![]() ![]() If you have a customer that insists on paying after 90 days, don’t be afraid to negotiate. The smallest businesses wait an average of over two months before their invoices are paid, which can cause major cash flow problems. You can look into what the standard ranges are for your industry, but don’t forget to consider your own cash flow needs. You can decide whether you’re paid instantly, or within a set amount of days or months. Even if you discussed payment terms with your customer, make sure they’re included at the top of your invoices as well. Payment terms refer to the payment agreements you made with your customer, including timing. Pssst: if you’re using Wave to invoice your customers, you may be eligible for Instant Payouts. With instant payouts, your money goes through Visa or Plus enabled card networks, which means you can get paid almost instantly, even if banks are closed. If you have regular payouts, that means you receive money through traditional banking methods. With Wave, you can add your customer’s credit card information, so they’ll get automatically charged and you get paid on time, every time! 4. You can also set up automatic payments with your repeat customers. With Wave, you can send professional payment reminder emails to your customers that automatically get scheduled once you send an invoice. ![]() Set up automatic emails to remind your customers it’s time to pay, or that they have an overdue payment. Oh my god, I added a late fee to an invoice after the like 6th request for updated details and they paid it? I feel like a freelance goddess.- #2 liz J3. ![]() With 4.3 Americans filing the paperwork to open their own business in 2020 (24% more compared to 2019), and the COVID-19 pandemic ushering in a whole host of changes and uncertainty, it’s more important than ever to empower small businesses with the knowledge of how to get paid on time going into 2022.ĭownload the full report below to get all the juicy details, or keep reading for an overview of how to get paid faster and set yourself up for success. These businesses make up 92% of all businesses in the US and, on average, contribute to 38% of their owners’ household incomes. Microbusinesses are small businesses with under 10 employees. With this in mind, we looked at payment data from the Wave invoices of US-based small business owners, and launched Macro Trends in Microbusiness: The Wave Report on Getting Paid 2021 to help you get on the right track when it comes to getting paid on time. PAY YOUR FREELANCERS ON TIME- Jason Okundaye June 21, 2021 It's only a small sum of money and I'm not struggling financially but for a lot of people it's the difference between paying rent or not. I am still chasing an invoice for a piece I wrote in December. ![]()
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