![]() ![]() For instance, an important part of the assessment stage is obtaining a credit check for the client, but this isn’t a main feature of the apps.ĭebtorDaddy and uCollect don’t offer any credit check services, whilst ChaserHQ only offers it for UK-based clients, and ez圜ollect offers it at an additional cost to your plan. You can read more about the stages of credit management here, but it generally falls into three broad categories:ĭebtorDaddy, ChaserHQ, uCollect, and ez圜ollect primarily deal with the management and enforcement aspects of the process. It’s worth looking at how these apps compare to each other so you can find the best one for you. Yet for achieving ultimately the same purpose, these apps each have their own features and pricing that will influence which one works best for different businesses.ĭebtorDaddy, ChaserHQ, uCollect, and ez圜ollect are just four of the many apps that integrate with Xero (amongst other software like MYOB and QuickBooks Online). If you take a look at Xero’s app store you can see just how many are on the market. The awkward phone calls chasing up late payments, the back-and-forth emails and reminders that disrupt your workflow, and – of course – the ageing invoices filling up your accounts receivable as you wait to get paid.Ĭountless credit management and collection apps have stepped up to automate and streamline the process. If this happens and then you send the invoice to collections, your collection agent will have a much harder time collecting the original amount owed.Poof and Mentor Education is gone – Oops, page not found, then Inspire Education Type Message - /irI2iYĪbout 3 months ago from Steve Slisar's Twitter via MailchimpĬredit management and collection is the important part of business that can easily become problematic. All too often the discount is extended in a way where it can’t be retracted even if they default. We discourage clients from agreeing to discount invoices. Depending on the client, the amount owed, and the reason, you may decide to give the client more time to pay the invoice or a payment agreement. Once you talk to someone in charge on the phone, you should have a better idea of why the invoice isn’t being paid and how you should proceed. The request can be phrased as a favor to the contact, “I know the bill isn’t your fault, and you probably don’t want to deal with my phone calls, so why don’t I speak to accounting directly?” If not, ask your contact to put you in touch with someone who can help. Hopefully, before you began work with the client you had them fill out a credit application, which included phone numbers for people in accounts payable and leadership. If your contact at the client’s office is not responding, or cannot provide a reason as to why the invoice hasn’t been paid, move up the chain of command. Phone calls can often be more effective at finding out why the invoice isn’t being paid. Emails are great for creating a paper trail. You’ll want to communicate using more than one method. It’s important that you be polite, but firm in any communication. The email can be followed up by a phone call a week after the due date. If you let due dates pass without comment, clients will assume they don’t matter to you. When an invoice is even a day late, send a politely worded email reminding the customer of the due date. Having clear terms, both for deliverables and payments, in your contracts can also help avoid confusion and late payments. If your business runs on auto-renewals, send out notices in a timely manner. Use an invoicing system that allows you to send invoices promptly and allows people to pay in a variety of ways (electronically, by credit card, by check, etc.). Another way to ensure that your invoices get paid is to make it easy for companies to pay you. Although nothing is foolproof, taking basic steps, such as checking emails, websites, and phone numbers to confirm that a business is real and having new clients fill out a credit application can prevent you from working for companies that can’t, or won’t, pay. ![]() The best way to handle unpaid invoices is to avoid them in the first place. These three methods will help you streamline the collections process, making it much less annoying in the process. Unpaid invoices can be a huge drain on your time, energy and cashflow, putting your company at risk. ![]() To make it a much less annoying process to collect, try these three strategies to get your billing back on track. I’m going to take a wild stab in the dark and assume that you did not start your business because you were excited about the idea of chasing down unpaid invoices. ![]()
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