What you need is a quick turnaround in your money
I would like to make a point about the increasing delay in receiving invoices for work done by suppliers.
I often find that it takes about 14 working days from the date the invoice is raised to the time it hits my desk. The invoice has to be then processed and then paid within 7 days. That means there is a delay of about 21 working days from the time the job has been done until it is paid.
This doesn't just happen on the odd occasion but quite often. I have even had statements come out seven days after the end of the month with invoices attached.
Time is money and will result in a loss of profits.For Example If you don't get paid then you can't buy materials for your next job.
Now my advice is as soon as the job is completed, the invoice should be raised before you sit down and pour yourself a glass of wine and kick your off boots. The job is not completed until the invoice is in the mail.
The sequence of events should be :-
1/. Job completed or supplies delivered.
2/. Invoice raised and posted before close of business on the day the job was completed.
3/. Chase up unpaid invoices every Monday morning.
4/. and Pay your suppliers ASAP.
