Chances are, anyone who has ever earned a living as a freelancer or contract worker understands all too well that invoices sometimes go unpaid. Even when clients do pay their bills, they often do so late, potentially leaving you and others who earn their living in this manner in the lurch. While not having your invoices paid on time makes it difficult to budget, there are certain steps to consider taking to increase the chances of having your invoices paid promptly.
According to Forbes, one thing you might want to do to increase your chances of receiving payments on time is make paying your invoices as simple and seamless to pay as possible. Many people choose to use online invoicing software, some of which has features that allow clients to pay their bills instantly on their phones or computers. If you have, until now, used paper invoices, simply switching to electronic versions could shave several days off of your turn-around times.
You may, too, find that you have an easier time collecting what clients owe you when both parties sign a contract from the outset. If you have a clear contract that requires your client to pay all invoices within, say, 30 days, it is going to be harder for that client to defend him or herself after falling behind. Having a contract in place also gives you a stronger argument, should you find yourself involved in litigation.
In the event that none of these methods seem to work, you may want to simply stop performing work for the non-paying client until you receive everything owed to you. Many freelancers and contractors consider this a last resort, but if you have a client who consistently ignores your payment terms, it may prove necessary. Find more about business litigation on our webpage.