What do you think is the main reason keeping the client from paying you? Are those the real monetary reasons? Well, no! A 2023 survey on late payments in the USA suggests that 60% of the reasons behind late payments are absolutely non-monetary! So, then, what bothers the client from paying your bills on time?
When did you last issue your bill using invoice software for Mac or Windows?
Did you proofread all the minute details mentioned in your invoice?
Does your invoice itemize the details, citing the right breakdown of costs, including discounts and taxes?
Let’s pause here as we would like to help you get this information in a detailed way. But before that, do you know why your business needs timely payments? Is it just about getting the bill clear, or is there a larger picture? Let us discuss it now.
Why Paying Customers Are a Bliss for Your Business?
Late payments are a significant issue that upsets any business’s financial cycle. In a small business owner’s life, it is the paying customers that help to keep the business going because timely payments help the company pay their vendors on time as well. An entire payment cycle needs to be managed smartly to keep your business away from debt.
Paying customers helps manage the positive cash flow in your business, which is why it is highly significant to have your customers pay your bills on time. If you are facing any payment issues in your business or are wondering how to collect money from clients who won’t pay, here are some proven tricks.
5 Proven Tricks to Get Your Customers Pay on Time
There isn’t any definite mantra that hypnotizes your clients to pay you on time, but yes, there are really proven tricks that motivate and inspire you to get paying customers. Let’s discuss how to get clients to pay efficiently and promptly.
Delayed Invoices Never Help!
Trick #1: Invoice Right After the Sale/Service
Sending an invoice at the right time helps your invoice get paid on time. But that doesn’t mean you send an invoice in a hurry with inaccurate information or calculations. For the same, investing in paid or free invoice software for Mac or Windows is advisable. Efficient billing software for Mac can help your business generate quick invoices in no time and accurately.
So, the first trick to get your clients to pay you on time is to invoice immediately, straight after the sale or service is completed. If your business is into selling goods, the invoice must be generated after the goods are delivered. If you are in a service business, it is essential to send an invoice right after the service is completed.
But as mentioned above, having the right invoice software for Mac, Windows, or iPhone is crucial. Professional invoicing software helps with readymade invoice templates that save time and resources in generating an invoice. So, try to send an invoice on time and check whether your payment cycle is enhanced or improved.
Vague Business Terms Never Help
Trick #2: Add Payment Terms to the Invoice
An invoice without the mentioned payment terms can lead to confusion regarding the due date. Hence, it is always advisable to cite the business invoice terms at the bottom of the invoice, mentioning the last date for payment to avoid any delayed payment issues.
The popular payment terms that help your business with paying customers are:
- Net 30
- Due Upon Receipt
- Net 45
Add these payment terms to invoices and acknowledge your clients about the due date for the invoice, thereby receiving timely payments. An invoice without any due date shall leave the client confused, and hence, the client chooses any random date for the payment as per their business’s payment client, thereby making you wait. Hence, it is advisable to add invoice or payment terms at the end of the invoice to get clear on the payments.
Discounts Always Help!
Trick #3: Offer Discounts on Early Payments
Another trick to getting your customers to pay you on time is motivating them with early payment discounts. Some clients will pay you as per the invoice terms mentioned in your invoice, whereas some clients will get attracted with early discounts and shall pay you before the due date.
Discounts attract everyone, including kids and adults, because there is something to save! How about using an invoice app for iPhone or Android that helps mention the terms and conditions in the invoice, such as early payment discounts?
Forgetting is a Problem for Everyone
Trick #4: Send Timely Reminders
A 2023 survey of past-due customers mentioned that 55% of the late-paying customers want to be reminded one week before the due date. And why not? Reminders are essential because everyone is busy, and your invoice date can be forgotten if they haven’t channeled it in their calendars or payment line-ups.
Check whether your billing software for Mac provides the payment reminder feature. If not, try using a free invoice software for Mac or Windows that offers payment reminders to help your clients pay on time.
Clarity Wins Over Confusion
Trick #5: Draft an Accurate Invoice
Now, here is the extravaganza trick! It is in the hands of your invoice to get you paid or keep you waiting. Wondering how? A perfectly designed invoice leaves no room for confusion, and clarity + accuracy attract the client to get your invoice cleared on time.
To draft an accurate invoice comprising the best format, calculations, and design, it is best to have invoice software for Mac or Windows that helps create perfect-looking invoices in minutes. A perfect invoice doesn’t take hours to create if you have the free invoice software for Mac. So, don’t wait. Let clarity win over confusion by drafting and sending accurate invoices to your clients.
How to Collect Money from Client Format?
To give you a rough idea of a perfect invoice, here is a professional format that helps you with timely customer payments. Generating such an invoice manually or using Google Sheets can take hours. Hence, we recommend using invoice software for Mac or Windows to give you a perfect-looking invoice in minutes. The invoice format below is generated using free invoice software for Mac.
Why Wait? Get Your Customers Paying!
These five proven ticks will get you paying customers in no time. Do not wait or get perplexed on how to collect money from clients who won’t pay; instead, use these tricks and get them on your paying list soon.
Happy Invoicing 😊
