Invoicing as part of the computer consulting business is a very detail-oriented process that requires regular attention. If you follow these invoicing procedures you can remain efficient and avoid losing money.
1. When invoicing for the prior week and the present week simultaneously, include an account statement to clearly outline a client’s overdue balance.
2. If you are sending an overdue notice during the invoicing process, stamp it “Past Due” to help increase the likelihood of payment.
3. Make a phone call if a payment is a week or more overdue. The client will most likely offer an apology and an excuse and then send the check out immediately. Steady clients will know exactly why you are calling.
4. Put specific due dates on invoicing materials instead of simply putting the number of days until the invoice is past due.
5. Put payment terms and late fees on all invoicing materials and then restate late payment fees at the bottom of the statement. For example, write something along the lines of that payments received x number of days late will be subject to a late fee of x amount. You don’t necessarily need to enforce this rule, but it will help prevent late payments.
6. Send your invoices out even if your client is going through financially hard times. You are not a bank, and a good client will have the courtesy to pay you first.
Added By: Computer Consulting 101 Professional Kit