /></span></FONT></P> <P>&nbsp;</P> <P>&nbsp;</P> <P><STRONG><FONT size="4">Want to join the conversation but not yet a QB Community member? Click <A href="https://qbcommunity.com/plugins/common/feature/saml/doauth/post?referer=https%3A%2F%2Fqbcommunity.com%2F&amp;cid=soc_qbcommunity_test_us_qbcom-sig_CTAbottom_link_050918-063018_community" target="_blank">HERE</A> to sign up in a flash!</FONT></STRONG></P> <P>&nbsp;</P> Tue, 19 Jun 2018 17:18:04 GMT https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/invoice-like-a-pro-and-get-paid/01/155140#M4 QBCommunityUK 2018-06-19T17:18:04Z Boost Your Cash Flow In 3 Simple Steps https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/boost-your-cash-flow-in-3-simple-steps/01/155134#M3 <P>&nbsp;</P> <P><span class="lia-inline-image-display-wrapper lia-image-align-center" style="width: 580px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/5663iFE86293D6004F6AC/image-size/large?v=1.0&amp;px=999" alt="post_content_Stocksy_txp6e1ff197s57000_Small_44194.jpg" title="post_content_Stocksy_txp6e1ff197s57000_Small_44194.jpg" /></span></P> <P>&nbsp;</P> <P>We love sharing financial advice from Dawn Fotopulos, author of <A href="https://www.amazon.co.uk/Accounting-Numberphobic-Survival-Business-Owners/dp/0814434320/ref=sr_1_1?ie=UTF8&amp;qid=1524648838&amp;sr=8-1&amp;keywords=accounting+for+the+numberphobic&amp;dpID=51UkaZ0FOZL&amp;preST=_SY291_BO1,204,203,200_QL40_&amp;dpsrc=srch" target="_blank">Accounting for the Numberphobic: A Survival Guide for Small Business Owners</A>. With more than 20 years’ experience helping small business owners thrive, Dawn loves educating entrepreneurs about all money matters. In this article, we turn to Dawn to learn how to boost cash flow in 3 simple steps.</P> <P><A href="https://qbcommunity.com/plugins/common/feature/saml/doauth/post?referer=https%3A%2F%2Fqbcommunity.com%2F&amp;cid=soc_qbcommunity_test_us_qbcom-sig_CTAtop_link_050919-063018_community" target="_blank"><IMG src="https://farm1.staticflickr.com/948/27281801857_2b4f30fcb9.jpg" border="0" align="right" /></A></P> <P>&nbsp;</P> <P>&nbsp;</P> <P><STRONG>Step 1: Invoice, invoice, invoice</STRONG>&nbsp;</P> <P>Dawn can’t say enough about the power of an invoice. If you need to boost your cash flow fast, one of the easiest things you can do is send out an invoice <EM>right now</EM>. Here are some important tips about getting the most out of this money-generating tool.</P> <P>&nbsp;</P> <UL> <LI><STRONG>Send invoices promptly</STRONG>. “Don’t let the sun go down without invoicing a client if it’s time”, Dawn advises. If getting paid isn’t your priority, it won’t be your customer’s, either. Sometimes people genuinely forget when their payment is due, so don’t just assume they know what you’re owed.</LI> </UL> <UL> <LI><STRONG>Negotiate terms up front</STRONG>. Explain all your terms and conditions <EM>before</EM> you send the first invoice. For example, if you expect payment “net 30” (within 30 days of the client receiving the invoice), then a payment is overdue on day 31. If you charge a late fee, make sure your customers are aware of the penalty. Just as important? Make a commitment to charging the additional fee, if and when it’s needed.</LI> </UL> <UL> <LI><STRONG>Get empowered by your invoice.</STRONG> Yes, you read that right. Some new business owners confess sending an invoice the day it’s due makes them feel like they’re begging for money. Think again. Dawn reminds us that “when you do work for someone, you deserve to get paid for it”.&nbsp;&nbsp;</LI> </UL> <UL> <LI><STRONG>Don’t go unpaid. </STRONG>The longer someone owes you money the less likely it is you’ll get paid. So send that overdue invoice now!</LI> </UL> <P>&nbsp;</P> <P><STRONG>Step 2: Keep it simple </STRONG>&nbsp;</P> <P>When you make it really, really easy for clients to pay you, it’s a lot more likely they will. In this case, “easy” means a couple different things.</P> <P>&nbsp;</P> <UL> <LI><STRONG>Set up a simple payment plan</STRONG>. If you’re working on a long-term, ongoing or multi-phase project, sending one invoice for a huge sum at the end of a project could cause the customer to choke (literally and figuratively). Instead, plan to invoice for smaller amounts at key interim stages—just make sure everyone has agreed to this ahead of time.</LI> </UL> <UL> <LI><STRONG>Set up a simple payment system</STRONG>. Whatever billing and payment system you use—QuickBooks, PayPal, Paym or one of the countless others—make sure it’s as simple for the customer to use as it is for you. In this age of high-tech everything, no one should struggle with a cumbersome or confusing way to request, send or receive money.</LI> </UL> <P>&nbsp;</P> <P><STRONG>Step 3: Make a new friend</STRONG></P> <P>Not just any friend, mind you: Dawn wants you to get friendly with your clients’ accounts payable officer. After all, this person is the key to your cash flow. “I make a point to get to know these people on a first-name basis”, she explains. “I genuinely appreciate it when someone in accounts payable processes my bill, and I always send a thank you note.” When you pay your respects to the accounts payable officers, chances are they’ll make paying your invoice a priority.</P> <P>&nbsp;</P> <P><STRONG>Ask the expert</STRONG>&nbsp;</P> <P>Here, Dawn weighs in on questions and concerns about cash flow from small business owners like you.</P> <P>&nbsp;</P> <P><STRONG><EM>Q</EM></STRONG><EM>: I’m getting better and better-collecting payment, but my company still has trouble getting paid, no matter how big or small the customer. Would you recommend we get a pre-authorised credit card number, just like at a hotel when you make a reservation?</EM></P> <P>&nbsp;</P> <P><STRONG><EM>A</EM></STRONG><EM><STRONG>:</STRONG> The credit card solution might work. You'll get the cash sooner, and this approach gives customers some time-float. You have nothing to lose by asking. Also, don’t forget to invoice more frequently in smaller increments. That might make it easier for the client to pay your bills faster. </EM></P> <P>&nbsp;</P> <P><STRONG><EM>Q</EM></STRONG><EM>: Should I be looking at my books based on available cash or based on accrual? &nbsp;</EM></P> <P>&nbsp;</P> <P><STRONG><EM>A</EM></STRONG><EM>: If you want a true view of what's really going on in your business, use the accrual method of accounting. That reveals what you owe others but haven't paid yet. It's important you know this. The cash in the bank does not give you a clear picture of how much cash you actually have if, for example, you owe subcontractors a tonne of money. </EM></P> <P>&nbsp;</P> <P><EM>I had 1 client who thought she had 18 months of operating capital. We looked at her books on an accrual basis and found she had less than 60 days’ cash on hand. Learn from her mistake! When you owe £360,000 to developers and are accounting on a cash basis, you're blind to liabilities. </EM></P> <P>&nbsp;</P> <P><EM><STRONG>Q</STRONG>: </EM><EM>I’m in my fourth year of business. I suspect that in my first 5 years, I’ll probably have a lot more expenses than I will later on. Right now, cash flow is still tight. Is that typical?</EM></P> <P><EM>&nbsp;</EM></P> <P><STRONG><EM>A</EM></STRONG><EM>: Yes, this scenario is typical. In my 17 years of coaching, I’ve seen so many small businesses expand their expenses way too fast. In the first 3 years of operation, you need to squeeze every pound you have.</EM></P> <P>&nbsp;</P> <P><STRONG><EM>Q</EM></STRONG><EM>: I invoice once a month, at the start of the month, billing for the previous month. Since I track time, it's a pain to get from my time tracker (Toggl) into QuickBooks, so I batch it together. How does that sound?