Now is the time to creatively use invoicing to benefit both you and your customers. Use the year-end as a tool to help you sell more by allowing the customer to bill you according to what fits their fiscal year needs the best.
Cash flow is the life-blood of any business and, in particular, to smaller ones. On the flip-side, managing the budget is everything to a big business. This means a large company that is closing out their fiscal year will often be in a better position to pay the small business this year rather than waiting for 2008. Don’t hesitate to ask your client.
If you’re a small business, make sure that as you employ this strategy, you also take the time to think through what it will do for your current year taxes and how it might change your overall financial picture.
