Subscribe to Entrepreneur for $5

Management Smarts

Tips and trends for growing your business

This story appears in the February 1996 issue of Entrepreneur. Subscribe »

In the ongoing battle to get paid on time, two of your most effective weapons are well-designed invoices and billing statements. Start by understanding the document's purpose, advises Frank Uhlman, a collections expert at the Commercial Law League of America.

"The invoice describes a particular purchase," Uhlman says. "Statements, or bills, are usually sent monthly and list the invoice numbers and dollar amounts of purchases and payments made during the billing period."

Continue reading this article -- and everything on Entrepreneur!

Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5!

3 months free with code ZENDESK

Presented by zendesk

3 months free with code ZENDESK