AZ PowerWash Pros
New member
As we all know, cash flow can make or break our companies. So yesterday I stop by my office and check out QuickBooks and we are waiting on $300K in receivables since Jan!! My jaw almost hit the floor. Running $60-70K a month in payroll I need to have my cash flow caught up the best I can at all times, or I have to dip into my credit line, and I obviously don't want to do that.
Anyway, I sent out emails to all our past due clients and let them know they would receive 5% off their outstanding balance if they paid by Friday. We got so much money in so quickly it was crazy! I am thinking I am going to add this into my expenses when bidding jobs from here on out. And offer this discount to all my clients on the invoice itself.
What do you guys think about that? Does anyone else offer discounts for early payment?
Anyway, I sent out emails to all our past due clients and let them know they would receive 5% off their outstanding balance if they paid by Friday. We got so much money in so quickly it was crazy! I am thinking I am going to add this into my expenses when bidding jobs from here on out. And offer this discount to all my clients on the invoice itself.
What do you guys think about that? Does anyone else offer discounts for early payment?