To have an efficient monthly payment control, a platform can help much more than you think. A financial management system can serve as a monthly fee control program to streamline monthly fee collection for service provision or installment sales.
Imagine that you have an English school and need to charge your students monthly fees. How will you do this? Through boletos? Who knows if you think of some models of tuition fees for the student to pay the installments monthly?
With the technology available on the market today, it is possible to take advantage of a monthly payment receipt control that not only records the payment by the customer, but also issues the invoice, in addition to intermediating between customer and seller / service provider through of good financial management software.
Through an application to control fees, it is possible to adopt these and many other features that will assist in the financial planning of your company. Check out the benefits of adopting a financial management system and how to control your customers’ monthly payments.
What is monthly fee receipt control
The control of receipt of monthly fees is a feature that allows the administrator to know how much money enters the cash from the payment of monthly fees for the use of a certain service.
In addition, it is possible to access payment history and open invoices, in addition to checking if any customers are in arrears or with payment overdue. Therefore, the monthly control of accounts receivable will assist in the administration and improvement of your company’s financial health.
How to control monthly payment
Without a doubt, the best way to make an efficient monthly fee control is through a platform. The acronym, translated into London and simplified, is nothing more than a business management system that automates previously manual tasks.
The benefits of having a monthly payment control are several, look!
A monthly fee control system has features such as automatic billing, cash flow control, access to customer payment history and automated reports.
We will focus on automatic billing. In this case, the platform will serve as an application to control fees. This is because, by programming your management system to issue slips to your customers on a certain day, you do not have to worry about manually charging monthly fees.
How about using the famous payment booklet? Did you know that the payment booklet can also be issued virtually? And this is just one more feature of the benefits of having an automated monthly fee control.
We even know that technology can be a great help in these hours of charging, right? And with a platform you have access to your customers’ history and can know when and if the monthly fee was paid. Much easier than taking notes in the notebook and having to keep calling the customer.
And to ensure that the monthly payment is paid, how about sending reminders to your customers about the monthly payment due date? This makes it much easier to avoid defaults.
To send reminders, it is always a good idea to have a billing rule that identifies each step of your financial control. Check out how easy it is to build one below.
How to assemble a billing ruler
Setting up a collection rule is essential to follow the step-by-step of the entire collection process, from sale to payment by the customer, and you can do it manually or through a management system.
Here’s how to set up a charging rule in a simple way:
1. Separate billing information
Specifying the date of the sale, the due date and pre-establishing the dates that reminders about the charge will be made is the first step to assemble this tool.
After that, you must choose which way to charge: such as email and SMS. This step may include more than one option, as not every customer meets all of these means and it may be interesting to make more than one attempt at contact.
It is also interesting, in this step, to think about the details of the collection, such as which message to send to your customers and what are the possible responses.
2. Set the start and end date of your billing rule
Defining the start and end of your billing rule allows you to follow the entire billing process in a more organized way.
This is because it is between the start date (issue of collection) and the end date (settlement of debt) that you will issue payment reminders to your customers. This can be done manually or automated from your financial management system.
3. Create the message to be sent as a payment reminder
Standardizing a message to remind your customer of the payment is a great idea to avoid delays or defaults.
A good idea is to always be available to help, this makes the client trust you more and feel comfortable renegotiating debts, if any.
We have prepared some sample collection messages to give you a helping hand in situations of reminder, delay and debt renegotiation:
“Hello, [nome da pessoa]! Remember the open monthly payment due on the day [especificar a data]. If you need a duplicate, just get in touch with us! ”
“Hi, [nome da pessoa]! Okay? Your monthly payment is overdue, so we are sending an updated payment slip. ”
“Unforeseen events happen, right, [nome da pessoa]? How about renegotiating your monthly debt with us? Just say the best time for us to contact you. Until later!”
4. Choose the time intervals for reminders
With the dates defined in your billing rule, it is enough to elaborate models of messages to be sent in a certain time interval within the start and end dates established in step number 2.
The frequency is up to you. You can choose to have three reminder messages before the due date, two messages reminding you of the delay and then some alerts for debt renegotiation.
Of course, if you choose the manual billing rule, you (or an employee) yourself must remember to perform all these steps, including sending messages.
It was easy to see how much a management system can do for you when managing your business, right? For efficient monthly fee control, it is essential that you automate functions to save time, both yours and your customer’s.
Therefore, the best option is to adopt a financial management system that manages resources such as the collection rule for those who have a business with more customers and do not want to run the risk of forgetting to issue collections.
*The article has been translated based on the content of https://www.jivochat.com.br/blog/vendas/controle-de-mensalidade-eficiente.html by www.jivochat.com.br
. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article. If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!