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CFL Financial location Level 9, 360 Queen Street Brisbane, QLD 4000
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phone CFL Financial 07 3328 8988
Email CFL Financial mail@cflfinancial.com.au

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Retirement-in style

Retire in style checklist™

There are a few reasons why Business Owners need a Retire In Style Checklist

If you’re a successful and Motivated business owner, and want to set yourself up for retirement, this guide would be perfect for you. My clients who follow these 3 simple steps live with comfort, security and the peace of mind that financial success brings.

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The Retirement Prosperity Guide™

Make sure you don’t miss out on the Retirement Prosperity Guide

If you’re a busy Professional and you feel like you’re not building your wealth fast enough and you want smarter ways to utilise your cash flow, this guide is perfect for you. Clients who have used our strategies have the peace-of-mind knowing they have a ‘game plan’ for financial abundance.

Getting customers to settle debts

Posted on Apr 11, 2014 by CFL Financial

Good credit management is an important business strategy to maintain cash flow and stable finances. A cornerstone of managing credit is not only making sure an invoice gets paid, but gets paid on time.

Before a debt recovery process commences, which may delay payment further and damage a relationship with a customer, it is worthwhile for businesses to put a few processes in place to avoid customer debt in the first place.

1. Prepare customers. Making sure the customers understand their payment terms from the start is the first step in training them to keep track of outstanding invoices and payment due dates.

2. Keep detailed records. Businesses should keep all customer records such as payment term agreements, customer limits and outstanding sales.

3. Follow up regularly. Starting following up procedures once a payment becomes overdue will help speed up the process. It is also very important to know exactly who to speak to about payment matters.

4. Implement payment-in-full. Most businesses adopt this policy in regards to payment procedures. This way the customer has a full amount to pay by a concrete due date. Sometimes ‘making it easier’ for the customer by staggering payments and due dates can confuse and delay payments even further.

5. Upfront payments. For labour and time intensive work, some businesses ask for a part payment or deposit up front. This works as a way of showing that the customer is financially committed to the project and also allows a business to better manage cash flow.

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Retirement-in style

Retire in style checklist™

There are a few reasons why Business Owners need a Retire In Style Checklist

If you’re a successful and Motivated business owner, and want to set yourself up for retirement, this guide would be perfect for you. My clients who follow these 3 simple steps live with comfort, security and the peace of mind that financial success brings.

Retirement-prosperity-thumbnail

The Retirement Prosperity Guide™

Make sure you don’t miss out on the Retirement Prosperity Guide

If you’re a busy Professional and you feel like you’re not building your wealth fast enough and you want smarter ways to utilise your cash flow, this guide is perfect for you. Clients who have used our strategies have the peace-of-mind knowing they have a ‘game plan’ for financial abundance.

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Phone: 07 3328 8988
Fax: 07 3328 8999

Office Location:
Level 15, 10 Market Street,
Brisbane,
QLD 4000

Postal Address:
GPO Box 2468,
Brisbane,
QLD, 4001

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