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Well said Glan, but I have less patience for some customers. If I have a customer that is constantly late payers, and reasoning with them does not work, FIRE them. They can promise all they want, but at the end of the day, they think they have the right to pay you late and will take advantage of you when they see fit. Do you really want to deal with someone like that? You could raise their rate, but that just means that you will have more money sitting in A/R when they don't pay. I have had many late payments....the first couple times it happens we will just send them friendly reminders. If they are late over 4 times in a season, they go on the LIST for next year. They will either not get a renewal, or we send them a letter stating due to past payment history, their account will be frozen if payment is over 15 days past due and no work will be done.
No matter what you do, make sure you have it in your Terms and Conditions attached to your contract. You can't just make up rules when you feel like it, without having the customers agree to it. JMO
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Matt
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