</EM></P> <P><EM>&nbsp;</EM></P> <P><EM><STRONG>A</STRONG>: It sounds fantastic and it shows great resolve. Invoice automation is incredibly helpful—and it keeps us honest!</EM></P> <P><EM>&nbsp;</EM></P> <P><SPAN>Want to read more about why your money matters? Have a browse through the articles below... From Dawn and other QB Community experts:</SPAN></P> <P>&nbsp;</P> <UL> <LI><A href="https://qbcommunity.com/t5/Managing-your-money/How-to-Track-Your-Cash-and-Keep-It-Flowing/m-p/155186#M3" target="_blank">How to Track Your Cash and Keep It Flowing</A></LI> <LI><A href="https://qbcommunity.com/t5/Managing-your-money/Grow-Your-Business-By-Sorting-Out-Your-Balance-Sheet/m-p/155189#M4" target="_blank">Grow Your Business By Sorting Out Your Balance Sheet</A></LI> <LI><SPAN><A href="https://qbcommunity.com/t5/Managing-your-money/Let-s-Do-the-Math-Your-Target-Number/m-p/155192#M5" target="_blank">Let’s Do the Math: Know Your Target Number</A></SPAN></LI> </UL> <P>&nbsp;</P> <P><SPAN><span class="lia-inline-image-display-wrapper lia-image-align-left" style="width: 197px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/5666i4D9C407B36C4A142/image-size/large?v=1.0&amp;px=999" alt="small.jpeg" title="small.jpeg" /></span></SPAN></P> <P>&nbsp;</P> <P>&nbsp;</P> <P><STRONG>Want to join the conversation?&nbsp;Click <A href="https://qbcommunity.com/plugins/common/feature/saml/doauth/post?referer=https%3A%2F%2Fqbcommunity.com%2F&amp;cid=soc_qbcommunity_test_us_qbcom-sig_CTAbottom_link_050918-063018_community" target="_blank">HERE</A> to sign up in a flash!</STRONG></P> Tue, 19 Jun 2018 17:17:29 GMT https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/boost-your-cash-flow-in-3-simple-steps/01/155134#M3 QBCommunityUK 2018-06-19T17:17:29Z
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<channel>
<title>Getting paid topics</title>
<link>
https://quickbooks.intuit.com/learn-support/getting-paid/misc/02/GettingPaidUK
</link>
<description>Getting paid topics</description>
<pubDate>Wed, 21 Aug 2019 16:37:15 GMT</pubDate>
<dc:creator>GettingPaidUK</dc:creator>
<dc:date>2019-08-21T16:37:15Z</dc:date>
<item>
<title>
My bank details are not showing when you print my invoices sent from Quick books
</title>
<link>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/my-bank-details-are-not-showing-when-you-print-my-invoices-sent/01/333456#M126
</link>
<description>
<P>My bank details are not showing when you print my invoices sent from Quick books.</P><P>&nbsp;</P><P>&nbsp;</P><P>Can someone fix this for me?</P>
</description>
<pubDate>Tue, 25 Jun 2019 11:23:53 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/my-bank-details-are-not-showing-when-you-print-my-invoices-sent/01/333456#M126
</guid>
<dc:creator>lutay</dc:creator>
<dc:date>2019-06-25T11:23:53Z</dc:date>
</item>
<item>
<title>
Invoices - Setting Up an Invoice That is Due 30 Days From The End of The Month
</title>
<link>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/invoices-setting-up-an-invoice-that-is-due-30-days-from-the-end/01/175823#M102
</link>
<description>
<P><span class="lia-inline-image-display-wrapper lia-image-align-center" style="width: 450px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/7018i74384BE145CB37B0/image-size/large?v=1.0&amp;px=999" alt="33103198_s.jpg" title="33103198_s.jpg" /></span></P><P>&nbsp;</P><P>A recent client of ours asked us if it were possible to create terms for an invoice that would allow them to make it payable 30 days onwards from the end of the month the invoice was raised.</P><P>&nbsp;</P><P><EM>For example: creating conditions where an invoice made on <STRONG>07/05/18</STRONG> would instead be due on the <STRONG>30/06/18</STRONG> as opposed to the <STRONG>31/05/18.</STRONG></EM></P><P><EM>&nbsp;</EM></P><P><FONT size="4"><STRONG>How?</STRONG></FONT></P><P>&nbsp;</P><P><STRONG>1.</STRONG> Firstly, go into your QuickBooks account and select ‘Account and Settings’ found under the ‘Company Cog’ in the top right corner.</P><P>&nbsp;</P><P><STRONG>2.</STRONG> Navigate to the ‘Sales ‘option on the left-hand side, click on ‘Sales form content’, select the drop-down menu option to the right-hand side of Preferred invoice terms’ and then select ‘Add new’.</P><P>&nbsp;</P><P><STRONG>3.</STRONG> As seen below, start by entering in the correct name for the term you are using, which in this case would be ‘30 days from the end of the month’.</P><P>&nbsp;</P><P><STRONG>4.</STRONG> As you want the invoice to be due by the last day of the month, select the option ‘Due by certain day of the month’ and enter ‘31’ into the first box.</P><P>&nbsp;</P><P><STRONG>5.</STRONG> As you want the invoice to be made payable 30 days after the due date enter ‘30’ into the box named ‘Due the next month if issued within’.</P><P>&nbsp;</P><P><STRONG>6.</STRONG> Finally, it will give you the option to apply a discount if the payment is made early which you may enter if you offer such terms, otherwise click save.</P><P>&nbsp;</P><P>&nbsp;</P><P><span class="lia-inline-image-display-wrapper lia-image-align-center" style="width: 254px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/7021i80D7B06901FB4626/image-size/large?v=1.0&amp;px=999" alt="Capture.PNG" title="Capture.PNG" /></span></P><P>&nbsp;</P><P>&nbsp;Now, whenever you create an invoice, under the ‘Terms’ drop-down menu it will give you the option to select the new term you have just created making it possible to make the amount payable 30 days from the end of the month.</P><P>&nbsp;</P><P>Watch my YouTube video for further help!</P><P><A href="https://www.youtube.com/watch?v=c6AbAYC5Cd8" target="_blank">https://www.youtube.com/watch?v=c6AbAYC5Cd8</A></P>
</description>
<pubDate>Wed, 05 Sep 2018 14:43:03 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/invoices-setting-up-an-invoice-that-is-due-30-days-from-the-end/01/175823#M102
</guid>
<dc:creator>MatthewLay</dc:creator>
<dc:date>2018-09-05T14:43:03Z</dc:date>
</item>
<item>
<title>Online Payroll, entering negatiev tax code (UK)</title>
<link>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/online-payroll-entering-negatiev-tax-code-uk/01/170250#M75
</link>
<description>
<P>Hi, I'm hoping someone in the UK can help me with this.</P><P>&nbsp;</P><P>I've just received an HMRC coding notice and need to change a tax code in QBO Online Payroll to K242 - a "K" code denotes a negative tax allowance. Unfortunately Online Payroll doesn't appear to accept this tax code as being valid. Any ideas how I can enter this?</P><P>&nbsp;</P><P>Thanks</P>
</description>
<pubDate>Sun, 22 Jul 2018 08:47:07 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/online-payroll-entering-negatiev-tax-code-uk/01/170250#M75
</guid>
<dc:creator>PaulClark</dc:creator>
<dc:date>2018-07-22T08:47:07Z</dc:date>
</item>
<item>
<title>Fees</title>
<link>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/fees/01/169672#M73
</link>
<description>
<P>Is there a way to pass along the credit card fees to our clients?</P>
</description>
<pubDate>Tue, 17 Jul 2018 16:50:17 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/fees/01/169672#M73
</guid>
<dc:creator>muddhaven</dc:creator>
<dc:date>2018-07-17T16:50:17Z</dc:date>
</item>
<item>
<title>Part direct deposit, part paycheck</title>
<link>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/part-direct-deposit-part-paycheck/01/168076#M65
</link>
<description>
<P>Is there a way to directly deposit an amount and get a check for the balance?</P>
</description>
<pubDate>Mon, 02 Jul 2018 17:15:50 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/part-direct-deposit-part-paycheck/01/168076#M65
</guid>
<dc:creator>Mott</dc:creator>
<dc:date>2018-07-02T17:15:50Z</dc:date>
</item>
<item>
<title>
QUESTION: Has your approach to invoicing evolved since you started your business?
