While seeking late payments on invoices can be a difficult and sometimes awkward task, collecting payment that is owed is essential to the consistent and efficient flow of cash. Setting up a clear set of payment terms and conditions and providing prompt reminders on the due date can help speed up payment. Be polite and professional, but anticipate common excuses for late payment and be prepared to follow through on the consequences laid out in your payment agreement; and once the payment is completed, make sure to thank the client for their business.
Read more: Tackling late payers
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