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January 7, 2013

How to Make an Invoice that Gets Paid on Time

8174806_mWhen it comes to professionals (such as architects and attorneys) and business services companies (like web developers and graphic designers) one constant challenge is getting clients to pay the bill on time.

Let’s face it, just about any business can run into this problem.

However, if it seems that you’re always waiting for checks to arrive in the mail chances are you have flaws with your invoicing system.

Let me explain…

Your Invoice is a Marketing Document

Believe it or not your invoice is a marketing document. The goal is to communicate the value you bring to a client or customer, not simply the “price” or “amount” of what they owe you.

In fact, every piece of mail, email, or phone call with a client is an aspect of marketing.

Same with customer service.

Okay, so how do you create an invoice that helps you get paid on time?

Items to include on your invoice:

  1. include YOUR tax registration #
  2. list invoice #, due date and payment terms
  3. allow for multiple forms of payment (i.e. check and credit card)
  4. include the “bill to” name if your client is a larger organization
  5. fill the “details” section with relevant information about the program or items on the invoice
  6. use paper that allows for a tear off section at the bottom for return payment
  7. list any “client discounts” and the reason(s) in the details section

Remember, the goal is communicate the value you bring to the table — you’re not simply making a “laundry list” of charges for services rendered.

The idea, too, is to make it easy for your client or customer to pay you.

By including a “bill to” name you can be sure that the invoice will go to the right person in the organization responsible for paying your bill. Using a tear off portion (and providing a return payment envelope) makes it easy for them to send you payment.

After all, why do you think utilities and credit card companies do this as well?

Here are some other issues to consider when it comes to invoicing your customers or clients:

  1. get invoices out the door ON TIME
  2. make sure your invoices list all the work / services performed for clients
  3. make sure you list any “client discounts” clearly on the invoice
  4. switch customers or clients to recurring billing, if possible
  5. provide a return payment envelope
  6. send out email reminders
  7. allow for multiple payment options

Would you like to review a sample?

Simply click the link to open (or download) an invoice example.

By following these tips there’s no doubt that you’ll speed up the time it takes to get paid. However, sometimes even the best possible invoice gets ignored by your former customer or client.

If you’re still not getting paid even after 2nd or 3rd notices perhaps it’s time to…

Find a Debt Collection Agency Today

To find the right collection agency for your business click the link below and get your free quotes from qualified and reputable companies…

Click and compare free collection agency quotes today.

After all, you really only have two choices:

  1. you can keep doing what you’re doing (and hope for a different result), or
  2. you can hire an outside company and collect the money you rightfully deserve.

Use the link above for your free quotes, or click to find commercial collection agencies for your State or Metro area that can help you recover lost revenue starting today.

Either way the choice is yours…

Filed Under: Customer Invoice, Practice Management, Recurring Billing

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