It’s true, some customers and clients make a conscious decision to leave their bills unpaid. However, there are many people who fail to pay a bill simply because of an error, or a misunderstanding of the bill. As a business owner, providing clear and error free invoices is one way to increase your chances of being paid for the goods or services you provide. Continue reading for 4 best practices every business should follow.
#1. Clearly state your company name, address, and phone number on the invoice. An improperly or poorly labeled invoice may go unpaid if the recipient is unsure of where to send payment.
#2. Indicate who the bill is directed to. Make sure the invoice clearly states who should be paying the bill. A bill may be disregarded or thrown away if the recipient does not see their name listed on the invoice.
#3. Include detailed payment instructions. Outline how the bill should be paid clearly on the invoice. If accepting checks, indicate where the checks should be sent; if accepting credit card payments include information about processing fees.
#4. Outline payment due date and consequences for failure to pay. It should obvious when payment is expected for the invoice. Additionally, include any consequences for failure to pay such as late fees or increased interest rates.
We know how frustrating it can be when you are struggling to collect payment for goods or services you have provided. If your best efforts to collect are coming up empty, hiring a collection attorney may be the next step. To learn more about working with Howe & Associates Debt Collection Attorneys, click here or call 678-566-6800.