![]() Touch upon invoice details in a polite tone: The first paragraph of your payment reminder should include all of the important details, such as when the amount is due or how far past due it is (if it is a follow-up email). It also makes it easier to discern which invoices are being discussed and the time left before the levy of late payment fees. ![]() Be sure to include your company’s name, address, contact information, and logos for a higher impact.Īdd the invoice number and its due date in the subject line: A clearly worded subject line that involves the major details of the overdue payments is sure to grab a customer’s attention. Write on the company’s letterhead: This goes without saying, but irrespective of whether you are shooting a physical copy of a payment reminder or sending an email for overdue payments, it must be on your company’s letterhead to ensure a formal and professional look. Below, we elaborate on a few tips that you can follow for drafting an overdue payment reminder. To control your cash flow needs and avoid any major hindrance in the development of your company, there is an effective solution.Įquip yourself with a cash flow management software: How to write a payment reminder?įormal outstanding payment reminders serve as the last step before a firm seeks legal action. If the clients fail to honour their payments, stronger payment reminder emails may be in order after every two weeks or so. It is ideal to send a friendly payment reminder two-three days before an invoice becomes due. When to write a payment reminder?Ī payment reminder constitutes a part of a firm’s payment collection cycle. Presently, UK businesses are owed over £23.4 billion in outstanding invoices, with an average SME experiencing late payments to the tune of £147,141.Īt this stage, sending a polite payment reminder email or SMS can do wonders for streamlining a firm’s cash collection cycle. However, owing to several factors, such as price disputes, lack of funds, or deadline misconceptions, clients may falter in their invoice payments. Optimal cash inflows enable companies to meet their daily expenses and pursue growth opportunities. Payment Reminder: A NecessityĪ firm’s long-term financial stability heavily rests upon its ability to collect its cash payments on time. ![]() Sending polite and timely payment reminders to clients can help tide over this issue. Overdue invoices can restrain optimum cash flows, forcing firms to opt for working capital loans to stay afloat. ![]() All small businesses have had to grapple with the problem of chasing after invoice payments at some point in their daily operations. ![]()
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