How to close your financial year without unpaid invoices

How to close your financial year with as few unpaid invoices as possible: a practical checklist

The end of the financial year is the perfect moment to get everything in order. Invoices that have been outstanding for months? Customers who keep saying they’ll “look into it soon”? If you don’t take action, these overdue amounts will follow you into the new year.

Fortunately, with a well-structured approach you can prevent many issues. This practical checklist helps you close the year with minimal outstanding invoices and a strong cash flow.

✅ Get a clear overview of your outstanding invoices

Start by collecting a detailed overview of:

  • All unpaid invoices
  • Due date for each invoice
  • Amount and client information
  • Any previous communication or agreements

Tip: Sort by age. The older the invoice, the lower the chance of spontaneous payment and the more urgent it becomes to take action.

✅Send reminders and follow-ups before the (Christmas) holidays

December is a busy month for many businesses. So don’t wait until the holiday rush to send payment reminders.

Ideally, send them:

  • In the first half of December
  • By email, followed up by a phone call if necessary
  • With a clear deadline for payment

Example message:
“Dear customer, according to our records the invoice below is still outstanding. We kindly ask you to complete payment before [date], so we can both close the year on a positive note.”

✅ Check for disputes or missing information

Sometimes invoices remain unpaid for reasons that aren’t immediately visible:

  • The client claims the invoice was never received
  • There are questions or concerns about the content
  • A purchase order number or reference is missing

Be proactive: give your customer a quick call to clarify and resolve the issue together.

✅ Involve external support for invoices that are overdue for too long

If reminders don’t lead to payment, sending more reminders usually doesn’t help. It may be time to involve outside professionals who can take legal action.

  • If there is a dispute: involve your lawyer.
  • If there is no dispute: you can collect quickly and efficiently via Unpaid, without a lawyer or court intervention.

This keeps the recovery process clear and saves you valuable time.

✅ Review your customer list for next year

Year-end is the perfect moment to evaluate your client portfolio:

  • Who always pays on time?
  • Who do you consistently have to chase?
  • Are some industries higher risk?

Tip: Flag high-risk customers for the coming year. You can then apply stricter payment terms or require advance payments.

Conclusion

Year-end is not the time to relax if you still have unpaid invoices. Taking action now means you’ll start the new year with peace of mind: fewer cash-flow concerns and a stronger financial foundation.

Want to recover unpaid invoices quickly, efficiently, and without legal costs? Submit your case to Unpaid and finish the year strong.

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