</title>
<link>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/question-has-your-approach-to-invoicing-evolved-since-you/01/163708#M43
</link>
<description>
<P><span class="lia-inline-image-display-wrapper lia-image-align-right" style="width: 400px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/5223iFAC96C90F125994E/image-size/medium?v=1.0&amp;px=400" alt="medium.jpeg" title="medium.jpeg" /></span></P> <P>Keeping invoices organised can be a difficult task. Creating them can sometimes be a laborious activity, and when things don’t always work out, it can become very frustrating.</P> <P><STRONG><EM>&nbsp;</EM></STRONG></P> <P>Whether you started your business a couple of weeks ago <EM>or</EM> years ago, we want to know how your approach to invoicing has changed! <img id="smileyhappy" class="emoticon emoticon-smileyhappy" src="https://quickbooks.intuit.com/learn-support/s/i/smilies/16x16_smiley-happy.png" alt="Smiley Happy" title="Smiley Happy" />&nbsp;</P> <P>&nbsp;</P> <P><FONT size="3"><STRONG>How do you approach the task of invoicing now?&nbsp;</STRONG></FONT></P> <P>&nbsp;</P> <P><FONT size="3"><STRONG>Comment your tips and tricks below!</STRONG></FONT></P> <P><FONT size="3">&nbsp;</FONT></P> <P>&nbsp;</P> <P><EM>Join and become a member... It's free! -&nbsp;</EM><STRONG><EM>&nbsp;<A href="https://accounts.intuit.com/signup.html?offering_id=Intuit.sbe.salsa.default&amp;redirect_url=https%3A%2F%2Fidfedprdpf.intuit.com%2Fidp%2FstartSSO.ping%3FPartnerSpId%3Dooxbu36397.lithium.com&amp;referer=https%3A%2F%2Fqbcommunity.com%2F" target="_blank">Join the QB Community!</A></EM></STRONG></P> <HR /> <DIV align="center"> <P><A class="lia-button lia-button-primary" href="https://qbcommunity.com/t5/UK-QuickBooks-Community/ct-p/community-uk" target="_blank">QB Community UK<STRONG> Home</STRONG></A>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;<A class="lia-button lia-button-primary" href="https://qbcommunity.com/t5/custom/page/page-id/CommunityBrowser-UK#business-discussions" target="_blank">Talk About Your <STRONG>Business</STRONG></A>&nbsp;<BR /><BR />&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<A class="lia-button lia-button-primary" href="https://qbcommunity.com/t5/Finding-inspiration/bd-p/FindingInspirationUK" target="_blank">Find <STRONG>Inspiration</STRONG></A>&nbsp; &nbsp; &nbsp;</P> </DIV>
</description>
<pubDate>Wed, 30 May 2018 10:46:23 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/question-has-your-approach-to-invoicing-evolved-since-you/01/163708#M43
</guid>
<dc:creator>Jess W</dc:creator>
<dc:date>2018-05-30T10:46:23Z</dc:date>
</item>
<item>
<title>Giving a great referral!</title>
<link>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/giving-a-great-referral/01/158322#M23
</link>
<description>
<P><SPAN>What is the best referral you've ever *given* to a fellow small business owner or self-employed professional?</SPAN></P> <P>&nbsp;</P> <P><EM>Please share your answer below -- we're looking forward to hearing more.</EM></P>
</description>
<pubDate>Tue, 17 Apr 2018 19:06:26 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/giving-a-great-referral/01/158322#M23
</guid>
<dc:creator>EmilyCowan</dc:creator>
<dc:date>2018-04-17T19:06:26Z</dc:date>
</item>
<item>
<title>
QUESTION: If you could sit down to dinner with 3 other business owners...
</title>
<link>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/question-if-you-could-sit-down-to-dinner-with-3-other-business/01/157696#M21
</link>
<description>
<P><SPAN data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;If you could sit down to dinner with 3 other business owners (anyone, alive or dead!), who would you choose and why?&quot;}" data-sheets-userformat="{&quot;2&quot;:8403901,&quot;3&quot;:{&quot;1&quot;:0},&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;10&quot;:2,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri, sans-serif&quot;,&quot;16&quot;:12,&quot;26&quot;:400}">... anyone living today (or not!), w</SPAN>ho would you choose and why?</P>
</description>
<pubDate>Mon, 21 May 2018 14:30:02 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/question-if-you-could-sit-down-to-dinner-with-3-other-business/01/157696#M21
</guid>
<dc:creator>ShanaNiederman</dc:creator>
<dc:date>2018-05-21T14:30:02Z</dc:date>
</item>
<item>
<title>
QUESTION: Do you have a story to tell about getting paid (or *not* getting paid)?
</title>
<link>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/question-do-you-have-a-story-to-tell-about-getting-paid-or-not/01/155184#M17
</link>
<description>
<P>&nbsp;</P> <P><span class="lia-inline-image-display-wrapper lia-image-align-right" style="width: 400px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/5516iE1C37E2D5F6800EA/image-size/medium?v=1.0&amp;px=400" alt="megaphone.stocksy.jpg" title="megaphone.stocksy.jpg" /></span></P> <P>&nbsp;</P> <P>Getting paid is a priority for every entrepreneur. We're guessing you've all got stories to share about your experiences asking for, waiting for or getting (<EM>or not)</EM> your hard-earned payment. We want to hear all about it!</P> <P><FONT size="4">&nbsp;</FONT></P> <P><FONT size="4"><STRONG>Tell us your favourite or, perhaps, your least favourite moment related to getting paid in the comments below!</STRONG></FONT></P> <P>&nbsp;</P> <P>&nbsp;</P>
</description>
<pubDate>Mon, 11 Jun 2018 16:19:01 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/question-do-you-have-a-story-to-tell-about-getting-paid-or-not/01/155184#M17
</guid>
<dc:creator>QBCommunityUK</dc:creator>
<dc:date>2018-06-11T16:19:01Z</dc:date>
</item>
<item>
<title>
QUESTION: Have you ever raised your prices? What happened?
