Freelancers: Go from Overdue to Paid in Full
By Ashlyn Rochester, ACN Communications Specialist
Late payments are something every business and freelancer has unfortunate experiences with, and it’s more common than you think. One study found that late payments cost the global economy over $40 billion yearly, and COVID increased late payments and insolvencies doubled. Here are some tips to make sure you’re paid in full immediately.
1. Talk numbers in the beginning.
Before starting the project, make sure deadlines and payment are clear. Are you getting paid in full after the project is complete? Are you getting a deposit before completing the work and then receiving the rest of the payment? How long until the project is complete before the payment is counted as late? If you’re sending your invoice to a company, ask to send your invoices directly to the accountment department. It might be helpful to include the purchase order number to show the company committed to the price.
2. Follow up politely and quickly.
Once the payment due date passes, send a short email a few days later as a polite reminder. Attach the unpaid invoice to your email for them to review.
3. Resend the invoice.
If you didn’t hear back from the reminder email, the next step is to resend the invoice. If you’re using software to manage your invoices, there might be a feature that lets you schedule the resend. If you’re not utilizing software with that feature, make a note in your calendar. Gmail has the option to hit snooze on an email so it will show up in your inbox again in a few days.
4. Add more payment options.
Make paying easy when you have several payment options. While it might cost you a little to utilize a payment system that doesn’t have processing fees, it’s better to pay that cost than not get paid at all. If you have other ways of receiving payment, mention it in your follow-up emails to the client. This might entice them to make the payment right away if they know they can submit payments without processing fees.
With these tips, you’ll be getting paid in full every time! Did you know Ag Communicators Network has a special freelancer group? If you’re interested in connecting with other freelancers, contact Executive Director, Samantha, at [email protected].