10/18/2023 0 Comments Checking outstanding invoicesYou’re legally entitled to issue statutory interest rates the day the payment is late if you haven’t already agreed when the money will be paid with a customer. You can continue to send these as often as you feel necessary. If another week of silence goes by and you have no further information about when or even if you are going to get paid, issue a final warning letter stating that there will be penalties if payment isn’t made imminently. If you have tried to reach out to the customer and they have either not responded or promised you payment by a future date, you can send a formal reminder either straight away if you’ve had no response or on the date, they said they would pay if the funds still have not reached youĪ formal reminder can be sent via email or letter and can act as evidence that you have tried to contact the customer for payment and warned them of the potential consequences if they still withhold payment. Reach out to your customer and see if you can agree on payment for the outstanding invoice before taking things further. Many people assume the worst when they are late being paid, but that may not be the case. There may be a genuine reason as to why the unpaid invoice is still outstanding due to personal situations or circumstances out of their control. So if you’ve sent an invoice that is now past due it has become a late, outstanding payment here are 3 key steps to take when dealing with an unpaid invoice:įirstly, always touch base with your customer and ask them (in a nice way) if they are having trouble paying the invoice.
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