</title>
<link>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/question-have-you-ever-raised-your-prices-what-happened/01/155180#M16
</link>
<description>
<DIV class="lia-message-subject lia-component-message-view-widget-subject"> <DIV class="MessageSubject"><FONT size="3">Raising the price for your goods or services can be daunting. What if you lose your valued customers as a result? On the other hand, you need to turn a profit if you're going to stay in business, so sometimes a rate-hike is a&nbsp;smart business strategy. </FONT></DIV> <DIV class="MessageSubject">&nbsp;</DIV> <DIV class="MessageSubject"><FONT size="5">Tell us:&nbsp;</FONT><EM><FONT size="5"><STRONG>Have you ever raised your prices? What happened? In the long run, was it a good or a bad decision?</STRONG></FONT></EM></DIV> </DIV>
</description>
<pubDate>Mon, 21 May 2018 14:27:51 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/question-have-you-ever-raised-your-prices-what-happened/01/155180#M16
</guid>
<dc:creator>QBCommunityUK</dc:creator>
<dc:date>2018-05-21T14:27:51Z</dc:date>
</item>
<item>
<title>More Invoice Tips to Help You Get Paid Every Time</title>
<link>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/more-invoice-tips-to-help-you-get-paid-every-time/01/155177#M15
</link>
<description>
<P><span class="lia-inline-image-display-wrapper lia-image-align-center" style="width: 866px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/4153i1E4EE0519DDD0654/image-size/large?v=1.0&amp;px=999" alt="Sterling_Small_1269704.jpg" title="Sterling_Small_1269704.jpg" /></span></P> <P>&nbsp;</P> <P>&nbsp;</P> <P>We’ve already shared some tips for <A href="https://qbcommunity.com/t5/Getting-paid/Invoice-Like-a-Pro-and-Get-Paid/m-p/155140#M4" target="_self">invoicing like a pro</A> to help you get paid faster, strengthen your brand presence and make you the first person a client calls to get a job done. Here, we’re giving some advice on upping your invoice game even more.</P> <P>&nbsp;</P> <P><STRONG>Embrace new technology</STRONG></P> <P>There are so many digital technologies at your disposal today that make life easier for both you and your customers. Here are a few you should add to your invoicing strategy.</P> <P>&nbsp;</P> <UL> <LI><STRONG>A</STRONG> <STRONG>financial management platform</STRONG>—like QuickBooks—makes it quick and easy to create, send and track your invoices online. And it will minimise payment hassles for your customer</LI> <LI><STRONG>Mobile payments</STRONG>—Speaking of painless processing, mobile payment technology lets you swipe a credit or debit card anywhere, any time. On-the-spot payment (no invoicing required!) is particularly useful for small business owners who deliver products or services directly to a home or office</LI> <LI><STRONG>Cloud storage</STRONG>—You may be planning a much-deserved beach holiday, but there’s no need for your invoices to take any time off. A cloud-based management solution lets you send invoices as always. Best of all? You can receive payments while you sunbathe&nbsp;&nbsp;</LI> </UL> <P>&nbsp;</P> <P>&nbsp;</P> <P><A href="https://qbcommunity.com/plugins/common/feature/saml/doauth/post?referer=https%3A%2F%2Fqbcommunity.com%2F&amp;cid=soc_qbcommunity_test_us_qbcom-sig_CTAtop_link_050919-063018_community" target="_blank"><IMG src="https://farm1.staticflickr.com/948/27281801857_2b4f30fcb9.jpg" border="0" align="right" /></A></P> <P><STRONG>Be flexible (to a point)</STRONG></P> <P>Of course, you want to be paid on time, but it’s okay to be flexible with your trusted paying customers. If a valuable client is waiting to get a new round of funding, for example, you can show goodwill (and great customer service) by offering to temporarily renegotiate payment terms to ease any financial burden. Here are some other ways to showcase your flexibility to customers:</P> <P>&nbsp;</P> <UL> <LI>Discuss a <STRONG>retainer-based agreement</STRONG> that guarantees you a set number of hours and pounds each month and helps keep your client’s budget predictable.</LI> <LI><STRONG>Highlight your payment options</STRONG>. Let your customers know you’ll take standing order, a cheque or an online credit card payment—whatever works best for them.</LI> </UL> <P><STRONG>&nbsp;</STRONG></P> <P><STRONG>Make friends with the right people</STRONG></P> <P>Expedite your payment processing by making sure your invoice goes to the right person in the right department. Remember, the person who writes cheques in accounts payable is unlikely to be the point-person for your graphic design project.</P> <P>&nbsp;</P> <P>Another critical detail: does the person handling your invoice need a purchase order? Find out and make sure you include it on your invoice—or risk having your payment get snarled in some sticky red tape.</P> <P>&nbsp;</P> <P><STRONG>Show your appreciation</STRONG></P> <P>On the subject of making friends, in business—like everywhere else—little gestures go a long way. Consider doing these things to help you get paid faster:</P> <P>&nbsp;</P> <UL> <LI><STRONG>Incentivise early payments.</STRONG> Imagine if clients paid <EM>before</EM> the bill was due. If you offer a discount—enough to make it worth their while but not so much that you’re being underpaid—for proactive payments, it might just happen</LI> <LI><STRONG>Say thanks.</STRONG> Every time you receive your money, send a heartfelt, handwritten note to the accounts payable officer.</LI> <LI><STRONG>Send a gift</STRONG>. Surprise your most loyal customers each quarter with a gift that shows how much you value their business</LI> </UL> <P>&nbsp;</P> <P>When every part of your invoicing system is clear, streamlined, easy and efficient, you make the payment process as enjoyable as possible. And the bottom line is this: happy customers are more likely to be paying customers.</P> <P>&nbsp;</P> <P><FONT size="3"><STRONG>Before you go...</STRONG></FONT></P> <P><STRONG><FONT size="3">QB Community members, has your approach to invoicing evolved since you started your business? Please share what you’ve learned in the comments below... We would love to hear your experiences!</FONT></STRONG></P> <P><FONT size="3">&nbsp;</FONT></P>
</description>
<pubDate>Tue, 19 Jun 2018 17:18:54 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/more-invoice-tips-to-help-you-get-paid-every-time/01/155177#M15
</guid>
<dc:creator>QBCommunityUK</dc:creator>
<dc:date>2018-06-19T17:18:54Z</dc:date>
</item>
<item>
<title>How To Manage Customers Who Pay Late</title>
<link>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/how-to-manage-customers-who-pay-late/01/155175#M14
</link>
<description>
<P><span class="lia-inline-image-display-wrapper lia-image-align-center" style="width: 866px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/4152i9F98EA3716A1F4BE/image-size/large?v=1.0&amp;px=999" alt="Stocksy_Frustrated Late Payments 3_1343075.jpg" title="Stocksy_Frustrated Late Payments 3_1343075.jpg" /></span></P> <P>&nbsp;</P> <P>&nbsp;</P> <P>Dealing with late payments from a customer is simply no fun. And when your client is a chronic offender, financial tardiness is more than just annoying. Consistently late payments can severely curb your cash flow and put your whole business at risk.</P> <P>&nbsp;</P> <P>Here, we delve into how you can use your invoice to avoid late payments. And if your invoice doesn’t work, we examine what you need to do to collect on those past-due payments.</P> <P><STRONG>&nbsp;</STRONG></P> <P><STRONG>Send your invoices on time</STRONG></P> <P>We’ve <A href="https://qbcommunity.com/t5/Getting-paid/Boost-Your-Cash-Flow-In-3-Simple-Steps/m-p/155134#M3" target="_self">said it before</A>, and we’ll <A href="https://qbcommunity.com/t5/Getting-paid/Invoice-Like-a-Pro-and-Get-Paid/m-p/155140#M4" target="_self">say it again</A>. Nothing gets you paid faster and more reliably than sending your invoice as soon as it’s due. Whether your payment cycle is weekly, monthly or something else entirely, stick like Velcro to your agreed-upon schedule.</P> <P>&nbsp;</P> <P><STRONG>Negotiate terms up front</STRONG></P> <P>Speaking of payment schedules, make sure you and your client agree to one during your initial contract negotiations. Put all the terms in writing so there’s no room for misunderstandings about deadlines or late fees. Experts say the payment deadline “sweet spot” is 10 to 15 days after receipt of an invoice.