Share Your Payment Terms
Kindly state your payment terms and how it impacts your client. If you have a late penalty, let them know when it will kick in and how it is calculated.
Offering a ‘mercy date’ can help expedite the process. If the client pays by X date, you will waive the interest. If you have not received payment by this day, share an updated invoice with the new final sum.
Follow Up With Outstanding Balances
Email the client with a record of their outstanding balances, including the current amount, invoice number, and due date. State in a friendly manner, you are looking forward to their payment, if you do not receive payment by X date, you will follow up with their updated total including incurred fees.
End The Relationship
If ending the relationship is the best course of action, once your client has cleared their debt, let them know due to cash flow reasons you can no longer continue working with them, and wish them the best in the future. Make it clear, concise, and kind.
Anything I have missed? What are your go-to methods for getting paid promptly? Leave a comment below.
Photo Credit: Pepi Stojanovski