Talking Cents

Tips on chasing late payments, by your small business accountant in Melbourne

When you are given the unruly task of having to chase up customers for late payments, it isn’t necessarily the easiest thing to do. You’re trying to ensure a good relationship, while wanting to get your money, which is why our small business accountants in Melbourne have some tips for you.

Here’s how our accountants for small business in Melbourne recommend you chase late payments:

• Always be clear about your payment terms and reiterate them through email to your clients
• Don’t be afraid to follow up with emails
• Avoid cheques as they are easier to bounce back
• Make a courtesy call in order to follow up with your clients
• Be sure to start chasing the debt as quick as possible, this way you are improving your business’ financial documents
• Be flexible with your payment terms
• Never let your problem escalate and if it does, get in contact with a debt collection agency

We hope that our Melbourne small business accountants have offered you some sound advice on getting your hard earned money from customers who don’t pay in time.

If you have any questions, feel free to get in contact with our small business accountants in Melbourne.