Good cash flow is vital for any business, but if business is brisk for you at this time of year then it’s important to make sure the proceeds of your sales are brought in quickly.

We’ve collated our top 5 tips to help you to accelerate your business income:

1. Make sure your payment options and terms are stated clearly on your invoices and statements. 

To help your customers to pay quickly you need to give them payment options and a time frame. In Sage Accounts it’s easy to customise the documents you issue to your customers. Find out how to edit them now.

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2. Have you looked at electronic payment options?

The world of payments is changing, can your customers pay you online, electronically or can you take card payments over the phone? A solution like Sage Pay may be the payment option you’re looking for. Read more >>

3. Invoice early

You’ve made the sale, but how quickly are you issuing your invoices? Make sure you follow up your sale immediately to minimise the delay before a payment is received. Are you invoicing by email to save time and money?

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4. Send statements and reminders

Payments outstanding? Make sure you chase them up, reminder letters and customer statements can help you to bring in outstanding payments. There are lots of options for prompting customers for payment in the Sage Accounts Help Centre. Read more >>

5. Discounts for prompt payment

Offering a discount for prompt payment can always help when it comes to getting the money into your bank account. Prompt payment discounts can be handled simply in Sage Accounts. Find out how to configure settlement discount and add it to your invoices in Sage Accounts. Read more >>

What about you?

Do you have any early festive gifts you could share with Community members on improving Christmas cash flow? We'd love to learn more about them in the comments below.