Send Statements Out! It is really a simple and easy idea and helps credit control.
Using a Cloud Accounting package like Xero means you can email them as often as you want. Why not email them 3 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. If you do not know how to send statements out from within Xero then watch our video here or on YouTube.
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 2 with one half becoming a remittance advice – also if the writing is too small it will not be read!