![]() ![]() Not sure what your charge-out rate should be? Check out our charge-out rate calculator for trade businesses. You can also pre-load (and update) supplier price lists, pricing levels for different customers, and your hourly billing rate, and add these to your invoice using dropdown menus – no more do-overs or double-checking. If you spot an error, you can quickly make adjustments, giving you confidence that you’ve included all of your time and materials. With Tradify’s mobile job management app, you can track jobs, record your timesheets, and allocate costs to a job as you go. “Doing things manually is so time-consuming and draining, that sometimes you just say, ‘screw it’, invoice blind and hope that you’ve allowed for everything." Jonathan Clark from Watts Up Electrical noticed that taking operations online made life much easier and saved him invaluable amounts of time. Our customers notice the impact of better invoicing already. Speak with your bank manager about options in your country.īetter invoicing is done faster, online and with the help of invoicing software. Many banks operate a similar product connected to their business packages. The dongle reads a credit card chip and the simple app allows you to take payments just using your phone. Stripe provides a small dongle that attaches to a smartphone. This may sound like a huge headache, but it's easy with Stripe. This is great, as it means you can literally get cash in the bank on the same day you finish a job. Many people prefer to pay by credit card these days, because it enables them to collect rewards. Alternatively, you could try incentivising early payment by giving a small 'prompt payment' discount. It’s perfectly legal to charge interest on an overdue invoice that accumulates daily after the due date. Charge interest on invoices or incentivise prompt payment A credit report is a very cheap, quick and easy way to get some insight into who you’re dealing with and whether or not they can be trusted to pay on time. One really easy way to reduce the chance of bad debts or late payments is to get a credit report done on any new SME customer you take on board. For example, a down payment must be made electronically, in advance, 7 days from quote acceptance. ![]() It also allows you to set some benchmarks around payment terms. Getting a down payment will make a significant difference to your cash flow. You can ask for a 25-50% down payment on work less than $10,000 in value and between 5%-10% on larger jobs. Not only are down payments becoming the norm but they also help put your customers at ease, as they feel it means their tradesperson is now more likely to show up. Get a downpaymentĪsking for a down payment on a job is perfectly acceptable. If your terms are clear from the start, customers shouldn’t have an issue. According to Xero, close to 75% of invoices now ask for payment within two weeks. The standard 30-day payment period is a thing of the past, with shorter payment terms now the norm. It also helps to be transparent with clients about your processes from the outset. ![]() While it might seem like extra admin (when you’d rather be getting on with the job), encouraging easy and timely payment will save you time and stress in the long run. Set your payment termsįirst, it’s important to make sure you’ve got a process in place and expectations are clear from the outset. When you can see a situation escalating toward a full-on dispute, what should you do? Let's look at how to minimise problems in the first place, how to keep your cool when dealing with unpleasant situations, and what to do when non-payers pop up. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |