2015-09-01 09:19:13 Getting Paid English Studies show that 16% of invoices never get paid. Learn what's wrong with your invoices and what you can do to make sure they get paid on... https://d2yxjugd6jl4bj.cloudfront.net/wp-content/uploads/2015/08/08233013/2015_9_1-small-AM-Whats_Wrong_With_Your_Invoices.jpg INFOGRAPHIC: What’s Wrong With Your Invoices?

Getting Paid On Time

INFOGRAPHIC: What’s Wrong With Your Invoices?

All businesses rely on steady cash flow to keep their company afloat. When that cash becomes stagnant, the company can’t pay its bill or its wages, which will ultimately lead to bankruptcy.

While businesses would prefer to get paid upfront for their products or services, many have to rely on billing clients with invoices that will be paid at a later date. Unfortunately, invoices can sometimes go unpaid, and that leaves a company vulnerable to cash flow issues.

Some invoices remain unpaid simply because the client doesn’t have money, but in many other cases, it’s actually the vendor and its invoicing techniques that are at fault. Be sure to review an invoice example to make sure your invoices contain the right details and information.

Due.com conducted a survey to find out why some invoices get paid while others don’t. The infographic below highlights their findings and offers some tips on how you can improve your invoicing techniques.

The tips highlighted in the infographic can help you set up a contract and get your invoices paid quicker. Combine these techniques with a good invoice template and good management of your accounts receivable, and you should see improvement in your invoice turnaround time, which means you’ll hopefully avoid having to go through the collections process.

For more tips on creating, sending and collecting invoices, see our Complete Guide to Invoicing.

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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.