One of the most important parts of running a profitable business is making sure that you get paid. After all, you can do the best work in the world and still go under if you never collect what is owed to you. The first step toward getting paid is getting organized. Using a project management app can streamline your workflow and help you run your business efficiently, from estimating costs to invoicing and tracking income and expenses.
Customer Data and Estimate Tracking
Having a system in place to track estimates gives you a head start in organizing your customer database. If you keep good records of estimates and quotes you send out, you will always be able to see at a glance whom to follow up with, what project he or she is interested in and what price you quoted to complete the work. This not only helps you maintain a professional appearance but also keeps you from having to repeat discussions and start estimates over from scratch.
Organized Invoices
Being consistent and organized with your invoicing helps you get paid on time and enables you to estimate your cash flow from month to month. When you use a complete project management software package that includes free invoice templates, it’s easy to keep your accounts payable documentation looking polished while integrating your customer database to save you time.
Options for Your Clients
Giving your clients multiple ways to make payments may help you get paid faster. When you use an invoicing system that includes a secure credit card payment option, some of your customers may be more likely to pay the invoice right then and there. For those who prefer to pay by check or money order, be sure to include a mailing address and remittance slip with your invoice. Another good thing to include is a reminder of the terms that were agreed upon, such as 30 days, 60 days, 90 days or in advance.
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