A best practice for sending invoices and payment reminders is to be consistent. If your clients are on Net 30 payment terms, for example, a consistent tactic for getting paid is to send the invoice on the same date of the month. If the client is new or if the payment terms are longer, a payment reminder could be sent on or just before payment is due. If the payment is still pending past the due date, use this payment reminder template to gently nudge your client to pay.
The payment reminder template includes an example of the language required when sending a letter via US Mail or via email. The template includes a place for your address, the person responsible for payment (usually in accounts payable at your client's office), information that should be included, and how your client can contact you for payment.
This sample template is a good first reminder of late payment. It can also be used again for later reminders in parallel with attempts to contact via phone. After a set period of time with non-payment, usually 45- 60 days, it may be time to escalate the account to a third-party collections agency.
To learn more information about third-party collections practices, or to request a quote, click the green button below. Enterprise Recovery specifically works with business debt and can help protect your business relationship and brand while we work to get your clients to pay.