Invoice Terms that will make your clients Pay up Sooner

Posted on Apr 24, 2013 | 0 comments

Did you know that a recent study has found out that careful consideration of your invoice terms can help you get paid faster? Yup you read it right! Certain invoice wording will get you that check sooner than you have expected.

Courtesy Terms: Please and Thank You
Please and thank you not only shows that you are grateful to have made business with them but it also converts into payments. Having these two words into your invoice increases your chances of receiving the payment because they reflect politeness of asking for the payment rather than demanding for it.

The Consequences: Interests for Late Payments and more
No one wants to pay more than they ought to thus if you include the consequences of paying late in the invoice, it will help them see that they would just be inconvenienced more if they pay late. This is highly optional but if you enforce this strictly it will show clients that you are very serious with your business and that they either pay up now or risk having to pay more than they owe you. It would also be worth your time to check if they understood your terms as soon as they receive the invoice. They might think that you are making up these consequences or that they did not notice them when they received the invoice if you didn’t clear it out with them immediately.

Payments Terms: As specific and as clearly as possible
When you have the payments term laid out and stated clearly in the invoice, confusion will be lessened. The payment date should also be workable for both you and your client. Give your customers enough time to be able to pay up. This is also the part where you indicate the portion of the payment that needs to be paid in a certain date such as if you need half the payment at an earlier date or if you need a third of it sooner.

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