Comments on: How to get your customers or clients to pay up http://businessblogs.co.nz/2009/09/24/how-to-get-your-customers-or-clients-to-pay-up/ BusinessBlogs Home Base Blog Mon, 26 Jul 2010 22:37:00 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Ed Primeau http://businessblogs.co.nz/2009/09/24/how-to-get-your-customers-or-clients-to-pay-up/comment-page-1/#comment-2073 Ed Primeau Sat, 31 Oct 2009 03:27:48 +0000 http://businessblogs.co.nz/?p=1391#comment-2073 However, I understand the circumstances you point out in your post, which is great conversation topic. Thank you! However, I understand the circumstances you point out in your post, which is great conversation topic. Thank you!

]]> By: Ed Primeau http://businessblogs.co.nz/2009/09/24/how-to-get-your-customers-or-clients-to-pay-up/comment-page-1/#comment-2072 Ed Primeau Sat, 31 Oct 2009 03:24:23 +0000 http://businessblogs.co.nz/?p=1391#comment-2072 We have always asked for a 50% deposit up front with the balance due on delivery. Sometimes we alter our terms and regret the result. Great topic for conversation! Ed We have always asked for a 50% deposit up front with the balance due on delivery. Sometimes we alter our terms and regret the result. Great topic for conversation!
Ed

]]> By: Mark Gwilliam http://businessblogs.co.nz/2009/09/24/how-to-get-your-customers-or-clients-to-pay-up/comment-page-1/#comment-1318 Mark Gwilliam Sat, 03 Oct 2009 04:34:13 +0000 http://businessblogs.co.nz/?p=1391#comment-1318 Thanks for a great post. I'll take a slightly different angle as I agree with previous comments. Chasing money is becoming a bit of a trend recently! I think it's important to consider the whole process. At Business Advisory Accounting & Tax Services, we post our terms and conditions on our website and refer our clients to them when they sign up with us - either via an engagement letter or via an authority to act form. If (did I say if?) our clients default, we then have a choice of the action we will take. Obviously, we have a system in place ('phone calls; statements; emails; etc) to chase them. We ALWAYS put a summary of our T&Cs on our invoices so that our regular clients (those we do GST and cash books for) can't plead ignorance. Our terms are 7 days and we remind our clients that we provide a service in good faith. Restaurants; GPs, dentists, motor mechanics, etc ask for payment immediately the service has been rendered - I think as professionals, we should be extended the same courtesy. Thanks for a great post. I’ll take a slightly different angle as I agree with previous comments.

Chasing money is becoming a bit of a trend recently! I think it’s important to consider the whole process. At Business Advisory Accounting & Tax Services, we post our terms and conditions on our website and refer our clients to them when they sign up with us – either via an engagement letter or via an authority to act form.

If (did I say if?) our clients default, we then have a choice of the action we will take. Obviously, we have a system in place (’phone calls; statements; emails; etc) to chase them. We ALWAYS put a summary of our T&Cs on our invoices so that our regular clients (those we do GST and cash books for) can’t plead ignorance.

Our terms are 7 days and we remind our clients that we provide a service in good faith. Restaurants; GPs, dentists, motor mechanics, etc ask for payment immediately the service has been rendered – I think as professionals, we should be extended the same courtesy.

]]> By: Sheldon (Marketing Consultant, Tauranga) http://businessblogs.co.nz/2009/09/24/how-to-get-your-customers-or-clients-to-pay-up/comment-page-1/#comment-1203 Sheldon (Marketing Consultant, Tauranga) Wed, 30 Sep 2009 00:26:58 +0000 http://businessblogs.co.nz/?p=1391#comment-1203 Great article Michael, and great idea Jeff - that is so true about sending the wrong message! Great article Michael, and great idea Jeff – that is so true about sending the wrong message!

]]> By: Jeff Smith http://businessblogs.co.nz/2009/09/24/how-to-get-your-customers-or-clients-to-pay-up/comment-page-1/#comment-1075 Jeff Smith Fri, 25 Sep 2009 08:40:46 +0000 http://businessblogs.co.nz/?p=1391#comment-1075 Excellent Post.If you have to offer accounts I advise all my clients to change their statements as follolws. Most statements I receive have a series of number s at the bottom of them that goes something like this Current – 30 days – 60- days – 90 days Surely this is sending a wrong message to your customers. It’s ok to take 90 days to pay? If you can( and regardless of your terms of trade) change this to read Paid cash – 1 day – 3 days – 7DAYS This sends a message that we are ‘urgently awaiting your payment’ right from the start Excellent Post.If you have to offer accounts I advise all my clients to change their statements as follolws.

Most statements I receive have a series of number s at the bottom of them that goes something like this

Current – 30 days – 60- days – 90 days

Surely this is sending a wrong message to your customers. It’s ok to take 90 days to pay?

If you can( and regardless of your terms of trade) change this to read

Paid cash – 1 day – 3 days – 7DAYS

This sends a message that we are ‘urgently awaiting your payment’ right from the start

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