Guide
How to get customers to pay you faster
Every day a customer takes to pay is a day your money funds their business instead of yours. Most late payment is not refusal: it is invoices that were unclear, unsent or unchased.
Seven steps that work
- Invoice the day the work is done, not at month-end
- Put the due date, the amount and how to pay at the top of every invoice
- Agree payment terms before the work starts, in writing
- Make paying easy: a payment link or card option on the invoice
- Send a friendly reminder a few days before the due date
- Chase on the day it is overdue, then weekly, always politely and in writing
- For repeat late payers, ask for a deposit or shorter terms on the next job
What faster payment is worth
Work out your daily sales: monthly sales divided by 30. If customers paid you 10 days sooner, that many days of sales would be released once, as cash. A business selling 60,000 a month frees about 20,000 by getting paid 10 days faster, without selling anything extra.
Know who owes you, and since when
A list of overdue invoices by customer, oldest first, is the single most useful collections tool. Big4CFO lists them every month with a ready-to-send reminder for each; you send it, and nobody is contacted on your behalf.
Have it worked out on your own figures
Big4CFO checks your books to the cent and produces this every month, from your own records. One-time reports cost $49 (one month), $99 (three months) or $199 (twelve months). Monthly plans start at $349 a month (Foundational), with Growth at $599, Leverage at $899 and Capital Stack at $1,999.
Questions
- Should I charge late-payment fees?
- Check your contracts and local rules first. Many businesses find a clear due date and prompt, polite chasing works better than fees, which can sour a good customer relationship.
See it on your own figures
One-time reports from $49, delivered within minutes. Monthly plans from $349. Every payment carries a 14-day money-back guarantee.