Receivables?

Anyone have a good ideas how to keep your clients paying ontime? Most of my clients are good about paying their invoices prior to their due date, but I have a few that still seem to take their time.

I've tried late fees, but got some push back and in today's market....sometimes we don't have the luxury of picking our clients.

Any thoughts?

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Permalink Reply by Don Franklin on August 22, 2008 at 1:10pm: Peter,
I have some great solutions for this exact problem. Let's talk!; ▶ Reply to This

Permalink Reply by AdPropel on December 31, 2008 at 4:11pm: I have always been a fan of the three strikes rule. Three late payments, and you are out. It really boils down to your time. Is it really worth your time getting these customers to cough up? You are providing a quality service to them ON TIME. You have a responsibility to the client as a business owner, but they also have a responsibility to you as a client, and that is to pay their bills ON TIME.

I am sure you prepare contracts for some of your work. I would just include a late fee charge within the contract. If they push back, they will have to explain it to a judge, and the law always wins. These economic times call for businesses to be frugal, but cheating other businesses is just bad form. I gurantee you a business that runs like that will not be around very long.; ▶ Reply to This

Permalink Reply by Debra Alexander on January 3, 2009 at 7:59am: How about automatic payments from their credit cards?; ▶ Reply to This

Permalink Reply by Jeff Cadwell on January 29, 2009 at 6:33am: This is a GREAT IDEA!; ▶ Reply to This

Permalink Reply by Gabriel Avalos on May 28, 2009 at 6:06pm: Hi Peter,

It may be neccessary to bring out the big guns :)

Take a look at this video, I think you will enjoy it... www.PlanB03.com

I welcome your feedback! :)

Gabe; ▶ Reply to This

Permalink Reply by Farrell Dyan on July 11, 2009 at 5:51pm: I have a credit authorization form for automatic payment, that I can share. When I was the Retention Manager at the Stockton Record, we did a phone call from 4pm-8pm with an offer to put them on monthly automatic payment, followed up with a letter and an envelope. It worked really well.; ▶ Reply to This