Tips on requesting payments for late invoices blog image

Tips on requesting payments for late invoices

Facebook Twitter LinkedIn Mail Us


While requesting payments for late invoices from your customers and clients may seem awkward and stressful for some, it is still payment for service that they had requested and that you accomplished. Therefore, you should rightfully get paid for your hard work and time.

Here are a few great tips on how you can overcome the discomfort and tension as well as preventing problems that may occur when requesting payments from your patrons.

Use online software

Using online software such as Xero is a great way to follow up on late payments. You can schedule generic due date reminders and messages in advance to be sent out to clients who have yet to pay for products or services rendered.

An ideal email reminder is simple and straight to the point such as, “We wish to inform you your invoice is overdue.” Then, include a link in the email to where they can pay to make it an easy process for your customers.

Provide instalment plans or layaway purchases

Offering payment plans is a great way to show your customers that you care. It indicates that you are aware that they may not be able to pay in full. Most people today love the convenience of instalment plans or layaway purchases, especially for high-end products and services. For business owners that prefer not to pressure their valued customers to pay in full, consider having this possibility.

Call them

Picking up the phone to get in touch with your clients is the best and fastest way to know why they’re late on their payment. It will allow you to clearly understand the situation so that you can take the best course of action. Truly listen and understand their situation, then as a professional business owner, explain your position in a firm but calm way.

If your business allows it, provide other possible payment alternatives or a due date extension. Doing so may give you a greater possibility that you will get paid and turn your customer into a ‘raving fan’ which will do wonders for your business.

 

Need more reliable business advice on how to grow your business? Speak with a Chan & Naylor Partner here today.

Aside from our comprehensive and holistic suite of business services, have a look at our other accounting and advisory services that can help you to achieve greater financial success.

If you like this post, “Tips on requesting payments for late invoices”, subscribe to our newsletter and stay in touch with us by liking our Chan & Naylor Facebook page, as well as our Linkedin, Instagram, and Twitter pages.

The Chan & Naylor Group has national offices in North Sydney, South West Sydney, Sydney, Pymble and Parramatta in New South Wales, Melbourne, Moonee Ponds and Hawthorn in Victoria, Brisbane and Capalaba in Queensland, and East Perth in Western Australia that can give you great business advice. Contact us today.

Leave a Reply

Your email address will not be published. Required fields are marked *

Join our mailing list today!

Keep up to date with our latest news & updates!
Processing...
Thank you! Your subscription has been confirmed. You'll hear from us soon.
Join Our Mailing List
Join thousands of property investors and business owners who subscribe to Chan & Naylor – get monthly updates including news and views from experts in property, business, wealth creation, tax accounting, finance...and more!
ErrorHere