02
Create a Payments Collected Report
Insightful Inflows
Thank you for signing up for this weekly habit series! I’m excited to embark on this journey with you.
Habit of the week:
Create a Payments Collected Report
This week, create a payments collected report for the past 12 months. This report focuses on the actual cash flow into your business. It details the payments received within a specific period, regardless of when the services or products were delivered or sold. This report is more about tracking cash inflow and analyzing client spending.
Why it matters:
Crafting a payments collected report offers insightful clarity on your top clients and most popular services. Often, we examine financial reports primarily to understand our overall profitability. However, this specific report shifts our focus to recognize which clients appreciate our services the most and which of our offerings or packages have been the most successful.
Quick Start Guide:
To begin, use your invoicing or bookkeeping software to create a report of all payments received in the last 12 months. For optimal analysis, export this report as a CSV file, then upload it into a program like Google Sheets or Excel. Once in a spreadsheet format, you can easily sort the data to display payments from highest to lowest. This process will effectively highlight your most financially rewarding clients. Instruction examples:
Cami's Tips
Continue to examine this data over the course of the week.
- Start by identifying the total number of clients who have made payments to you in the past year. Take a moment to appreciate this figure, and then set a goal to increase it.
- Reflect on whether you are giving adequate attention to your most valuable clients. When did you last contact them?
- Also, consider where your more demanding or 'squeaky wheel' clients stand in these rankings. Are you paying attention to the right clients?
Routine Checkpoint:
Remember, keep your payments collected report handy!
Future habits are going to build on the data you discovered. Aim to generate this report every six months.
And here's a little tip to make your habit-building journey even smoother:
Why not set up a special 'Habits' folder for the year?
It's a great spot to stash reports like this one and keep tabs on all your new habits. Think of it as your personal toolkit for easy access to everything you need to stay organized and on track. Happy habit building!
What's Your Take?
What did practicing this habit teach you? Send me a reply, share your experiences and revelations using #WebDesignerHabits on your favorite social networks, or for a more community-focused chat, join us on Facebook!
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Podcast Episode:
about the author
Cami MacNamara is a web designer and owner of WebCami LLC, a Seattle-based agency since 2002. She created Web Designer Habits to help solopreneurs build smarter systems, stay productive, and run a business that works for them.