5 Accounts Receivable Tips to Get Paid Faster

Getting paid on time is one of the biggest challenges for small business owners. You've done the work — now you need the cash. Here are five practical strategies to speed up your collections and keep cash flowing.

Don't wait until the end of the month to send invoices. Invoice the moment a job is complete or a service is delivered. The sooner the invoice goes out, the sooner the clock starts on payment.

In QuickBooks Online, you can set up automatic invoicing for recurring clients so it goes out without you lifting a finger.

Your invoice should clearly state when payment is due. Common terms:

• Net 15 — due within 15 days
• Net 30 — due within 30 days
• Due on receipt — payment expected immediately

If you're dealing with chronic late payers, consider shortening your terms or requiring a deposit upfront.

The harder it is to pay, the longer it takes. Accept multiple payment methods: credit card, ACH transfer, Zelle, PayPal. The fewer steps between your client and payment, the better.

Don't wait for an invoice to go past due before following up. A friendly reminder 3–5 days before the due date is professional and effective. Most late payments happen because clients simply forgot — not because they're unwilling to pay.

If you have a late fee policy, enforce it. A 1.5% monthly late fee is standard. Clients who know you enforce it will prioritize your invoices.

If an invoice is 60+ days past due, it's time to escalate. Send a formal demand letter, pause services, or consider a collections agency for large balances.

Struggling to keep up with invoicing and collections? The Gap ProAdvisors offers Invoicing/A-R management as an add-on service for $200/month. Contact us to learn more.