---
title: GET PROMPT PAYMENTS BY CREATING AN ACCOUNTS RECEIVABLE PROCESS
description: Accounts receivable is about getting paid for the work you do.  In business, it doesn’t get much more important than that. The process covers every part of the payment lifecycle – finding customers, communicating expectations, billing correctly, and following up on late invoices.  6 Simple Tips to Try If you’re struggling with late payments here […]
---

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# [GET PROMPT PAYMENTS BY CREATING AN ACCOUNTS RECEIVABLE PROCESS](https://balanceca.nz/blogs/get-prompt-payments-by-creating-an-accounts-receivable-process)

 Written by [Balance CA](https://balanceca.nz/blogs/author/balance-ca) | Jan 21, 2024 12:09:17 AM

 

 

 

Accounts receivable is about getting paid for the work you do.  In business, it doesn’t get much more important than that. The process covers every part of the payment lifecycle – finding customers, communicating expectations, billing correctly, and following up on late invoices. 

### 6 Simple Tips to Try

If you’re struggling with late payments here are some simple tips to try. 

- **Pick the right clients** - Before you take on new customers, run credit checks and have them sign written terms, including billing timeframes, and late payment penalties.  
- **Quick, effective invoicing** - Your customer can’t pay until you’ve invoiced them, so make sure you send your bill promptly. Sending invoices straight after work is completed, gets the payment ball rolling. 
- **Make it easy for your customers to pay you** - Offer options like debit, credit, or direct debit to make it as easy as possible. Make sure your invoice has all the right information, including your bank account details, a description of the work or product, the date it was delivered, and any customer requirements such as a purchase order number. Some customers have very specific requirements so ask what they need to see on the invoice. Make the due date clear too. 
- **Keep a close eye on your unpaid invoices** - Check for payment frequently. If an unpaid invoice is past its due date, have a process to follow up – this could include email reminders, statements, phone calls and possibly debt collectors. 
- **Talk to your customers** - A friendly phone call allows you to ask when you can expect payment. This may also uncover any issues you need to resolve. 
- **Review your clients** -If you have clients that frequently pay their invoices late, think about changing their terms – they may need to pay half upfront or use another payment method. In some cases, it might make sense to let them go. 

### **Consistency is key** 

Having an accounts receivable plan is the first step – the next is following it, every time! From selecting clients to clear policies, prompt billing and thorough follow-ups, it’s all about consistency. That way, you won’t have unpaid bills and rogue clients slipping through the cracks. 

Ready to create an effective payment process? Our expert accounting team can help. 

[View full post](https://balanceca.nz/blogs/get-prompt-payments-by-creating-an-accounts-receivable-process)

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