Do you send your customers a statement of account? It really is a simple idea and helps credit control.
Using a Cloud Accounting package like Xero means you can email your statements as often as you want. We email ours three times a month: on the 10th, 20th and the last day of the month. We choose which debtors to send them to and it is amazing how often payment is received within a few hours of the statements being sent out.
With modern technology sending statements really is easy and very efficient – a few clicks and they are emailed out to your customers.
Keep the statement simple by listing all the outstanding transactions. There is no need to show all the movement for a month. As businesses rarely send out cheques there seems little point having a statement that can be split into two to become a remittance advice – if the writing is too small it will not be read!