</P> <P>&nbsp;</P> <P><STRONG>Penalise late payments</STRONG></P> <P>A standard late fee is 1-2% of the total amount due. Whatever penalty you choose to enforce, make sure it’s steep enough to change your client’s bad behaviour.</P> <P>&nbsp;</P> <P><STRONG>Keep clients’ credit cards on file </STRONG></P> <P>If your business has recurring customers, keeping their credit card on file can minimise payment headaches for both of you. Just be sure to get permission <EM>in writing</EM> to charge the card, and make certain you store their private information safely and in full compliance with <U><A href="https://www.pcisecuritystandards.org/" target="_blank">PCI standards</A></U>.</P> <P>&nbsp;</P> <P>If you’re sending invoices using an online financial management platform, you can set up automated, direct payments from an approved credit card. &nbsp;</P> <P>&nbsp;</P> <P><STRONG>Consider invoice financing</STRONG></P> <P>If you’re really strapped for cash, you might seek out a special type of loan for the amount you’re owed, or due to be owed. Known as invoice factoring or invoice financing, such loans are possible if your invoices are due and payable within 90 days and the businesses you work with are reputable and have good credit scores.</P> <P>&nbsp;</P> <P>The money you borrow through invoice factoring is equivalent to a loan, but the fees or interest varies depending on the provider. Factoring can be a great solution if you’re a fast-growing company that needs to free up cash from your outstanding invoices. Some factoring companies will even take on collections, chasing up your late payments for you.</P> <P>&nbsp;</P> <P><STRONG>What to do when your payment is late</STRONG>&nbsp;</P> <P>Some customers are notoriously nonchalant when it comes to paying what they owe no matter how punctual, professional or pretty your invoice. Here’s a roadmap for tracking down your money.</P> <P>&nbsp;</P> <P>For this example, let’s assume you’ve agreed payment is due on the 1st and 15th of every month.</P> <P>&nbsp;</P> <P>&nbsp;</P> <P><A href="https://qbcommunity.com/plugins/common/feature/saml/doauth/post?referer=https%3A%2F%2Fqbcommunity.com%2F&amp;cid=soc_qbcommunity_test_us_qbcom-sig_CTAtop_link_050919-063018_community" target="_blank"><IMG src="https://farm1.staticflickr.com/948/27281801857_2b4f30fcb9.jpg" border="0" align="right" /></A></P> <P><STRONG>Day 15</STRONG></P> <P>Your money is more than two weeks late. Time to send your customer a polite reminder. A good opening line for your communication? You’re just checking in to make sure the client received your invoice. Or consider this approach: since your second payment of the month is about to come due, send that invoice and include the original outstanding amount too.</P> <P>&nbsp;</P> <P><STRONG>Day 30</STRONG></P> <P>We know you’re frustrated, but skip the email missive and pick up the phone to find out how you can expedite the payment process. Emphasise the specific due date—and remind your client about the agreed-upon payment terms. If it’s possible to have this conversation in person, schedule a meeting ASAP.</P> <P>&nbsp;</P> <P><STRONG>Days 32-45</STRONG></P> <P>Time for some deep breaths. Don’t get furious. Get persistent. Touch base with your client several times during this period. It’s really important you stay calm and professional. Here are 2 other reminders:</P> <P>&nbsp;</P> <UL> <LI>Don’t deliver any new work until you’ve received your full payment (adjusted appropriately for incurred late fees)</LI> <LI>Throughout this time, keep sending an updated invoice that reflects both your outstanding original payment and the accrued penalties&nbsp;</LI> </UL> <P><STRONG>Day 60</STRONG></P> <P>Take a moment to send one more reminder, just in case your invoice has been moved to the next month’s “payment due” pile. If there’s no response, you might consider connecting with a collections agency. Unfortunately, radio silence may indicate your client has gone out of business. In this scenario, it may be time to cut your losses and assess what you can do differently to avoid this trying situation in the future.</P> <P>&nbsp;</P> <P><STRONG>Before you go</STRONG></P> <P><STRONG>QB Community members, have you had to “retrain” customers so they’re punctual with every payment? Please share your stories – and your strategies for success below in the comments!</STRONG></P> <P>&nbsp;</P> <P>&nbsp;</P> <P><STRONG><span class="lia-inline-image-display-wrapper lia-image-align-left" style="width: 197px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/5664i9BDD9CE77025F7E8/image-size/large?v=1.0&amp;px=999" alt="small.jpeg" title="small.jpeg" /></span></STRONG></P> <P>&nbsp;</P> <P>&nbsp;</P> <P><STRONG>Want to join the conversation? But not yet a QB Community member? Click <A href="https://qbcommunity.com/plugins/common/feature/saml/doauth/post?referer=https%3A%2F%2Fqbcommunity.com%2F&amp;cid=soc_qbcommunity_test_us_qbcom-sig_CTAbottom_link_050918-063018_community" target="_blank">HERE</A> to sign up in a flash!</STRONG></P> <P><STRONG>&nbsp;</STRONG></P> <P><STRONG><FONT size="3">Want to read more tactics and tips for getting paid? Check out this post:</FONT></STRONG></P> <P><STRONG><FONT size="3"><A href="https://qbcommunity.com/t5/Getting-paid/More-Invoice-Tips-To-Help-You-Get-Paid-Every-Time/m-p/155177#M15" target="_blank">More Invoice Tips To Help You Get Paid Every Time</A></FONT></STRONG></P>
</description>
<pubDate>Tue, 19 Jun 2018 17:16:46 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/how-to-manage-customers-who-pay-late/01/155175#M14
</guid>
<dc:creator>QBCommunityUK</dc:creator>
<dc:date>2018-06-19T17:16:46Z</dc:date>
</item>
<item>
<title>
Pricing 101: Four Strategies to Help You Charge What You’re Worth
</title>
<link>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/pricing-101-four-strategies-to-help-you-charge-what-you-re-worth/01/155144#M5
</link>
<description>
<P><span class="lia-inline-image-display-wrapper lia-image-align-center" style="width: 501px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/4146iD54237B4226CDD51/image-dimensions/501x560?v=1.0" width="501" height="560" alt="Stocksy_txp581659a00Yb100_Small_897660 (1).jpg" title="Stocksy_txp581659a00Yb100_Small_897660 (1).jpg" /></span></P> <P>&nbsp;</P> <P><SPAN>For entrepreneurs, here's a topic that comes up again and again: pricing. Figuring out how to set (or adjust) what you charge for your products or services is a conundrum that just about every small-business owner faces.</SPAN></P> <P>&nbsp;</P> <P><SPAN>Entrepreneurs selling a product like handmade jewellery or baked goods may be able to use a relatively straightforward mathematical formula along the lines of materials + overhead + time = price to determine their magic number. But for folks offering services – tax accountants, bookkeepers, social media consultants, brand strategists and graphic designers, for example – price-setting can be a little (or a lot) more challenging, especially when their “product” is less tangible than a delicious scone&nbsp;or sparkly earrings.</SPAN></P> <P>&nbsp;</P> <P><SPAN>We've turned to some&nbsp;enterprising&nbsp;entrepreneurs&nbsp;to identify key pricing challenges – and, more importantly, to share some key strategies for solving the all-important pricing puzzle.</SPAN></P> <P>&nbsp;</P> <OL> <LI><FONT size="4"><STRONG>Charge with confidence</STRONG></FONT></LI> </OL> <P><SPAN>Let’s face it: Sometimes the biggest obstacle to charging a profit-worthy rate is&nbsp;</SPAN><I><SPAN>you</SPAN></I><SPAN>. We know it’s not easy mustering the personal and professional confidence to ask a competitive rate. When the benefits of your services are hard to quantify precisely, it can feel downright nerve-wracking to set high prices, even when they reflect the high value you provide.&nbsp;</SPAN><SPAN>Natalie Cunha</SPAN><SPAN>, a tax preparer in Northern California, recalls a mistake she made during her early days as a small business owner:&nbsp;<EM>“I was charging too little. I worked like crazy, people-pleaser style, and at the end of the day, I was frustrated, upset, discouraged, uninspired. It’s been a process of realizing that I need to make sure the price works for ME, too.”