Managing Your Payments From Clients

Has anyone had trouble with a client who hasn’t paid you for your work? Do you think you would be able to handle the situation even though it has never happened to you? This problem is more common than most think. One of the difficult aspects of being a freelancer is making sure that your clients are paying you on time!

It may seem easy, many good designers and developers don’t know how to organize a payment plan or how to face these problems that could arise with these clients. Here are some tips to follow by on deciding the payment terms and how to manage all the payment process once you have sent the client the invoice.

Setting Up The Payment Terms: First thing you need to do is by making sure your payment terms are very clear. Payments are not all the same, they could differ between the due dates, and for the transaction method you choose. Take a look at the small list of different aspects you might have to take into consideration when setting up the best payment. 

Due Date For PaymentsWhen creating the proposal or invoice you must think about the due date before hand.

  • First when writing up a proposal or invoice, you have to think about the how much money is being spent for you to create this. You need to give your clients time to pay you. There is not a fixed value for enough time but at least 30 days is the best starting point.
  • If say the project you are working on has to be paid for is a small one, you can opt for the due upon receipt payment choice. This means that the client has to pay you as soon as they receive the documentations.

Method Of Payment: There are many different ways you are able to get paid from your clients. Here are the most common and safe ways to get paid.

  • Checks are the main method for payment, but this is not the fastest one. You will have to wait until the check arrives in your mail before you can cash it in.
  • Online payment services are easy and faster to use, such as PayPal, Google Wallet, or through you bank account it self. This way your able to set up automatic payments for the days your bills are due and it will automatically take it directly from your account.
  • Wire transfer is another method, it’s a quick way to get paid but again you will have to share some information like your bank account number with that client. That’s another reason why many don’t like sharing their personal information with clients. That’s why if you go with setting up the payments through your bank, all you need is the address of that company, account number, due date and amount your sending.
  • Last choice would be using a debit or credit card; all you need is to give the merchant your information (numbers on the front of your card, expiration date, and security code) when you are ready to give them the money.

As you can notice there are many different ways you can use for payment methods. The most important thing is that whatever method you choose you must provide all the necessary information for your clients to pay you. The more precise you are, you’ll have a better chance at getting through the whole process quicker so you get paid.

Confirming Terms With Your Clients: Once you have sent your invoice to your client give it about 2-3 days and make sure the document has been received and opened. A common problem is that many clients will receive this invoice and put it aside until the actual due date. There for the payment could be delayed.

By keeping things up to date and in order, you can contact that client by phone or email and see if things are going all right and if they had any questions or concerns about the invoice.

Watching Out For Payments: Once you’ve made sure the invoice had no problems, now you have to wait for the payment to show up in your bank account. If for some reason you do not receive the payment within the agreed time, you need to immediately contact that client, though an email letting them know they are late on the payment.

When you manage payments it’s never an easy task but there are tips that can help you. It’s very important that you have to show firm behavior with the client but at the same time avoid being rude. For more information about how to manage your payments for your clients contact Windy City Web Designs!

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