RACA Journal I June 2026 www. refrigerationandaircon. co. za 43
SMALL BUSINESS MANAGEMENT
This immediately shows you which jobs are making money and which ones aren’ t. Many contractors and / or tradespeople only look at money in the bank. That’ s dangerous. A spreadsheet tells you whether you are actually profitable.
It also helps with pricing. After a few months, patterns emerge. You start seeing which types of jobs are worth chasing and which ones to avoid. Invoicing is important. Handwritten invoices and WhatsApp payment requests create confusion. They also delay payment.
Use a simple invoicing tool. It can be:
• Excel invoice template
• PDF invoice from Word
• Basic invoicing app
• Accounting software
The important thing is consistency. Every invoice should include:
• Your business name and contact details
• Customer name
• Job description
• Amount
• Payment terms( for example: Due on receipt)
• Bank details
• Invoice number
Numbered invoices matter more than people think. They help you track missing payments and avoid disputes. Send invoices immediately after completing the job. Not later that evening. Not the next day. Immediately. The faster the invoice goes out, the faster you get paid.
TRACK PAYMENTS PROPERLY This is where many small businesses fall down. They send invoices but don’ t track whether they’ ve been paid. Create a simple‘ Debtors List’ with:
• Invoice number
• Customer name
• Invoice amount
• Date issued
• Due date
• Paid( Yes / No)
• Days outstanding
Review this list once a week. It takes five minutes and keeps your cash flow under control. If an invoice is overdue:
• 7 days: friendly reminder
• 14 days: follow-up call
• 30 days: stop new work until paid
This isn’ t being difficult. It’ s running a business voices
RACA Journal I June 2026 www. refrigerationandaircon. co. za 43