By On Feb 04, 2019 Invoice Templates
How do you accept payments from your customers? For example, do you only accept cheques sent in the mail, or through PayPal? If you do, it may be time to rethink your policy on payment methods. By setting up more payment options for customers to choose from, you’re making it easier for them to pay you. This way, instead of having to make a special trip to the post office, they’ll be able to pay you in a way they’re comfortable and familiar with.
For a start, keeping your invoice simple enables your customers to know exactly what they’re getting billed for. List the goods or services in a way that the customer can easily understand; for example, instead of listing your products by SKU (SS15DrRM), writing out the product name in full (red dress, size medium for Spring/Summer ‘15) lets your customer know exactly what they ordered at a glance. Similarly, putting your company’s logo in a prominent position (the top right corner in our case) helps your customers to identify your business. Also, by personalizing your invoice with your business logo, it’ll make you look more professional… and increase your chances of getting paid by 300%!
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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