Late payments can be a difficult subject to get a handle on. Although the late payment legislation laid out by the government is relatively straightforward, there can still be some confusion about when a payment is specified as being late, how much can be claimed back and what form that compensation would take..
Late payment of invoices can have a severe impact on your business’ cash flow. Take a look at our 5 most common excuses for late payment, and how to resolve them.
Good cash flow management is essential to any business. Our downloadable pdf guide includes advice and practical tips on everything from creating a cash flow forecast to how to chase late payments.
When you are chasing a late payment, it is difficult enough to deal with customers in the UK, let alone those located around the world. Different languages, laws, payment regulations and customs combine to make these situations much harder to resolve..
One of the biggest killers of a business’s time and resources is the chasing of debts, especially when the customer who owes them hasn’t got the means to pay. This is extremely frustrating, especially when you believe that they are willing to pay and capable of doing so.
Getting paid is one of the biggest challenges a small business faces – when the smallest delay can turn a positive cash flow into a negative one, accounts departments have to chase up late invoices as soon as they become late
Although you’d hope it would never come to pass, many limited companies end up becoming insolvent due to incurring amounts of debt that are greater than the sum of their assets. Can their directors be held personally liable for the situation, though?
Taking a person or organisation to court is a serious step, and one that you should only use when you genuinely feel that you have no other choice..
If you’re selling products or services abroad the unexpected EU referendum result, and currency fluctuations that followed, could work to your advantage. Discover how the EU referendum result affects your overseas debts, and how to take advantage.