02-12-2015, 10:26 AM
First of all being polite really matters! A simple “please pay your invoice within” or “thank you for your business” can increase the percentage of invoices that are paid on time! Politeness clearly gets you paid faster.
When it comes to terms it is a good idea to offer a carrot before threatening with a stick. Here's an example...
Terms: 2/10 Net 30 (Take 2% discount if paid in 10 days, otherwise please pay within 30 days)
If the invoice isn’t paid within 60 days, a 5% “delayed payment” fee will be charged.
An additional 5% fee will be charged each 30 day cycle until the invoice is paid.
Thank you for your timely payment. It is very much appreciated!
P.S. Accepting credit card payments makes it easier for your customers to pay you more quickly too. In fact in today's business world, paying with a credit / debit card is a normal practice.
When it comes to terms it is a good idea to offer a carrot before threatening with a stick. Here's an example...
Terms: 2/10 Net 30 (Take 2% discount if paid in 10 days, otherwise please pay within 30 days)
If the invoice isn’t paid within 60 days, a 5% “delayed payment” fee will be charged.
An additional 5% fee will be charged each 30 day cycle until the invoice is paid.
Thank you for your timely payment. It is very much appreciated!
P.S. Accepting credit card payments makes it easier for your customers to pay you more quickly too. In fact in today's business world, paying with a credit / debit card is a normal practice.