Smart Billing
Design your invoice to prompt faster payment.
The best time to bill customers is as soon as it'spractically possible. Service providers can bill clients the daythe service is completed-or sooner if you incur substantialexpenses along the way. If you send products to customers, includethe invoice with the shipment.
Make sure your invoice is professionally designed, with the word"invoice" clearly printed across the top. Yourcompany's name, address and phone number should also beprominent.
Send the invoice to the person responsible for remittingpayment. Your invoice should describe the product or serviceprovided, specify the exact charges, state the total amount due andidentify the person who placed the order.
To speed payment, state "payment due upon receipt" onyour form. A really smart way to speed the process is to offer adiscount if the bill is paid within 10 days.
Excerpted from Get Smart: 365 Tips To Boost Your EntrepreneurialIQ
