One of the reasons for non-payment relates to invoice queries or poor administration. So, it’s essential to get your invoicing right. While the structure of invoices can be industry dependent, there are some general elements that should be followed.
Efficient administration and effective credit management are vital to help you to identify the signs of late payment and bad debt before any problems arise. The key is to take preventative steps from the outset and keep track of what you are owed and what you’ve been paid and then act as soon as possible to keep your cash flow healthy.