Cash Flow- Invoices

Cash flow is  very critical to the financial health of any business. Make sure you collect payments from your clients promptly.

• Your invoices to client should be simple and easy to understand.
• Call them right after you send out the invoices to make sure they have received it.  
• You should start charging a late fee if you don't receieve the payment within  7 days, 2 weeks or 30 days after sending out the invoices. The amount of late fee should be stipulated on your original contract. 
• You should charge a fee for all returned checks.
• All work should stop until clients are current with their payments.
• Put a lien on your client's project if he/she still refuse to pay.