http://www.ivy-cpa.com/services/business-consulting/ In our 4th video of the Small Business Tips series, we cover getting paid. You'd think this might be obvious, but you'd be surprised how many small businesses fail to organize their business accounting correctly. These tips are helpful not only to a new business but also one that is struggling to get paid for their services. Ivy Accounting, Tax and Advisory specializes in helping Miami small businesses with full service accounting and tax services. Call us at (786) 363-0233 to arrange a consultation. One of the most important considerations as a small business owner is to make sure you've been paid for the work you've done. If you don't collect on your invoices, your business will simply not survive. Here are 5 tips to getting paid. #1. Start with a clear customer invoice. No matter how responsible and organized your client may be, if your invoice is difficult to understand, unclear or incorrect, you can expect a delay in your payment. #2. Keep your business organized with an aging report. If you or your accountant or bookkeeper can create and maintain an aging report, you'll have an easy way to understand the payment status for each of your clients. Then you can focus on those who are farthest behind or owe you the most money. #3. Don't let past due accounts slide. If a customer is slipping into a past due status,it's important that you act quickly. The longer past due a bill is, the less likely it will be paid. #4. Be strategic and creative in your collections approach. Collections can be handled in a number of ways. Consider your tone and methodology when communicating with clients who owe you money. Sometimes a payment plan will help clients who may have a cash flow problem and are unable to pay all at once. Last but not least: #5 When all else fails, consider getting help. Making a decision to use a collection agency should not be taken lightly. While they can be effective, doing so will essentially void any chances of future business with a particular client. Additionally, the collection agency will take a percentage from each dollar collected. Getting paid is one of the most rewarding parts of running a business. If you are struggling with this, give us a call. We may be able to help. Thanks for watching. For more great tips, visit us online at Ivy-CPA.com