Now that you’re well-versed in electronic invoicing 101, let’s look into some of the deeper functionality that will help your business be more efficient. One of the main goals behind implementing electronic invoicing is to minimize back-and-forth between you and your customers. The following features can help you succeed:
- Incent (or penalize) early and late payments. Why not encourage good behavior to increase your cash flow? You can set up a discount for early payments or assess a fee for late payments, and the system will do the calculating for you.
- Customize your Terms of Sale so that you can use the first Invoice as a recurring payment authorization for future payments to your business. It saves time and keeps you in compliance!
- Use attachments to share news about your business. You can attach fliers, contracts, newsletters, etc. to your invoices so that you can better stay in touch with your customers without over-emailing them.
- Send a reminder for overdue invoices to your customers. To avoid tracking down late payments, you can set up your PaySimple account so that it sends automatic email reminders to customers with overdue payments (for more info on email templates, go here).
An email address and some easy customer contact information is all you need to get started with electronic invoicing, so log in and send your first invoice today! For more details, click here to view the electronic invoicing section of your user guide.