“Nett 30days” is rubbish

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“Nett 30days” is rubbish

set a specific pay-by date on invoices

You open two envelopes in the office. Both have invoices for exactly the same amount. Dated the same date and with the same trading terms. Both are for services. Neither service is more important to you than the other. The only difference is the phrasing next to the amount due.

Invoice #1 says “Nett 30 days” or “Strictly 30 days” somewhere on the invoice. (“Strictly” … really?)
Invoice #2 boldly states “This invoice is due and payable on or before 15 November 2014”.

Answer these two questions. Quickly.
1. When’s payment due for Invoice #1?
2. When’s payment due for Invoice #2?

Easy to answer the second one wasn’t it? So, make it easy for YOUR customers to pay YOUR invoices by being sure to put these on your invoices
• a specific pay-by date.
• your bank BSB and Account Number.
• any other payment options (if any – have you considered accepting PayPal?).
• an invoice and/or account number (clearly displayed).
• a contact phone number.

In many instances, your invoice is the first time you’re asking for money. So it’s really important to be very clear about
• how much is due,
• when it’s due by and
• how easy it is for your account customers to pay it.
Life’s much harder if you don’t.

After all, the ‘fast’ money is always the ‘new’ money (new invoices) so best to get THIS stage right or your bath will fill up.

By | 2017-07-13T08:51:39+00:00 October 9th, 2014|wording|0 Comments

About the Author:

Have you ever wondered why a client does business with you and then ignores your invoice like they had no intention of paying it in the first place or they treat you like their own personal line of credit, leaving YOU dangling, waiting months for their payment? Unfortunately this situation is all too common and can even be puzzling for the most experienced business owner. If you’ve ever had to handle outstanding accounts or you are just so over non-payers, then we can help. Real-world skills, solutions, tips & strategies to get more accounts paid on time, and, most importantly, how to maintain customer goodwill while keeping YOUR cash flow in the positive. You will find the blog posts helpful but to get real results, contact us by using any of the forms on this site, by email or by phone. I’ve been involved in the management of accounts for over 30 years, heard every excuse in the book, can spot a non-payer at 20 paces. Finance Companies in the 70s (systematic, tough), professional firms in the 80s (no systems, too gentle) and, since then, just about every other sort of business you can think of. I’ve written books on the topic, spoken all over the place about it and the blog in this website is my way of “giving back”. I hope you find it helpful.

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