</EM></SPAN></P> <P>&nbsp;</P> <P><SPAN>Bruce Daniels</SPAN><SPAN>, a social media strategist in the state of&nbsp;Washington, USA,&nbsp;regularly reminds himself it’s okay to charge full-price for his consulting services.&nbsp;<EM>“The whole object is to be profitable. We are likely better than we think we are, and we should never sell ourselves short.”</EM></SPAN></P> <P>&nbsp;</P> <P><FONT size="4"><STRONG>The takeaway?</STRONG></FONT><SPAN>&nbsp;Acknowledge any discomfort you might feel about charging what you’re&nbsp;</SPAN><I><SPAN>really</SPAN></I><SPAN>&nbsp;worth – and then go ahead and do it. (Remember, you can always find a way to offer a discount if necessary, but negotiating up in price is virtually impossible.)</SPAN></P> <P>&nbsp;</P> <OL start="2"> <LI><FONT size="4"><STRONG>Know the market</STRONG></FONT></LI> </OL> <P><SPAN>You can (and should) seriously boost your inner pricing confidence by doing some market analysis before you hang out your shingle. Operations specialist&nbsp;</SPAN><SPAN>Jeffrey Trejos&nbsp;</SPAN><SPAN>says the numbers you need may be just a click or two away. “</SPAN><SPAN>A quick and easy way to check your prices vs. your competitors is to do a search … in Amazon and Google. Consider what type of customers you want to market to and what they will be willing to pay.”</SPAN></P> <P>&nbsp;</P> <P><SPAN>For his part, Canadian entrepreneur&nbsp;</SPAN><SPAN>Jeffrey P. Marson</SPAN><SPAN>&nbsp;has his own approach to reaching and maintaining profitability:&nbsp;<EM>“Predict, Prepare and Produce is my motto,”</EM>&nbsp;he explains.&nbsp;<EM>“</EM></SPAN><EM><SPAN>An important fact for my businesses was getting my numbers in line from the get-go. I feel the main reason small businesses fail is poor management of the numbers. Know where your break-even point is, and go from there!”</SPAN></EM></P> <P>&nbsp;</P> <P><STRONG>The takeaway?<SPAN>&nbsp;</SPAN></STRONG><SPAN>Whether you surf the Internet, crunch the numbers or simply talk to others in the industry, it pays (literally) to be informed about and aware of comparable market rates. After all, if you’re confident you’re pricing structure is fair and reasonable, chances are, your clients will be, too.</SPAN></P> <P>&nbsp;</P> <OL start="3"> <LI><FONT size="4"><STRONG>Consider flexible pricing plans</STRONG></FONT></LI> </OL> <P><SPAN>If you’re trying to decide whether hourly or “value” pricing is best for your biz, how about offering both? Many of our community members are as flexible as a pretzel when it comes to pricing. Consider this insight from&nbsp;</SPAN><SPAN>Paul Edward Montador</SPAN><SPAN>, an American baker in Illinois&nbsp;who’s on a mission to make the world’s greatest shortbread.&nbsp;<EM>“I use both [hourly and value pricing]. We charge per item (or by the case) for our product. If I’m teaching classes or working as contract caterer, then it’s by the hour. But it’s all agreed upfront, so there are no surprises at the end when presented with an invoice.”</EM></SPAN></P> <P>&nbsp;</P> <P><SPAN>For Michigan, USA-based investor&nbsp;</SPAN><SPAN>Lori Sullivan</SPAN><SPAN>, flexible-pricing makes good business sense. She suggests using &nbsp;<EM>“a combination … with an early valued price for a mini service that can be followed up with an increased hourly rate once [clients] see your value.”</EM></SPAN></P> <P>&nbsp;</P> <P><SPAN>Of course, not all products or services warrant flexible pricing. For labour intensive products like&nbsp;</SPAN><SPAN>Cyndi Veres Gibson’s</SPAN><SPAN>&nbsp;one-of-a-kind, handmade embroidery items,&nbsp;<EM>“value pricing or piece pricing is the easiest way to go. There is so much to consider that hourly pricing would prohibit sales.”</EM>&nbsp;In Seattle, US brand strategist&nbsp;</SPAN><SPAN>Scott Michelson</SPAN><SPAN>&nbsp;sticks with an hourly rate based on how long he thinks a project will take.</SPAN></P> <P>&nbsp;</P> <P><EM><SPAN>“I provide a range to make sure I’ve covered myself on any potential issues. If the client wants a direction change, I put in a change order to cover those costs.”</SPAN></EM></P> <P>&nbsp;</P> <P><FONT size="4"><STRONG>The takeaway?</STRONG></FONT><SPAN>&nbsp;Consider channelling your inner yogi when it comes to setting a pricing structure. In some cases, flexible pricing can help you make a sale or win a new client, thereby securing future business. If a stricter approach to pricing makes sense, that’s okay, too. The bottom line? Set prices that support&nbsp;</SPAN><I><SPAN>your</SPAN></I><SPAN>&nbsp;bottom line.</SPAN></P> <P>&nbsp;</P> <OL start="4"> <LI><FONT size="4"><STRONG>Offer discounts and incentives – prudently</STRONG></FONT></LI> </OL> <P><SPAN>Just as a worm wriggling on the end of a hook may entice a circling fish to bite, offering a discount or incentive may help lure prospective customers or clients to “bite” when it comes to your products or services. If you’re a fledgeling business owner, giving a one-time discount or introductory package deal may secure a new client or customer and, as a result, help you build your portfolio, boost sales and earn a rave review to share on your website and other marketing materials.</SPAN></P> <P>&nbsp;</P> <P><SPAN>Michael Koral</SPAN><SPAN>, a Canadian entrepreneur and co-founder of&nbsp;</SPAN><A href="http://www.needls.com/" target="_blank" rel="nofollow noopener noreferrer"><SPAN>Needls.com</SPAN></A><SPAN>, puts his own spin on this “lure ‘em in” strategy:&nbsp;<EM>“People who visit our website will see a live chat box, and they receive $50 in free advertising for simply saying hello. It prompts a dialogue between us&nbsp;</EM></SPAN><EM><SPAN>and</SPAN></EM><SPAN><EM>&nbsp;gives them more advertising budget to work this. That tactic has helped us quite a bit.”</EM>&nbsp;</SPAN></P> <P>&nbsp;</P> <P><SPAN>On the other hand, it’s definitely not a good business decision to give away goods or services if it doesn’t benefit you in the long run. For example, while it’s tempting to offer a discount to friends and family, sometimes too much generosity can backfire. That’s what happened to&nbsp;</SPAN><SPAN>Sonia Freer</SPAN><SPAN>, a driving educator from Australia.&nbsp;<EM>“</EM></SPAN><SPAN><EM>My challenge was pricing too low for 'mates’ rates' and leaving myself too short, barely covering my expenses and having nothing left to pay myself. I was working another two jobs to get by.”</EM>&nbsp;Fortunately, Sonia changed her ways – and her rates. She says,&nbsp;</SPAN><EM><SPAN>“I have started pricing correctly now and adding heaps of value so that my potential customers don't quibble on my prices!”</SPAN></EM></P> <P>&nbsp;</P> <P><FONT size="4"><STRONG>The takeaway?</STRONG></FONT><SPAN>&nbsp;Sometimes it really pays to “give a little to get a little.” If incentive pricing helps you close a deal, go forth and discount – as long as you’re sure it’s a smart decision for the long-term.</SPAN></P> <P>&nbsp;</P> <P><SPAN>We hope this roundup of insights, tips and strategies help you feel confident and informed about charging just the right rate for your offerings. On that note, we’ll leave you with a few more words of wisdom from another member of our community.&nbsp;</SPAN><SPAN>Michael Merritt</SPAN><SPAN>, a virtual assistant in London, shares this important reminder:</SPAN></P> <P>&nbsp;</P> <P><EM><SPAN>“When [people] see the value or understand the benefit of your product or service, not only do they seldom complain about the price being too high, they often walk away happy to have gotten it at the price the paid – and will even, on occasion, feel like they are taking advantage of you for having paid so little!”</SPAN></EM></P> <P>&nbsp;</P> <P><SPAN>Thanks, Michael. We couldn’t have said it better ourselves!</SPAN></P> <P>&nbsp;</P> <P><FONT size="5"><STRONG>Before you go</STRONG></FONT></P> <P><STRONG>How do you charge for your services? Do you charge what you're worth? Or do you think you should raise your pricing? Share you experiences below!</STRONG></P> <P>&nbsp;</P>
</description>
<pubDate>Mon, 03 Sep 2018 11:08:59 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/pricing-101-four-strategies-to-help-you-charge-what-you-re-worth/01/155144#M5
</guid>
<dc:creator>QBCommunityUK</dc:creator>
<dc:date>2018-09-03T11:08:59Z</dc:date>
