invoicing

3 Steps for Creating a Proper Schedule of Values

March 20, 2019 TonyB Coachcasts, Project Management 0 Comments

Keeping Customers Paying on Time

March 13, 2019 TonyB Coachcasts, Project Management 0 Comments

Managing the Project Invoice Process and More

November 8, 2017 TonyB Coachcasts, Project Management 0 Comments

Preparing the Initial Project Invoice

September 27, 2017 TonyB Coachcasts, Project Management 0 Comments

E468: Managing The Invoicing Process

June 1, 2016 TonyB Coachcasts, Project Management 0 Comments

Carefully manage the invoicing process to keep your payments on track.

 

  1. Cash is King – stay on top of it
    1. As Elite Contractors we strive to make other’s jobs easier
    2. Make invoicing and the payment process simple
    3. Stay on top of the process from start to finish
  2. Be proactive throughout the process
    1. Establish a Schedule of Values and payment process upfront
    2. Review invoices prior to submission
    3. Track the invoice through the entire process
      1. Offer to make improvements that will make things better
  3. Be fair and expect the same in return
    1. Create a SOV that is fair to both parties
      1. Want a mobilization payment? consider adding a demobilization line item as well
    2. Calculate the percentages accurately
    3. Get the paperwork correct the first time, every time

E426: Ask Coach – Dealing With A Slow Paying Client

April 4, 2016 TonyB Ask The Coach, Coachcasts 0 Comments

Managing our cash flow can be very challenging when dealing with a slow-paying client.

 

Q: What’s the best way to deal with my slow paying client?

A: Work closely with them to eliminate any hurdles and keep communication going.

 

  1. Understand why the pay is slow
    1. Paperwork
    2. Money flow
    3. Poor management
  2. Prevent what you can
    1. Know your client – know what they expect
      1. Make adjustments to better absorb the slow pay
    2. Do the paperwork properly the first time
    3. Keep an open line of communication
  3. Be smart and proactive
    1. Don’t make accusations – people in glass houses shouldn’t throw stones
      1. Do you pay your people timely?
    2. Follow-up on your invoices
    3. Protect yourself
      1. Know the time limits on filing any liens or claims and always protect your rights
    4. Don’t make threats until there is no other option

E218: First Invoice Submission

June 17, 2015 TonyB Coachcasts, Project Management 0 Comments

Show that invoicing is important on the first invoice submission.

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