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Unpaid invoice letter for Quality Assurance

hi everybody my name is Sarah and welcome to my channel of decode your numbers this week we're going to be talking about sales outstanding sales invoices now do you have any outstanding sales of I hope not but if you do the longer you leave it the less likely that invoice is going to get paid because it's going to be harder and harder for you to chase that invoice now if they don't get paid that means you have worked for free and no one wants to work for free you do not deserve to be working for free you have putting your hard-earned knowledge and work into that job so therefore you deserve that money so let's get those invoices paid and give a cash flow a healthy boost ready to pay for any of those um entertaining expenses for this festive season so here's what we're going to do step one I want you to go into your accounting software if you've got it go into the sales section and there'll probably be a list of all your invoices and I want you to sort it out by the ones that are still open and outstanding now review each of those and put the ones that are really overdue at the top and make your way down I want you to chase all the invoices that are like overdue to like do in a couple of days time because I want you to get paid before Christmas hopefully okay now if you haven't got software I want you to uh make a list of all the invoices you sent out I'm sure you've got them all saved somewhere on your system and make a list of all the ones that haven't been paid yet okay now step two we're going to send a friendly little NCH what happens most people just tend to forget to pay the invoices sadly because life gets in the way you know everyone is busy running around running their own businesses or running around the family and stuff and it just gets simply forgotten so you just need to give them a little friendly nudge now with each invoice in the software you can probably send a email reminder and I want you to press that button if you have not got software I want you to set up an email and attach a PDF of that invoice just in case they've lost it so if you are using software make sure you got the setting that it attaches the invoice to the email because sometimes people just for ease of use get people can find that invoice and can refer to it now I want the email to say something on these lines okay go hi just a quick reminder to say that invoice is due on whatever date that is uh please can you make a payment as soon as possible you have any issues let me know have a great festive season take care this will be enough for most people if they still haven't paid in like in a couple of days time send them another little nudge and hopefully that will do it if it starts getting a bit more serious you're going to have to go have a bit more of a Stern um chat with the client particularly if it's a client that you do work continuously maybe it's worth saying I will not do any more work until these invoices are paid and that usually does the trick but that is a very much a last resort so step three what I want you to do if you have any um clients that are consistently paying late and they will not pay unless you chase them then maybe it's time for you to review your terms and your systems are getting the payments done so when I say about your terms I mean most people um have a term of pay in 30 days uh or 60 days why don't reduce those terms to say pay within 15 days and that gives you um a quicker time to start chasing for those invoices and when I say systems I'm think thinking about why don't you ask if possible with the type of work you do a deposit UPF front so at least then you've got of the payment UPF front and You' being paid for part of the job so something does happen and for some reason they're unable to pay at all at least you've got some of the payment it hav work for free uh another thing is maybe um if you're using software add link it to a card payment provider like PayPal or stripe um if you have invoices that you consistently uh send out consistently every month the same amount why don't you set that up as a reoccurring invoice in your software then also link to a direct debit scheme like go cardless who will automatically get those payments for you and therefore you know your cash flow is going to be consistent and you're not having to chase for those invoices all the time so let's get those onp paid invoices out get some Chas out so you can start the new year with a clean slate with a better cash flow and there's no money left on the table if you found this helpful give it a like and a share is someone who thinks who needs to hear this and if you got any questions drop them below and I would love to hear from you take care bye