How to Create a Good Billing Experience for Your Business
A guide to creating a billing experience that helps you get paid on time.
Every business needs to get paid for their services. But what happens when customers don’t pay or when it’s hard to get a hold of your customers who owe you money?
Creating a good billing experience is an essential part of running a business. It’s important to have a billing process that is effective and easy to understand so that you get paid for your services on time. Your customers will also be happier when you make it simple to make payments and your terms are clear.
Clarify terms upfront
It’s important to make sure both parties understand upfront how the invoice will be paid and when. Make sure to clarify your preferred payment method. Will your customers pay with check or Venmo? It’s important to also figure out when the customer will pay. Do they pay at each milestone of the project, or do they pay at the end? Clarifying the payment process upfront will make sure there’s less confusion down the line so that you can get paid on time.
Make paying easy
If you want your customers to pay you on time, you have to make sure that it’s easy for them to do so. Try offering different payment methods so that they can choose what's most convenient for them. Make it easy for them to see their invoice and make payments. It’s frustrating for clients when you send them an invoice and don’t specify how they should pay, or make them jump through a bunch of hoops to get payment to you.
Send clear invoices
Make sure your invoices are clear and easy to understand. The total amount due needs to be evident, and make sure to state what they’re paying for or provide adequate details. Customers appreciate knowing what they are being charged for.
Follow-up with reminders
It’s important to remember that customers sometimes miss an invoice or they have other things going on. A friendly reminder is often appreciated by the customer. Make sure to have a follow-up system or schedule set in place. You may choose to send a reminder before the invoice is due, and several times after.
Sometimes you’ll have to follow up more than once, so it’s important to figure out a schedule in which you’d like to remind them. Of course at some point, if customers are not paying, you may need to take further action. But make sure that you have a schedule set in place so that you’re sending them reminders and on their radar.
The billing aspect of running a business is definitely not the most exciting part of the business, but it’s also important to make sure you’re getting paid for your services and that you’re providing a good experience for your clients. A good billing experience will save a lot of headaches for you and your client down the line. Your clients will be happier knowing exactly what they're paying for and being able to easily process payment.
