How to Master Getting Paid on Time and Improve Your Business Cash Flow

Let's talk about something that keeps many business owners up at night – getting paid on time! We've all been there, checking our bank accounts and wondering when that overdue payment will finally come through. But here's the good news: those days of awkward payment conversations and constant chasing can be a thing of the past.

Your New Best Friend: Xero Automations

You know what's amazing about running a business in 2025? Technology has our backs! At Ace-XL we use Xero to send out all of our invoices. By reconciling your accounts on a regular basis you’ll know who owes what and when. You can set up auto reminders to go out, chasing those naughty clients that never pay on time! Of course, the importance of this is ensuring that the data is accurate, so you have to be consistent with your bookkeeping. 

Bookkeeping: Your Business's Best-Kept Secret

Here's something that might surprise you – great bookkeeping is actually your secret weapon for getting paid faster! Think about it: when your books are spotless and up-to-date, you've got a crystal-clear picture of who owes what and when. No more guessing games or "Oh, I thought I paid that" conversations with clients. If you don’t have time to keep on top of your bookkeeping then it’s time to hire a bookkeeper. 

Your Dream Team Member: A Professional Bookkeeper

You know how they say two heads are better than one? Well, having a professional bookkeeper on your side is like having a financial superhero in your corner. We’re not just number-crunchers, we're your strategic partner in making sure your business's cash flow is healthy and happy. We'll spot patterns you might miss and wave red flags before small issues become big headaches.

AT ACE-XL we will ensure that your books are up to date, so payment visibility is clear and you can even leave the credit control to us too! No more awkward conversations with clients!

Making Invoicing a Breeze

Let's be honest – nobody started their business because they were passionate about invoicing! (apart from me!) But with Xero, it's actually become (dare we say it?) enjoyable. You can whip up professional-looking invoices in seconds, and the best part? You can see exactly when your client has viewed it. No more "lost in spam" excuses!

The Art of Getting Paid

Here's a little secret: getting paid on time isn't just about having the right systems (though that's super important!) – it's about making it ridiculously easy for your clients to pay you. Think about it like this: if your client can pay you while sipping their morning coffee, you're much more likely to see that money in your account sooner rather than later.

We also encourage clients to use payment methods such as Direct Debit. With Adfin your client has to set up a recurring Direct Debit, so payment will automatically be taken every month. You can also take card payments or send an open banking link, so receive payments quickly and with low costs.

Tracking Made Simple

Remember the old days of spreadsheets and manual tracking? (We're getting a headache just thinking about it!) Today's tech makes keeping tabs on your payments as easy as checking your social media. You can see exactly where every penny is, who's paid, who hasn't, and what's coming up – all at a glance.

Getting paid on time doesn't have to be a constant battle. With the right tools (Adfin and Xero), some smart automation, and a great bookkeeper by your side, you can transform your cash flow from a source of stress to bliss!

Ready to revolutionise your payment process? Start small – pick one thing from this blog to implement this week. Maybe it's setting up those Xero automations, or perhaps it's time to have a chat with us about streamlining your systems. Whatever you choose, your future self (and your bank account!) will thank you.

Remember, every successful business owner started exactly where you are now. The difference is in taking that first step towards better financial management. So, what's it going to be? Which change will you make first?

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