5 Tips for Collecting Invoices

Whilst legal action (or proposed legal action) is an effective method of getting invoices paid, we’ve compiled our list of the best ways to collecting invoices and keep on top of problematic payers before it’s too late.

1 – stating your payment terms in advance; it may seem obvious, but a friendly upfront notice of what your payment terms are before agreeing the contract can help late payers who claim they didn’t know;

2 – consider a personal guarantee; a simple personal guarantee can be drafted and included in your standard terms quickly and cost effectively. Whilst you hope you don’t have to invoke it, it acts as a reminder to both you and the customer;

3 – be flexible with payment types; in a modern world, different customers like to pay by different methods. Having a variety of payment methods will make it easier for customers to pay on time;

4 – regular payment reminders; good management of your invoices from the outset is crucial to keeping you at the forefront of your client’s mind;

5 – discounts on early paid invoices; depending on your business type, an incentive such as a small discount for early payment will attract customers to pay early.

If you or your business are struggling collecting invoices, then we can help you recover money owed to you. Head over to our registration page to register for free and begin the debt collection process in moments.

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