7 Effective Invoice Tips To Get Paid Faster
There are two sides to a successful business bargain. The onus lies on the part of the service provider or product seller to play his cards right to ensure that he has done his all part to ensure smooth and fast payment for services rendered.
Here are some super effective tips for invoicing to ensure a fast payment:
Include payment due date
This offers a deadline to when payment must be made. It goes a long way to create a sense of urgency to the paying client.
List our payment types accepted
Listing all the available options accepted gives more options to the paying customer. Hence, this would reduce the need for excuses and also speed up the payment process.
Address the invoice to the right person
It’s important to know who is meant to receive the invoice and make payment.
Make sure that you have this information at hand. This will enable the invoice not passing through lots of people which would in turn delay payment.
Have good records of work you have done
It pays to have a journal stating all the jobs you’ve worked on. This serves as a reference point for creating invoice swiftly when the project is completed and also act as evidence to attest the execution of the job.
Automate your invoice system
Gone are the days of old where you have to fully write everything down by hand. We now live in a fast-paced world where it is important to do things with speed. Automating your invoice gives less room for delays in preparation.
Penalize late payment with extra fees
In every business contract, there should be a clause that states that after a defined period there would be an increased interest payment on total fee. This will enable the debtor to make payments fast and it is important this is stated on the invoice before send.
Cross-check for errors before sending
Errors tend to delay payments. Any mistake makes for a void invoice. The seller may see the invoice as something sent in error and not act on it. It is imperative to do a double-check before hitting the send button.
There are still more effective invoicing approaches that would pretty much speed up the payment process. These above will make for a good try if followed correctly.