As you probably know all too well, not all customers pay their invoices on time. And when they do start dragging their heels, you need to start applying the pressure. Adding costs to a payment reminder helps to get your invoices settled faster by automatically giving late payers the nudge they need. It saves time and trouble, because you don’t have to follow up by phone or write a friendly (but firm) email. And it can also save money, getting cash into your account more quickly where it can start earning interest or save you going overdrawn.
Add costs to your reminder lay-out
Printing reminders in Exact Online now automatically offers the option to add costs for late payment. First, specify how many days late the outstanding invoice should be before costs are added. Then select the kind of cost to charge:
- A fixed sum administration fee
- A percentage of the outstanding amount
Keep that cash flowing!
If you have any feedback on this upcoming innovation just place a comment on this blog or send an e-mail directly to Judith van Wissen (Judith.firstname.lastname@example.org).