Not paying for a good or a service on time can happen to everyone. Sometimes it is an oversight not attributable to a deliberate choice of the debtor who, informed unofficially, immediately pays the amount due.
However, informal contacts may prove unsuccessful and force a business owner to take further action. In these cases, sending a payment reminder facilitates the timely collection of missing credits.
To properly manage this aspect of accounting, it is essential to use the right tools and use them correctly. L’obtaining their own entitlements it will become simpler and will contribute to the containment of the criticalities due to shortfalls on revenues.
Unpaid invoices, when the problem starts from internal accounting
Not always the issue of payment reminder it is the consequence of incorrect behavior or a bad reputation of the customer. Opportunities to research debt situations make it easy to overcome this limit. All this before concluding an agreement and reducing the risks of insolvency, even for the installments.
There are, therefore, other reasons why the balance of the sums is delayed or is not accounted for, to be found in an inadequate recording of the practices. One of the most common drawbacks is related to the use of manual methods for invoicing, which frequently lead to an incorrect or incomplete compilation of the forms.
In this perspective, theinstallation of efficient programs it becomes a necessity, even in the context of payment requests and contractual breaches. Obviously, it must be accompanied by accurate and regular checks on its database, to monitor any system anomalies and verify the legitimacy of each complaint.
The data to be entered in the payment requests
Regardless of the tone, each letter of payment reminder must contain information essential to the identification of the buyer, the creditor and the amount to be paid:
• personal data of the customer and of the owner of the amount
• invoice code with relative date and expiry date
• share to be paid
• credit methods offered to the debtor
• Bank account details.
Generally, before resorting to a lawyer, a maximum of three mailings are sent, by registered letter with return receipt or certified mail, provided that the confirmation of receipt is entered.
The management of unpaid notices through software
The methods of processing and drafting documents have changed in every sector: even the compilation of the payment reminder goes through digital devices. The files thus obtained do not require printing, do not clutter the shelves and take up very little space in the memory of a PC or hard-disk.
Almost all programs contain advanced tools for management of outstanding receipts and reminders. Their use is intuitive and allows quick and precise searches, by setting filters. In addition to allowing the inclusion of buyer data in the registry, it is possible to make use of some features, including:
• confirmation of receipt of letters
• reminder of shipments already made
• space for other unpaid invoices
• automatic transmission mode
• selection by period, name or invoice number
• printing for shipments with registered A / R
• alerts for payments overdue or close to the deadline
• choice between pre-filled or customizable templates
• change of language.
To get a complete picture of revenue, it will take a few clicks and a few seconds. In a simple and fast way, such a system will contribute to the timely recovery of credits, avoiding the closure of your business.
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