Invoice TemplatesFree Download Invoice Templates Design

Excel Membership Database Template

By On Sep 10, 2018 Invoice Templates

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Once you’ve delivered your side of the agreement, it’s time to send your customers an invoice. Invoicing them as quickly as possible helps to encourage them to pay faster. After all, if you’ve delivered your products on Monday, why wait until Friday to send your customers an invoice? If you’re billing your clients for services rendered, sending invoices upon the completion of a project serves another purpose: it encourages them to pay while the value of your work is still fresh in their minds.

However, setting Net-30 payment terms doesn’t mean that you’ll definitely get paid on time. Most debtors pay 2 weeks late regardless of whether payment terms are due immediately or due in 30 days. In light of this, if getting paid in 30 days is critical for your business cash flow, decreasing your payment terms could be a great way to ensure you get paid in time. After all, if you’ve tried your best to provide your customers with goods and services according to their deadlines, it’s only fair for them to pay you promptly as well.

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If you’ve noticed your customers are putting off payment until the last possible date, it might be time to start incentivizing early payments by offering a small discount for invoices that are paid in advance. To do this, you need to decide on a specific early time frame. Make sure you feature these incentives in your invoice to motivate the customer to react to the offer you’re putting in front of them. By rewarding your customers for their business, you’ll be able to encourage loyalty while ensuring they pay you promptly.

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