Billing your clients can be a messy task if you don’t have a system to keep track of services rendered. This list has eight ideas to help you maintain a steady, smooth, and accurate payment system.
1. Develop a billing cycle
Instead of sending invoices every time you do work for your client, provide them with the amount due. Then stick to the billing cycle. Create a cycle that repeats every month, and your clients will get used to the set due dates for payments.
2. Accept credit cards
By accepting credit cards, you can shave up to ten days off your billing cycle. Plus, the funds are electronically deposited into your trust or operations account right away. You no longer need to worry when the check will arrive by the mail.
3. Use an online client portal
For many people, the biggest deterrent to making payments online is needing to enter personal information — like credit card numbers — every time they login to an account. Using an online client portal lets users securely store their data, and it keeps law firms in compliance with ABA regulations.
When clients login to their accounts, they can see what they’re paying for. They can also see past payments and invoices, and they can check when their next payments are due.
4. Make it easy to pay whenever
Using an online payment processing system ensures you and your clients can access your accounts from anywhere. Let’s say your client is headed on vacation. As they’re sitting in the airport, thinking about the work that will be waiting when they get home, they remember there’s an unpaid bill for your firm. No problem. They can access their account from anywhere in the world. The transaction can be completed in just a few clicks, and the money will be on the way.
5. Set up recurring payment schedules
What’s the best tool for ensuring that your clients pay their bills on time? Recurring payment schedules.
When you set up an auto pay schedule, your clients never need to keep track of whether their bills are due. Let your clients determine how often and how much money they want money to come out of their bank account. Then, let your payment processing software take care of it for them.
6. Create and communicate payment terms
When it comes to billing your clients, make sure you have clear, transparent communication about the terms of your agreement. This helps eliminate misunderstandings, and it helps you get paid on time.
Communicate your payment terms before you sign a payment agreement, so there are no issues or surprises.
7. Detail your invoices
People want to know what they’re paying for. Yes, you explain the charges to your clients as they’re accrued, but it’s helpful for clients to see this information on the invoice as well. That way, there aren’t questions about what they’re paying for.
8. Remind your clients when payments are due
You can remind clients about upcoming payments without being annoying. In fact, if clients don’t have automatic billing set up, they may prefer getting a reminder.
When payments are coming up, send clients an email with a click-to-pay link. That makes it easy for them to pay you immediately. Plus, with the right payment processing software, they can make secure payments without needing to create an account.
Make it easy for your clients to pay on time
Invoicing your clients the right way can help you get paid on time, create better relationships, and let you to spend more time focused on other aspects of growing your firm. With ClientPay, you get the lowest payment processing fees, generate electronic invoices, and track all your fees. It’s the most comprehensive, user-friendly system for law firms in the industry.
Contact us today to discover all the ways you and your clients can save time with online payments.