Running a business comes with endless minor details needing to run in unityfor continual smooth operations. With multiple different contacts alternately going on vacation—as well as you, potentially—there are myriad of ways invoicing can go awry if you haven’t prepped for slightly unusual circumstances. On the plus side, there are simple ways to avoid those disruptions and maintain consistent capital all through the vacation season.
Utilize Accounting and Invoicing Software
An easy way to keep tabs while on vacation, or at home, is to install accounting and invoicing software. With WiFi and access to the Cloud, this information will be available to you everywhere and on any necessary devices.
Invoice dates and data showing income versus expenses will be effortlessly accessible and may be tweaked at any time. You can send invoices from the beach while you sip margaritas (though it’s recommended you send the invoices and then indulge in full vacation mode). Apps like Debitoor can turn checking on and updating your business accounts into a quick review instead of time-consuming calling and emailing.
Know Your Contacts
Vacations don’t usually come all at once per company, but what if acontact is on vacation, and their client was out the week before? You can see how it quickly snowballs into a significant issue for keeping up on accounts. The best way to battle this dilemma is to know all your major contacts as well as acquire numbers for the second-degree connections beyond them.
If your client’s accounts payable lead is on holiday, and you don’t know who else to reach out to, you might miss out on payments until they return. Ask for additional colleagues’ information in advance. Otherwise, you may end up on a wild goose chase trying to find anyone who can sign the check so you can make your payments without fear of going into the negative.
Additionally, there’s often only one person working on specific accounts receivable. Have proper documentation systems set up so the invoicing process can be promptly taken over with ease. Possibly even set up a method so all invoices are sent out before anyone from your team ever gets on a plane.
Set Yourself Up for Success
Hardest of all is when a client can’t be reached. Have a late fee or collections policy pre-stated in your agreements and find another viable associate in advance of these situations. It is not strange in the least to ask for further contact information in the case of a client being temporarily out of reach, ill, in an accident, or any other potential occurrence. Now you can sail through unscathed when your client camps out in the Australian wilderness for a month.
The goal during the holiday season is to never have reason to panic. You have access at all times to your invoices and other accounting details. There is never a time where you feel at a loss because you can’t reach someone vital, and there is no set agreement on how to handle it. Create clear standards from the outset, and your holiday season will have far fewer bumps.