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Finance Freel

Finance Freel

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Published by kidalive

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Published by: kidalive on Nov 03, 2012
Copyright:Attribution Non-commercial


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So, there you are, the job’s done, the client’s happy, and it’s time to

get paid. So, you send your invoice to the client, and wait for your

payment. And you wait. And wait.

The Joys of Getting Paid Promptly


What went wrong?

The problem might be on the client’s end. She might have forgot-

ten to submit the invoice to her accounting department. Or his

boss may need to approve the expenditure frst. How do you avoid

problems like these?

With communication.

When you frst start working with this client, ask her what you’ll

need to do to get paid. Do you need to complete any forms in

order to become a new vendor in their accounting system? Do you

need to submit an invoice in a certain format? What information

does your invoice need to have on it? Does the organization send

payments by check? If so, when are checks written and sent?

Would they rather pay electronically or by credit card? What do you

need to do to make that happen? If they pay electronically, be pre-

pared to furnish your bank information so that funds can actually

appear in your account. If they’re on a purchasing or procurement

card (p-card) system for credit card payments, you’ll need to be

set up to accept credit cards. And, sorry, PayPal might not suffce.

Many organizations have “no PayPal” policies.

Be advised that your client may not know the answers to all the

questions I’ve posed here. She may need to speak with her boss

or with the accounting department. Or, you might need to make the

call yourself to the organization’s accounting department. Make

that call — your cash fow could depend on it.

And, think of how much more enjoyable this call will be if you’re

not fretting over when your money will come. Be kind to those

accounting department people. Start by getting them on your side

well before you submit your invoice. Even if all their procedures

and requirements seem silly, they are handling the money that

you’re owed.

The Joys of Getting Paid Promptly


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