Want to get your invoices paid faster?

 Invoices that are not paid (on time) cost you money. Money that you have worked so hard for as a freelancer. In practice, it appears that 50% of all invoices are paid late, with the average payment term being more than 70 days. More than half of companies even send a reminder after 60 days. All these facts ensure that you as an entrepreneur run debtor risk. In many cases this is unnecessary and you can influence this positively yourself.

Make good agreements in advance

Careful debtor management actually starts in the quotation phase. Make sure you know who you are dealing with. For example, request your customer's details from the Chamber of Commerce . In addition, it is wise to check the creditworthiness of your new customer in advance with a credit reference agency.


In addition, make sure that you set a good example yourself. Send your quotes and order confirmation on time. Answer questions quickly and professionally. In this way you let them know that you are not letting things run their course, and this gives you a good basis for careful debtor management.


Provide a clear invoice

When you send a clear invoice yourself, you avoid unnecessary questions or ambiguities with your customer, which can cause a delay in payment. For example, note the following points:

  1. Provide a clear specification of the invoice. For example, give a clear description of the specific products / services provided instead of just an item number.
  2. Many invoices only indicate the payment term of, for example, 14 days. Add the exact date of final payment here.
  3. Make sure that debtors can recognize the total amount at a glance. This way you prevent the amount being transferred without VAT.
  4. When you send your invoices digitally, the turnaround time is many times faster and the chance of a faster payment is also greater. In addition, online invoice programs in many cases already ensure that your invoice meets the requirements.

Explore our invoice crm software

Remind in steps

When you have your debtor management in order, you have direct insight into outstanding invoices and you can also send your payment reminder on time. In order not to disrupt the relationship with the customer, you can choose to contact us by phone first. If the invoice is still not paid, then immediately send a business reminder containing the invoice number, invoice date and payment due date.


If the customer still does not pay, you send the customer a reminder. It is advisable to send this summons by registered mail, so that you prevent the customer from indicating that he has not received this reminder. You can also charge statutory interest. A debtor is obliged to pay statutory interest after exceeding the payment term. The amount of this statutory interest is adjusted every six months.


Reclaim VAT

If your customer will most likely no longer pay the invoice, for example if the customer has been declared bankrupt, you can submit a request to the tax authorities for a refund of the VAT that you have already paid for these customers. This request must be submitted immediately after the annual accounts have been adopted, whereby you also submit documentary evidence of the irrecoverability of the claim. In many cases, a curator is required for this.


TIP With an online accounting program you can be sure that your invoice meets all the rules, you have insight into outstanding invoices at all times and your payment reminders are sent out on time. Below we have already selected 5 packages that help you to get a grip on your accounts.

Comments

Post a Comment

Popular posts from this blog

quote management system

Image
Quotation Management software helps you to create customized professional quotations for every salesperson on your team. A quote management system involves creating and managing your business’ quotes for clients. A quote management system good quotation management software empowers salespersons to quickly create accurate quotes. With Orgzit’s quote management system, your sales team can create beautiful & professional PDF quotes in a matter of minutes. The Quote Management Software by Orgzit combines both an intuitive user experience with a robust integrated platform serving the needs of businesses of all sizes. We at Orgzit know that every business has its unique processing of gathering quotation information and approving the quotes -- these business rules can be easily implemented in Orgzit’s quotation solution. Sometimes, you just have too many products in your catalog. However experienced you may be, mistakes do happen and a customer ends up having a wrong combination of produ...
Read more

WHY IS GOOD LEAD MANAGEMENT SYSTEM SO IMPORTANT?

Image
 For organizations, having a well-functioning system management is becoming increasingly important. Because a large part of the work is performed with computers, the system must also work properly. Think about the consequences a poorly functioning system has for internal activities, but also for external parties such as your customers. The majority of SMEs in the Netherlands are not able to handle system management themselves. There is always the option to engage an Orgzit company in San Jose for lead management system . ALWAYS EASILY ACCESSIBLE An Orgzit company can ensure that the system of an organization is well maintained and can manage all systems. This means that your organization will always be reachable. All employees can then use, among other things, a well-functioning computer and telephone. As a result, your organization is always easily accessible for current customers, potential customers and possible partners. Being always good and quickly accessible is nowadays a mu...
Read more

Best Name Brand Invoice Software

Image
If you have a business, you’ve heard of QuickBooks. They’re considered by many to be the crm with invoicing gold standard in accounting software. QuickBooks Online is way more than simply invoice software, and that’s their biggest strength. With QuickBooks Online, your invoices and payments are automatically connected to your accounting tools.  When a customer pays an invoice, it’s instantly recorded in your bookkeeping. And instantly included in your reporting dashboard, letting you peek in on cash flow, profit & loss, and other financial data. Ok, so you’ve outgrown spreadsheets and word docs. Couldn’t you just use an invoice template? That might make it a little faster but would still require you to manually enter data each time. Invoice software stores your business data, so you can generate invoices in a matter of seconds. But invoicing software is about more than just sending out a bill. It can also help your contractors track hours and inventory. Connect sales and...
Read more