19 Apr Client Billing Policy
Establishing a solid client billing policy is the first step to collecting your fees in a timely manner. This is the cash you’ll need to pay your bills, and yourself, for work you have already completed.
A policy does not have to be elaborate but it does need to be followed on a consistent basis.
Here is our basic list for you to use as a starting off point to create your client billing policy. Implementing policy on the following will have a significant impact on your cash:
- The date you generate your bills. This is the single most important point and the hardest to adhere to. You have a couple options:
- Once a month, on the 10th of the month
- Bi- monthly , bills are sent out on the 5th and the 20th of each month
- Clearly state your payment terms, including a due date, on each bill
- If the bill is not paid by the due date, mail a reminder statement telling the client they have an overdue bill.
Be concise. Be consistent.