Essential Tricks for Invoice Collection

ISELIN, N.J. - Oct. 2, 2014 - PRLog -- Small business companies know that getting paid on time is essential on maintaining healthy cash flow within the organization. Below are the tips for ensuring your invoices get paid at time.

Polite Language in Invoices

A business survey states that, adding polite words such as 'please' (or) 'thank you' to your invoices increases the chance of being paid by over 15%.

Invoice Customization

Prepare the list of information your customer require to be mentioned in the invoices where some customers require Purchase Order (P.O) or Employer Identification Number (EIN). Thus, initial customization avoids re-invoicing as a result of incorrect/missing information.

Reminder Email & Penalise Late Payments

Instead of speeding up after payment due, send friendly reminder emails before the due date. Inform your clients that late payments after due date results in tardy settling of about 2% in each month. This enables your customers to prioritize their payments on avoidance of late penalties.

Discount for Early Payments

Offer an discount about 2% to 5% on making payments before 14 days for a 30 day invoice. Also, offering an extra credit and gift certificates for early payments will strengthen your customer loyalty.

Multiple Payment Options for Clients

Offer multiple payment modes to make client feel easy on making payments. And be sure on mentioning the payment method details in the invoices clearly.

Author Bio:

Atkku Services - Accounting firm for Small business

Atkku, the leading accounting firm of Newjersey, uses well trained professionals to help clients manage their accounts and less time spending on bookkeeping and managing documents. We take care of accounts receivable management, accounts payable management, bank statement reconciliation, credit card reconciliation.

http://www.atkku.com/Accounting-for-small-business.aspx