How to manage small business finances (simple system)Keep business money in a separate bank account, record every income and expense at least weekly, invoice on time and track who owes you, list your…How to create a GST invoice: what it must includeA GST tax invoice must show the supplier's name, address and GSTIN; a unique invoice number and date; the buyer's name, address and GSTIN for B2B; a…How to track pending payments and follow upKeep every unpaid invoice in one list with the client, amount, due date and days overdue. Review it weekly, follow up on a fixed schedule from a few…How to get clients to pay on timeAgree payment terms in writing before starting, bill in advance for monthly work, send invoices on the same date every month, make paying easy with…Cash flow for small businesses: a simple monthly viewCash flow is the timing of money coming in and going out. Track a simple monthly view: expected receipts, fixed costs, variable costs and the closing…Retainer billing for agencies: how to set it upAgree a fixed monthly scope and fee, bill in advance on the same date each month, automate the invoices, define how extra work is quoted, and set…How to track business expenses without an accountantPick 8 to 12 expense categories, record every expense within a week with date, amount, category and a photo of the bill, separate fixed monthly costs…How to manage recurring billing and subscriptions for your customersDefine each plan with price and cycle (monthly, quarterly, yearly), raise an invoice automatically every cycle, record payments against each invoice,…How to price your services (and stop undercharging)Work out your real cost per hour including salaries and overheads, add a healthy margin, then price by package or value rather than by hour. Offer…How to calculate profit per clientProfit per client is what the client pays you minus the cost of serving them: team hours multiplied by each person's cost per hour, plus direct…How to control fixed monthly costsList every cost that repeats monthly (rent, salaries, software, EMIs, utilities), add them up to find your break-even, cancel unused subscriptions,…Invoice vs proforma invoice vs quotationA quotation is an offer with prices before the client agrees. A proforma invoice is a preliminary bill sent before supply, often to collect an…How to track business debts and EMIsList every debt with the lender, original amount, current balance, EMI or due date and interest rate. Add EMIs to your fixed monthly costs, review…A 30-minute monthly money review for ownersOnce a month, spend 30 minutes on nine numbers: revenue, money collected, expenses, fixed costs, profit, money owed to you, money you owe, taxes due…How to track UPI and bank payments from clientsPut your UPI ID and invoice number on every invoice, ask clients to mention the invoice number in the payment note, record each payment against its…Should you take advance payments from clients?Yes, for most service work. Bill monthly retainers in advance, take 30 to 50 percent upfront on projects, and bill the rest on milestones. Explain it…
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