How To Track Your Invoices & Payment Status
Summary: In this lesson, we explore the journey of an invoice after it leaves your hands, focusing on how it appears to your client and the options available to them for making a payment.
Understanding how sent invoices are received and processed by your clients enhances your ability to provide clear instructions and support, ensuring a smooth payment process.
We'll cover the automated email notification sent to clients, the appearance of the invoice, and how clients can interact with it, including downloading a PDF for payment purposes when direct online payments are not set up.
Step-by-Step Instructions:
Viewing the Sent Invoice Email: Sent invoices are accompanied by an automated email notification that includes your business logo, the invoice details, and a clear call to action for the client to view the invoice. You can view this in the clients conversation dashboard on your CRM.
Examining the Invoice Layout: Upon clicking the link in the email, clients are presented with a detailed view of the invoice. This view includes:
Line Items: A breakdown of the services provided and their costs.
Terms and Notes: Any additional information, payment instructions, or terms of service you've included at the bottom of the invoice.
PDF Download: Clients have the option to download the invoice as a PDF, useful for payments via ACH (Automated Clearing House), bank transfers, or checks.
Manual Payment Tracking: Without an integrated payment system, payments need to be tracked manually. Ensure you have a process in place for recording received payments to keep your finances in order.
Additional Resources and Terminology:
ACH Payments: A type of electronic bank-to-bank payment in the US, useful for clients who prefer not to pay by credit card.
Automated Email Notifications: Emails sent automatically by the CRM system, notifying clients of new invoices, due payments, or other actions required.
Tips for Success:
Ensure the email template used for sending invoices is professional and includes your branding, making it immediately recognizable to your clients.
Clearly outline payment instructions in the invoice's terms and notes section, especially if you’re not using an integrated payment system. This helps avoid confusion and delays in payment.
Regularly follow up on sent invoices, especially if manual tracking is required. Consider setting reminders to check on outstanding payments.
This lesson highlights the importance of a seamless invoice delivery and payment process, from the moment an invoice is sent to when the payment is received.
As we move forward, we'll dive into marking invoices as paid and sending receipts, further enhancing your notary business's process and efficiency in handling financial transactions.