In order to prevent late payment issues arising in the first place, it's a good idea to perform credit checks on new customers. This could include checking whether a new customer has any court judgments outstanding against them and whether they are solvent. Ensure that every customer is issued with a tightly drawn agreement or Terms and conditions in which payment terms are clearly set out. Invoices should be issued in a timely manner and remember to keep an audit trail of credit-related documents, as records are crucial to effective debt collection.