At Lima Accountancy, we keep on top of all our payments and make sure the process is as efficient as possible for all parties involved. Here are our top tips to help you do the same.

Make sure you’re familiar with the customer

You may think running a credit check on a new customer could be a bit sneaky, but it could save you vital time. If you have any qualms about whether your new customer will have problems making payments or being awkward in any way, it doesn’t take long to check online to see if they have had previous problems paying invoices.

Have the payment terms as clear as possible

Include each single payment term on every invoice you send out, so you make it clear to customers that these need to be followed consistently. Make sure you include everything as clear as possible, such as key information like timeframes and associated costs.

Choose the right people for your team

Good customer service is key to any business, if the people in your credit control team are prepared and polite, it will stand you in good stead and will mean they are equipped for any tasks in the future.

Don’t hesitate to chase straight away

If a payment was due one day and it doesn’t get payed the next, chase it straight away. Don’t waste any time in hesitating whether to contact the customer as the longer you wait, the worse the situation will get and the longer you will be chasing payment.

Don’t supply the customer if they aren’t paying

Though this can be easier said than done, do stop supplying the customer as soon as they aren’t paying you. They aren’t paying for your services, so you should cut your supply to give you the leverage you need to finalise payment.

Feel free to get in touch with us directly by either calling 0113 844 0402 or emailing: enquiries@limaaccountancy.co.uk today.