Archive for April, 2010

Disputes Over Money

Wednesday, April 14th, 2010

It’s disheartening, when you do a great job for someone, (and have been doing work for them for over a year), and then ‘all of a sudden’ you realise that they’re built up quite a big debt with you…. so then you politely ask them to make a payment, and suddenly they’re not quite as friendly anymore.

This is a situation facing a client we saw. The dispute is for about 25% of the entire debt. Thus, of the £12,000 balance, their client only wants to pay £9,000. But you see, the £3,000 could be where all the profit for that company is. What do you do?

Tips:

1. Try and resolve it as quickly and as amicably as possible

2. Use a mediator if that helps, but don’t get emotional about it OR ignore it.

3. Invoice regularly, and (preferably) get paid for each part of the job.

If you are self-employed … it can be difficult to ask for your money… Especially if you work quite closely with your client, and you are doing the work (hands-on) yourself. If you are focused on your work and you’d like someone separately to be focused on your books, then it might be worth getting a part time bookkeeper to do the ‘dirty’ work for you…

Boogles… we love the job you hate ! 🙂