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Four more easy ways to up collections!

January 13, 2012

On January 9th, I posted “Three easy ways to up collections“, since then, I came across a post at Mark’s Bookkeeping that adds four more items to the list.

From the Mark’s list:

  1. Invoice your client on the same day you complete the work. You can even let the client know in advance that you’re going to be invoicing them as soon as work is complete. The sooner you get your invoice out, the sooner you’ll be potentially paid for the work you’ve done.
  2. Print your payment policy directly on your invoices. Providing this information right on the invoice is a gentle reminder to your customers that you take prompt payments seriously, and gives them all the information they need to provide that payment in a timely manner.
  3. Write your payment policy into your contract or engagement agreement. If your customers are fully aware of your payment policy before you even begin work with them, they’ll be much more likely to pay according to the terms you’ve set. The more information you can provide them, the better your chances of seeing prompt payments.
  4. Call the client before the invoice is due. Many business owners will call the accounts payable department of a customer a few days before an invoice is due. In doing so, they’re able to remind the client of the upcoming payment, and also gauge whether or not there may be any problems or delays in payment.
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