</item>
<item>
<title>Invoice Like a Pro and Get Paid</title>
<link>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/invoice-like-a-pro-and-get-paid/01/155140#M4
</link>
<description>
<P><span class="lia-inline-image-display-wrapper lia-image-align-center" style="width: 860px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/4143i50A3DE80208191CF/image-size/large?v=1.0&amp;px=999" alt="Stocksy_Mighty Invoice-1.jpg" title="Stocksy_Mighty Invoice-1.jpg" /></span></P> <P>&nbsp;</P> <P>Here’s <STRONG>1</STRONG> thing just about all small business owners have in common: the need to send invoices. Whether you sell handmade products or offer targeted client services, invoices are key to keeping your business afloat. Problem is, plenty of us don’t realise—or leverage—the true power of this all-important tool.</P> <P>&nbsp;</P> <P><STRONG>Make it personal</STRONG></P> <P>These days, information-overload is ubiquitous. No wonder it’s easy to overlook or ignore a standard grey email or a dull printed page. A personalised, thoughtfully designed invoice stands out in a cluttered inbox or an ever-growing pile of papers. So how do you get your invoice to attract more attention?</P> <P>&nbsp;</P> <P><STRONG>Name drop.</STRONG> Just as using someone’s name in conversation keeps people focused on what you’re saying, personalising your invoice helps it get noticed. Include these 4 names on every invoice:</P> <P>&nbsp;</P> <UL> <LI>The company you’re billing</LI> <LI>The person processing the invoice</LI> <LI>Your manager or point of contact</LI> <LI>Your company or yourself</LI> </UL> <P>&nbsp;</P> <P>Include a personal message. A comment box is a perfect place to put a friendly but professional message to your client. Some ideas for filling in the comment box:</P> <P>&nbsp;</P> <UL> <LI>Thank you!</LI> <LI>My favourite aspect of this project was…</LI> <LI>I thought you might enjoy this link to… (<EM>information related to the topic or industry</EM>)</LI> <LI>Here’s the contact info for a professional I think you’d enjoy working with…</LI> <LI>I’d love the opportunity to work together again in the future.</LI> </UL> <P>&nbsp;</P> <P>&nbsp;</P> <P><A href="https://qbcommunity.com/plugins/common/feature/saml/doauth/post?referer=https%3A%2F%2Fqbcommunity.com%2F&amp;cid=soc_qbcommunity_test_us_qbcom-sig_CTAtop_link_050919-063018_community" target="_blank"><IMG src="https://farm1.staticflickr.com/948/27281801857_2b4f30fcb9.jpg" border="0" align="right" /></A></P> <P><STRONG>Make it professional</STRONG></P> <P>You may not have thought about it, but your invoice is your final point of communication with a client. In this context, an invoice is an important tool for brand building, marketing and engagement. So it pays to make sure this document reflects your professional, organised, detail-oriented approach to work. Here are 3 things to keep in mind:</P> <P>&nbsp;</P> <UL> <LI><STRONG>Design matters</STRONG><STRONG>.</STRONG> A well-laid out invoice is straightforward, easy to read and enjoyable to look at (no matter how big your bill). When it also showcases your logo and reinforces your brand presence, your invoice keeps your business top of mind—so you’re already a step ahead of the competition.</LI> </UL> <P>&nbsp;</P> <UL> <LI><STRONG>Readability matters</STRONG><STRONG>.</STRONG> When it comes to choosing fonts and colours, make sure yours are easy to read. Yellow is dandy for daffodils, and swirly scripts are sweet in a love letter—but keep them out your hard-working invoice.</LI> </UL> <P>&nbsp;</P> <UL> <LI><STRONG>Mistakes matter</STRONG><STRONG>.</STRONG> Typos, misspellings and other seemingly small mistakes indicate sloppiness, not professionalism. Check your invoice before you send it and catch those not-so-insignificant errors.</LI> </UL> <P>&nbsp;&nbsp;<STRONG>&nbsp;</STRONG></P> <P><STRONG>Make it work</STRONG></P> <P>Now that we’ve covered some invoicing fundamentals, let’s talk about what you need to do to leverage an invoice’s full power. Here are our top tips for getting the most out of every invoice:</P> <P>&nbsp;</P> <UL> <LI><STRONG>Invoice on time, every time</STRONG>. When you bill consistently every week, month or otherwise, you subtly, yet effectively, remind your customers that you expect prompt regular payment.</LI> </UL> <UL> <LI><STRONG>Avoid ambiguity</STRONG>. The way you organise your invoice should be as consistent as your billing schedule. If a client is confused about the total bill or when payment is due, you’re more likely to go unpaid.</LI> </UL> <UL> <LI><STRONG>Set clear expectations</STRONG>. Late payments are a hassle at best. At worst, they can leave you in a financial bind. Best bet? Negotiate all terms, including fees for overdue payment, up front.</LI> </UL> <UL> <LI><STRONG>Reward early payments</STRONG>. If your client is eager to pay ahead of schedule, consider offering a meaningful discount to incentivise this behaviour. (On a related note, your late-payment penalty should also be significant enough to inspire a change of behaviour).</LI> </UL> <UL> <LI><STRONG>Simplify payment processing</STRONG>. Paypal, iZettle and Apple Pay are just three of countless money management platforms that streamline payment with just a click, tap or swipe.</LI> </UL> <UL> <LI><STRONG>Automate (almost) everything</STRONG>. Every aspect of invoicing is easier, faster and more consistent when you have an automated system. You can get a lot of insight around billing patterns and practices and client behaviour, which means you can adjust your billing strategy easily.</LI> </UL> <P>&nbsp;</P> <P>Invoices are a critical communication device that can help you get paid on time, every time. An effective invoice builds your brand, strengthens client relationships and keeps you at the top of the list whenever your customer needs help. So it literally pays to get your invoicing strategy right.</P> <P>&nbsp;</P> <P><FONT size="3">Want to learn even more about effective invoicing? Here's a&nbsp;helpful post:</FONT></P> <P><FONT size="3"><A href="https://qbcommunity.com/t5/Getting-paid/Boost-Your-Cash-Flow-In-3-Simple-Steps/m-p/155134#M3" target="_blank">Boost Your Cash Flow in 3 Simple Steps</A></FONT></P> <P>&nbsp;</P> <P><STRONG><FONT size="3">Before you go</FONT></STRONG></P> <P><STRONG><FONT size="3">QB Community members, when it comes to asking for (and receiving) payment, what’s your biggest frustration? Comment below and let's share our experiences!&nbsp;</FONT></STRONG></P> <P>&nbsp;</P> <P><FONT size="3"><span class="lia-inline-image-display-wrapper lia-image-align-left" style="width: 197px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/5515i20AFFC7F7BEAA6C4/image-size/large?v=1.0&amp;px=999" alt="small.jpeg" title="small.jpeg" /></span></FONT></P> <P>&nbsp;</P> <P>&nbsp;</P> <P><STRONG><FONT size="4">Want to join the conversation but not yet a QB Community member? Click <A href="https://qbcommunity.com/plugins/common/feature/saml/doauth/post?referer=https%3A%2F%2Fqbcommunity.com%2F&amp;cid=soc_qbcommunity_test_us_qbcom-sig_CTAbottom_link_050918-063018_community" target="_blank">HERE</A> to sign up in a flash!</FONT></STRONG></P> <P>&nbsp;</P>
</description>
<pubDate>Tue, 19 Jun 2018 17:18:04 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/invoice-like-a-pro-and-get-paid/01/155140#M4
</guid>
<dc:creator>QBCommunityUK</dc:creator>
<dc:date>2018-06-19T17:18:04Z</dc:date>
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<item>
<title>Boost Your Cash Flow In 3 Simple Steps</title>
<link>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/boost-your-cash-flow-in-3-simple-steps/01/155134#M3
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<description>
