Here at Commercial Domestic Investigations our team recognise that a company invoice is a lot of things, not only is it a request for payment, a legal document that you must keep for your financial records but it is the final piece of the jigsaw when it comes to completion of work and getting paid. If a customer were to receive an invoice from you would it stand up to scrutiny or would it crumble, leaving you to pick up the pieces and cover the costs.
It needs to be clear to the customer who the invoice is from, this may seem obvious but if your client isn’t 100% on where the invoice has come from, they won’t pay. An invoice is an extension of your businesses image and represents you. Spend time designing an invoice template that includes your logo and company details so they can’t be missed.
How many invoices do you receive on a weekly basis? Well, your client probably receives a similar amount. You cannot assume that your client will remember what you did for them, especially if the invoice arrives weeks after you have completed the work. Ensure that you quote any reference numbers and note any details of what was done.
The figure at the bottom of the invoice may not be quite what the customer was expecting, and even if it was, people never like to be reminded of how much money they are spending. When detailing the work that you have done, be sure to include the effort that you went to and if applicable, detail the time that was spent on the project. This will remind the customer how much care you took over the project.
Make your credit terms clear, be it 7, 14 or 28 days include this information in no uncertain terms. This means that if the client doesn’t pay on time, they will not be surprised when an overdue payment notice lands on their desk. If you are unsure on how to set payment terms or if you have troublesome clients that are taking advantage of your terms Commercial Domestic Investigations offer a credit reporting service, we have the experience required to help your business maintain positive cash flow and give you the peace of mind that your company will be paid for any work that you complete by providing the payment and credit history of your clients.
Many clients are keen to make a payment for all the great work that you have done. Clearly offer all the necessary payment information on the invoice. This would typically include BACS information and any other payment method you accept. This is paramount, if the client doesn’t have the payment information they will not chase you down to get it, this may mean you miss out on payment for weeks until you chase the client up.
If you want to speak to us about our credit reporting services or any other debt recovery services that we offer, contact us on 08444 159200 or email us firstname.lastname@example.org.