By On Sep 01, 2018 Invoice Templates
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.
The biggest advantage of invoice templates is that their real timesavers. All you have to do is insert the invoicing essentials and send-off the invoice. This is particularly useful if you’re swamped or new to invoicing since templates come equipped with the most important information already has a place on the document, such as contact information and being able to list the services or products that you’re charging the client. As you’ll notice if you do a simple Google search, there are thousands of templates you can chose from online. So you shouldn’t have a problem finding a template that you’re a fan of.
If incentivizing early payments is a carrot to encourage prompt payment, charging for late payments would be the stick. By adding late fees to your invoices, you’ll add a sense of urgency to your invoices. However, by doing this, you need to be prepared for vocal feedback from your customers -- especially those with the bad habit of paying late.
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