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Get to grips with budgets by A & C Black Publishers

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6 Being paid on time

We all know how frustrating it is when we don’t receive payment that we’re owed. In business, though, the amounts of money involved are probably much larger than those we deal with in everyday life, and as a result, so are the related problems. Whether you run your own company or you work for someone else’s, late payments can throw your cash flow into all types of disarray and can cause significant problems. To keep on top of things, you need to make sure that you’re issuing invoices properly and chasing late payers.

Basically, when your business supplies goods or services to its customers, you need to record these transactions formally with an invoice. This document becomes particularly important when you let your customers ...

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