business management blog

Best Practices for Small Business Payment Processing

Consolidate Invoices

Send one invoice for multiple services or products, rather than multiple invoices for each one. This can reduce the number of transactions and fees.


Track Invoice Due Dates

Keeping track of when each invoice is due and following up with clients if they are late or miss a payment.


Set Payment Reminders

Sending automated reminders to clients before and after the invoice due date, to encourage them to pay on time and avoid late fees or penalties.


Cash Flow Forecasting

Ensure the invoice due date and amount are used when forecasting to assess short-term liquidity requirements. This will help in planning ahead.


Swipe up for more web stories!