The expectation is that you should be paid as agreed to in the terms. Since that’s not always the case there are steps you can take to stack the odds in your favor.
Today’s debt collection tip is one that we suggest many of our clients incorporate in their collection policy: communicate with your customer before the due date.
A suggestion is to email all supporting documents to the person in charge of processing the payable at least 5 days before payment is due. Documentation should include (if applicable):
- purchase orders,
- work orders,
- signed work tickets,
- invoices,
- other documents required by the customer to process the invoice.
Follow up 3 days prior to the “due date” to make sure the person in charge of paying the receivable received all the documents. Insuring your customer has everything they need so that payment can be made.
Most debt collection policies we design include these two steps. These pre-emptive steps will prevent some late or unpaid invoices.
If you have any questions relating to a claim or debt collection policy, please contact us at (212) 686-0100 or email Jocelyn directly at JNager@ffgnesqs.com.
