In the United States, an estimated 39% of invoices are paid past their initial due date. Furthermore, an attempt to collect late payments from your clients can be a daunting task. So even though some business owners feel rude asking; you have to remember that you are always entitled to receive compensation in exchange for the work that you have done - and don’t you forget it! When going through the tedious process of chasing down late payments, I bet this thought has crossed your mind at least a few times: “There has to be a way to make this easier, faster, and less painful!”
Fortunately there is! Check out these five email templates designed to make collecting invoices that much easier:
-Template 1-
Subject: Account Alert
This is a friendly reminder that your invoice is now #___ of days overdue.
We understand that these things can get overlooked sometimes but would appreciate prompt payment of $____ amount. Could you please let us know when we can expect payment? If you have already paid, please disregard this message.
As always, if you have any questions please feel free to contact us by responding to this email or calling at (insert phone number). Thanks in advance for your cooperation.
Best regards,
(Insert Name)
(Insert position title)
-Template 2-
Subject: Payment Overdue
Hope that you are having a great week. Just wanted to touch base with you about the outstanding balance you currently have with us of $_____ from invoice #______.
A friendly reminder that per our agreement/contract, a late fee of $___ will be implemented to your bill after XX days past your invoice due date.
If you have any questions, please let us know and we would be happy to answer them.
Thank you for your promptness,
(Insert name)
(Insert position title)
-Template 3-
Subject: Important: Overdue Payment
For your convenience, I wanted to send you a quick reminder regarding your invoice #_____ with an outstanding balance of $______, and remind you that a late fee is $____ is applied after XX days past the invoice due date.
We would appreciate if you could give us an update regarding the payment of this invoice. If you have any questions or concerns, please feel free to reach out to us by email or phone.
Thank you in advance for your concern to this matter.
Best regards,
(Insert name)
(Insert position title)
-Template 4-
Subject: Updated Account Balance
Just checking in to see that status of invoice #_____? As a small business we rely on these types of payments in order to keep our business going for services like the ones you received therefore you understand the severity of this payment.
To update us on your payment schedule please feel free to respond to this email or call us at (insert phone number). If you have already paid your invoice; we thank you and please disregard this message.
Looking forward to hearing from you,
(Insert name)
(Insert position title)
-Template 5-
Subject: Unpaid Invoice #_____
Just sending you a quick reminder that I am very disappointed that your invoice is severely overdue. From my point of view, it is now less about the money aspect of the situation and more about the blatant disrespect.
I value your business however if this payment continues to be late I am going to have to think twice about working with you again. It is not the fact that I don’t want to, I do. But if I don’t receive this payment within the next couple of days I will have no choice.
Kind regards,
(Insert name)
(Insert position title)
It’s great to have resources like these email scripts. But at the end of the day, manually tracking down late invoices results in lost time and money. Implementing online invoicing to your business with Payroc can give you and your clients the convenience of recurring billing, automated notifications for past-due invoices, and the inclusion of late fees on overdue payments. Not only that, but you have the luxury of keeping all of your payments and client info in one place. Plus, with features like time tracking, you’ll never miss a cent of the money you’re owed.
Interested in optimizing your business? Get started below!