How To Invoice Clients During A Global Pandemic
As accountants, we here at Hurley Accountancy are aware that it’s not easy to ask clients for payment at the moment, but it is important to keep cash flowing into your business so you can cover expenses and ensure your business runs as normal. The best advice our team at Hurley Accountancy can offer right now is to have a little empathy and a lot of open communication, this can go a long way in ensuring payment.
We have put some useful tips together that might be useful to keep in mind when you are asking clients for payment.
Communication – Connecting with your clients is vital. Try sending a personalized billing email rather than a one-size-fits-all template that most companies send. Showing empathy and understanding that their company may be struggling at the moment shows that you are invested in their business and that you value them and are conscious of the impacts that the current situation may be having on them. The empathy you show now will also be remembered when business returns to normal post-Covid.
Add value – Use your expertise to give something back. You have built a relationship with your clients and keeping them happy and showing your gratitude for their business will help maintain business. It could be as simple as letting customers know you want to help and being open to requests, offering a one-off discount or an offer just to chat one to one.
Offer flexible payment options – For customers who can’t pay in full, consider breaking invoices into multiple payments with payment terms moved over time rather than one full payment. Set up a credit card facility to give customers other options for payment. After all, the easier you can make it for them to pay you, the quicker you will get paid. Offering a discount for early payment might provide the incentive for customers who can settle, to pay your invoice before others.
Hurley Accountancy understands that although the end of the pandemic is in sight, some companies are still struggling and invoicing clients may lead to tricky conversations but we believe that communication is key and having an ongoing dialogue with your clients is the best practice.
If you would like to discuss your business needs. Call Hurley Accountancy Ltd on 0238849722 or email imelda@hurleyaccountancy.com
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