August 2, 2021Invoicing , Late Payments
A powerful addition to your collections toolkit is having a demand letter. This comes into play when you have tried everything to receive a payment from your customer/s. A letter of demand, also known as a dunning letter or debt collection letter, helps your B2B customers know that there are consequences for paying you late. …
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The Best Way to Reconcile Invoices Reconciling your customers invoices is an important step in your accounting process. Not paying proper attention to this can not only cost your business revenue, but also affect the relationship of those you do business with. Shockingly, a large number of small businesses and SMEs skip this step. Whether …
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May 11, 2021Invoicing
5 steps to improve your accounts receivable process Running a business means constantly shifting focus – you’re so busy in the day-to-day, that it can be hard to keep track of all the moving parts. Pencil, on the other hand, is in a unique position. We have a birds eye view of the businesses we …
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January 13, 2020Invoicing , Late Payments
5 ways for freelancers to get their invoices paid on time Managing your cash flow as a freelancer can be a difficult task. When clients are late with payments and invoices are ignored this can really have a negative impact on your lifestyle and stress levels. Freelancers are constantly having trouble collecting payments from their …
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September 23, 2019Invoicing
8 common invoicing mistakes you need to avoid Sending invoices to your customers is obviously a very important step in receiving payment. But you would be surprised to learn that many business owners have a poorly constructed invoicing system and mistakes are made constantly. These small invoicing mistakes can lead to larger problems for your business, such as dealing …
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