Getting paid on time is crucial for your business. But you don’t want to spend your time chasing down customers and trying to figure out who needs to pay you and when.
To make sure you don’t suffer from a lack of cash flow, Wave has a few features (and shortcuts) that can automate parts of the invoice process to save you time and get paid faster.
We’re going to cover three specific ways you can use Wave to stay on top of overdue invoices and even prevent them altogether:
- Set up invoice reminders
- Let your customers pay right away
- Save time with recurring billing
Set up invoice reminders
Once you log into Wave, your dashboard will show any overdue invoices in the top-left corner.
Click on “Send a reminder” and an email will be sent right out to gently remind your customer about their invoice.
This works for any overdue invoice you currently have. It can also be set up when you make a new invoice to prevent your them from becoming overdue in the first place.
Let your customers pay right away
Another great way to make sure invoices are paid on time is to give your customers the option to pay right away by enabling Payments. This will let your customers enter their credit card or banking information in a form on their invoice. Now they don’t need to dig out their chequebook (do people still use those?) or wonder how else they can transfer you money.
Chasing people down for payments shouldn’t be part of your job description. The more you automate your daily follow-ups, email reminders, and options for payment, the more time you have to run your business.
Save time with recurring billing
A lot of small businesses have loyal customers who frequently purchase their goods or services again and again. Manually handling those invoices can really eat away at your time. That’s why Wave has a Recurring Billing feature.
Now you can easily set up a billing schedule for individual customers on a frequency that works for you. We’ll send an automatic email receipt for each one that you can review and track all in one place within Wave.
Bye bye, overdue payments! 👋
With just a few steps, you now know how to get rid of overdue invoices and also prevent them from happening in the first place. We know that business efficiency is one of your top priorities and the more you understand how to use Wave, the more time you’ll save.
Want to know more about how to use Wave like a pro? Ask in our Community to hear from other entrepreneurs. We might even write our next post about your topic!
The information and tips we’re sharing in this article are meant to be a starting point for your year-end tax prep, so you can be informed and feel confident when working with your accountant. Be sure to check with a tax expert in your country or region for any specific advice you need, as each business (and tax district) is different. As our lawyers would say: “This article is for informational purposes only. It should not be considered legal or financial advice.”