<P>&nbsp;</P> <P><span class="lia-inline-image-display-wrapper lia-image-align-center" style="width: 580px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/5663iFE86293D6004F6AC/image-size/large?v=1.0&amp;px=999" alt="post_content_Stocksy_txp6e1ff197s57000_Small_44194.jpg" title="post_content_Stocksy_txp6e1ff197s57000_Small_44194.jpg" /></span></P> <P>&nbsp;</P> <P>We love sharing financial advice from Dawn Fotopulos, author of <A href="https://www.amazon.co.uk/Accounting-Numberphobic-Survival-Business-Owners/dp/0814434320/ref=sr_1_1?ie=UTF8&amp;qid=1524648838&amp;sr=8-1&amp;keywords=accounting+for+the+numberphobic&amp;dpID=51UkaZ0FOZL&amp;preST=_SY291_BO1,204,203,200_QL40_&amp;dpsrc=srch" target="_blank">Accounting for the Numberphobic: A Survival Guide for Small Business Owners</A>. With more than 20 years’ experience helping small business owners thrive, Dawn loves educating entrepreneurs about all money matters. In this article, we turn to Dawn to learn how to boost cash flow in 3 simple steps.</P> <P><A href="https://qbcommunity.com/plugins/common/feature/saml/doauth/post?referer=https%3A%2F%2Fqbcommunity.com%2F&amp;cid=soc_qbcommunity_test_us_qbcom-sig_CTAtop_link_050919-063018_community" target="_blank"><IMG src="https://farm1.staticflickr.com/948/27281801857_2b4f30fcb9.jpg" border="0" align="right" /></A></P> <P>&nbsp;</P> <P>&nbsp;</P> <P><STRONG>Step 1: Invoice, invoice, invoice</STRONG>&nbsp;</P> <P>Dawn can’t say enough about the power of an invoice. If you need to boost your cash flow fast, one of the easiest things you can do is send out an invoice <EM>right now</EM>. Here are some important tips about getting the most out of this money-generating tool.</P> <P>&nbsp;</P> <UL> <LI><STRONG>Send invoices promptly</STRONG>. “Don’t let the sun go down without invoicing a client if it’s time”, Dawn advises. If getting paid isn’t your priority, it won’t be your customer’s, either. Sometimes people genuinely forget when their payment is due, so don’t just assume they know what you’re owed.</LI> </UL> <UL> <LI><STRONG>Negotiate terms up front</STRONG>. Explain all your terms and conditions <EM>before</EM> you send the first invoice. For example, if you expect payment “net 30” (within 30 days of the client receiving the invoice), then a payment is overdue on day 31. If you charge a late fee, make sure your customers are aware of the penalty. Just as important? Make a commitment to charging the additional fee, if and when it’s needed.</LI> </UL> <UL> <LI><STRONG>Get empowered by your invoice.</STRONG> Yes, you read that right. Some new business owners confess sending an invoice the day it’s due makes them feel like they’re begging for money. Think again. Dawn reminds us that “when you do work for someone, you deserve to get paid for it”.&nbsp;&nbsp;</LI> </UL> <UL> <LI><STRONG>Don’t go unpaid. </STRONG>The longer someone owes you money the less likely it is you’ll get paid. So send that overdue invoice now!</LI> </UL> <P>&nbsp;</P> <P><STRONG>Step 2: Keep it simple </STRONG>&nbsp;</P> <P>When you make it really, really easy for clients to pay you, it’s a lot more likely they will. In this case, “easy” means a couple different things.</P> <P>&nbsp;</P> <UL> <LI><STRONG>Set up a simple payment plan</STRONG>. If you’re working on a long-term, ongoing or multi-phase project, sending one invoice for a huge sum at the end of a project could cause the customer to choke (literally and figuratively). Instead, plan to invoice for smaller amounts at key interim stages—just make sure everyone has agreed to this ahead of time.</LI> </UL> <UL> <LI><STRONG>Set up a simple payment system</STRONG>. Whatever billing and payment system you use—QuickBooks, PayPal, Paym or one of the countless others—make sure it’s as simple for the customer to use as it is for you. In this age of high-tech everything, no one should struggle with a cumbersome or confusing way to request, send or receive money.</LI> </UL> <P>&nbsp;</P> <P><STRONG>Step 3: Make a new friend</STRONG></P> <P>Not just any friend, mind you: Dawn wants you to get friendly with your clients’ accounts payable officer. After all, this person is the key to your cash flow. “I make a point to get to know these people on a first-name basis”, she explains. “I genuinely appreciate it when someone in accounts payable processes my bill, and I always send a thank you note.” When you pay your respects to the accounts payable officers, chances are they’ll make paying your invoice a priority.</P> <P>&nbsp;</P> <P><STRONG>Ask the expert</STRONG>&nbsp;</P> <P>Here, Dawn weighs in on questions and concerns about cash flow from small business owners like you.</P> <P>&nbsp;</P> <P><STRONG><EM>Q</EM></STRONG><EM>: I’m getting better and better-collecting payment, but my company still has trouble getting paid, no matter how big or small the customer. Would you recommend we get a pre-authorised credit card number, just like at a hotel when you make a reservation?</EM></P> <P>&nbsp;</P> <P><STRONG><EM>A</EM></STRONG><EM><STRONG>:</STRONG> The credit card solution might work. You'll get the cash sooner, and this approach gives customers some time-float. You have nothing to lose by asking. Also, don’t forget to invoice more frequently in smaller increments. That might make it easier for the client to pay your bills faster. </EM></P> <P>&nbsp;</P> <P><STRONG><EM>Q</EM></STRONG><EM>: Should I be looking at my books based on available cash or based on accrual? &nbsp;</EM></P> <P>&nbsp;</P> <P><STRONG><EM>A</EM></STRONG><EM>: If you want a true view of what's really going on in your business, use the accrual method of accounting. That reveals what you owe others but haven't paid yet. It's important you know this. The cash in the bank does not give you a clear picture of how much cash you actually have if, for example, you owe subcontractors a tonne of money. </EM></P> <P>&nbsp;</P> <P><EM>I had 1 client who thought she had 18 months of operating capital. We looked at her books on an accrual basis and found she had less than 60 days’ cash on hand. Learn from her mistake! When you owe £360,000 to developers and are accounting on a cash basis, you're blind to liabilities. </EM></P> <P>&nbsp;</P> <P><EM><STRONG>Q</STRONG>: </EM><EM>I’m in my fourth year of business. I suspect that in my first 5 years, I’ll probably have a lot more expenses than I will later on. Right now, cash flow is still tight. Is that typical?</EM></P> <P><EM>&nbsp;</EM></P> <P><STRONG><EM>A</EM></STRONG><EM>: Yes, this scenario is typical. In my 17 years of coaching, I’ve seen so many small businesses expand their expenses way too fast. In the first 3 years of operation, you need to squeeze every pound you have.</EM></P> <P>&nbsp;</P> <P><STRONG><EM>Q</EM></STRONG><EM>: I invoice once a month, at the start of the month, billing for the previous month. Since I track time, it's a pain to get from my time tracker (Toggl) into QuickBooks, so I batch it together. How does that sound?</EM></P> <P><EM>&nbsp;</EM></P> <P><EM><STRONG>A</STRONG>: It sounds fantastic and it shows great resolve. Invoice automation is incredibly helpful—and it keeps us honest!</EM></P> <P><EM>&nbsp;</EM></P> <P><SPAN>Want to read more about why your money matters? Have a browse through the articles below... From Dawn and other QB Community experts:</SPAN></P> <P>&nbsp;</P> <UL> <LI><A href="https://qbcommunity.com/t5/Managing-your-money/How-to-Track-Your-Cash-and-Keep-It-Flowing/m-p/155186#M3" target="_blank">How to Track Your Cash and Keep It Flowing</A></LI> <LI><A href="https://qbcommunity.com/t5/Managing-your-money/Grow-Your-Business-By-Sorting-Out-Your-Balance-Sheet/m-p/155189#M4" target="_blank">Grow Your Business By Sorting Out Your Balance Sheet</A></LI> <LI><SPAN><A href="https://qbcommunity.com/t5/Managing-your-money/Let-s-Do-the-Math-Your-Target-Number/m-p/155192#M5" target="_blank">Let’s Do the Math: Know Your Target Number</A></SPAN></LI> </UL> <P>&nbsp;</P> <P><SPAN><span class="lia-inline-image-display-wrapper lia-image-align-left" style="width: 197px;"><img src="https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/5666i4D9C407B36C4A142/image-size/large?v=1.0&amp;px=999" alt="small.jpeg" title="small.jpeg" /></span></SPAN></P> <P>&nbsp;</P> <P>&nbsp;</P> <P><STRONG>Want to join the conversation?&nbsp;Click <A href="https://qbcommunity.com/plugins/common/feature/saml/doauth/post?referer=https%3A%2F%2Fqbcommunity.com%2F&amp;cid=soc_qbcommunity_test_us_qbcom-sig_CTAbottom_link_050918-063018_community" target="_blank">HERE</A> to sign up in a flash!</STRONG></P>
</description>
<pubDate>Tue, 19 Jun 2018 17:17:29 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-uk/getting-paid/boost-your-cash-flow-in-3-simple-steps/01/155134#M3
</guid>
<dc:creator>QBCommunityUK</dc:creator>
<dc:date>2018-06-19T17:17:29Z</dc:date>
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