Preliminary Notices
As any business owner knows, collecting payments from a client is the number one process to have in place. Because payments are the life line of any business, it is important to have a strategy in place for payment collection.
Unfortunately, for one reason or another, payments from clients can be late, or worse, they don’t come at all. In these unlikely situations it may be necessary to start the process of issuing preliminary notices to these clients. Usually once the notice is issued, the payment will be forthcoming.
Businesses who might have to spend hundreds, or even thousands, of dollars to try to collect payments may be will to accept a payment plan to recover the money that is owed to them.
For businesses, and consumers alike, having a open line of communication around payments may help to erase any potential billing and invoicing issues. By being clear on the terms of payment, and on the due date, a business will experience less late payments and unpaid invoices.
