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Dealing with unpaid invoices is the bane of many a small business owner’s life. More than half of SMEs report facing late payments on a regular basis, and the average time it takes for most invoices to get paid is a week more than the agreed terms.

Late payments from gym management have left Ethan unable to pay rent for his training space. He’s had to rely on overdrafts, increasing his financial stress.

Late payments from clients after large events make it hard for Lydia to pay freelance contractors. This has tarnished her reputation and strained relationships with reliable partners.

Supermarkets delaying payments for fresh produce have forced Tommy to delay buying seeds for the next season, jeopardising his harvest.

Priya’s startup depends on regular payments to maintain servers and payroll. Delayed invoices have led to temporary shutdowns, causing a loss of users and investor confidence.

Corporate customers delaying payments by 90 days has made it hard for Ben to buy materials. He’s had to turn down new orders due to lack of cash flow.

Late invoice payments from clients have caused Fatima to take out a short-term business loan, incurring high interest rates and reducing profitability.

This article outlines effective strategies for businesses to recover overdue payments, including best practices for tracking invoices, sending reminders, and escalating collection efforts. It also highlights the benefits of a consistent follow-up process to ensure timely payments and reduce cash flow issues.

Discover how late credit card payments can have a negative impact on your credit score and affect your financial future. And what a good credit score looks like.

Managing overdue invoices is a critical aspect of maintaining healthy cash flow for any UK business. Late payments can disrupt operations and create financial strain, especially for small to medium-sized enterprises. Implementing effective strategies for overdue invoice management helps ensure a steady cash flow and reduces the stress of chasing payments.

Late payments are a common problem for small businesses. While they might seem like a minor issue, they can cause serious problems. When payments are delayed, your cash flow is affected, which can hurt your business’s ability to grow. This blog post will explain how late payments impact cash flow and business growth, and offer… Read More »How Late Payments Affect Cash Flow and Business Growth

If your clients fail to pay on time, you have the right to charge them interest on the unpaid amount. Let this guide show you how to calculate interest.

Late payments can cause a financial strain on your business. This is where late payment interest and compensation come into play.

Our research indicates an uplift of 88% more invoices are paid on time if a 3rd party sends the reminder. Payment Check helps you receive faster payments.

Emma often struggles with clients delaying payments, which leaves her unable to pay for essential software subscriptions. This has resulted in missed deadlines and reputational damage.

A corporate catering client delayed a £5,000 payment, pushing Sophia to use personal savings to pay her suppliers. The delay nearly caused her café to close permanently.

Late payments from international buyers have disrupted his cash flow, causing stock shortages during peak season. This has led to loss of customers and negative reviews online.

Late payments from large contractors force Dave to delay wages for his team. This has led to high staff turnover, adding stress and reducing project efficiency.

Automated reminders are crucial for managing overdue invoices, offering benefits such as improved payment efficiency and reduced manual follow-ups. Discover how these reminders streamline invoicing and enhance cash flow, ensuring timely payments and stronger customer relationships.

It’s embarrassing for me, should be for them but doesn’t seem to be and generally a bit of a shit show.

Late payment interest charges can be a frustrating issue for businesses. Not only can they be a financial burden, but they can also damage relationships.

Are you tired of chasing late payments from clients? Look no further! Our article on simple email templates will help you tackle late payments like a pro.

In this guide, we explore the steps to calculate Interest on unpaid invoices and provide tips for business owners to avoid disputes and maintain cashflow.

All your frequently asked questions and queries on late invoices are answered here. Read about invoice advice, debt collection and interest and fees.

Are you tired of chasing down late payments from clients? Our ultimate guide has got you covered on the true cost of late payments and how to deal with them.

Learn how to master invoicing with our comprehensive guide on understanding time limits for issuing invoices. Be an expert with invoicing and get paid on time!

Learn how to add late fees to your invoices, understand invoice payment terms and ensure timely payments with our comprehensive guide.

Late payments can have a significant impact on your cashflow. Fortunately, there are several strategies to effectively manage overdue invoices.

Explore the importance of timely invoice payments and practical tips to help you streamline your invoicing process for faster payments and business growth.

Discover how GOV.UK is revolutionising the invoicing and payment collection process to enhance user experience to help you manage your business effectively.

Explore when you can refuse to pay an invoice, the legal implications of doing so, and how to communicate with vendors about invoicing issues.

Whether you are facing a dispute with a supplier, customer, or other business, this guide will provide you with a comprehensive overview of your legal options.

Discover the steps you can take to deal with late payments and read the tips and strategies to help you manage this common issue.

Tired of chasing unpaid invoices? Our article on effective commercial debt recovery strategies provides practical tips and advice to help get your money back.

As a business owner, you know that cashflow is crucial to your company. Late invoice payments from customers can disrupt your finances and cashflow.

Learn how to write an effective warning letter for late payment and understand the consequences of non-payment.

Discover how Xero accounting software can help you effectively manage your business’s cashflow and streamline your business operations with automation.

Calculating late invoice interest is straightforward. Read our step-by-step process of how to work out the interest for your overdue invoices here.

The law gives you the right to charge interest at the Bank of England base rate plus 8%. Understand the rate of interest here.

I’m a dev for a mid-size software company. I invoice £8k a month for 15 days of dev. My terms are 30 days. So far they are behind three invoices. £24k! 

Then the email – in mid December (!) that cashflow was tight and they would be making no payments in December but would make payments sometime earlier in January.

Sending an invoice reminder for unpaid invoices is a good practice. Ensuring that your customers know their outstanding payments and encourage them to settle.

In this article, we’ll cover the essential strategies for handling late invoice payments and ensuring smooth cash flow for your business.

Are you struggling to manage past due and outstanding invoices? Learn effective strategies to improve your cashflow and maintain healthy client relationships.

If you find yourself with unpaid invoices, don’t despair! There are several strategies you can apply to do some debt collection and maintain a healthy cashflow.

Cashflow management is a critical part of business, determines how much money is available for operations and is a cause of stress among company owners.

Discover the top strategies that small businesses use to collect unpaid invoices, and understanding the benefits of establishing clear payment terms.

Explore the key strategies and best practices for payment management, mitigating risks, and improving your business’s financial health.

Late payments create cashflow problems but using your legal right to claim interest can encourage customers to pay on time.