The credit control function monitors outstanding invoices by due date and when set dates are passed it automatically sends out a payment reminder email. KashFlow allows you to edit the emails but the templates are pretty good, take a look:
2 days before invoice due
This is just a quick reminder to let you know that [invoice number + hyperlink to view invoice ] is due for payment in two days.
I’d be grateful if you could ensure the amount of [invoice amount] is paid by [due date].
3 days overdue
We don’t appear to have received payment for [invoice number + hyperlink to view invoice ]. A payment of [invoice amount] is now overdue.
I’d appreciate it if you could make payment straight away and let me know when you have done so.
If you have any queries about the invoice then please don’t hesitate to get in touch.
7 days overdue
[invoice number + hyperlink to view invoice] is now a week overdue.
We need to receive payment for this invoice today.
If you’ve already sent payment for this invoice then please disregard this email.
However, if you haven’t yet paid then please do so today and let me know this has been done.
The amount you owe is [invoice amount].
14 days overdue
Despite numeorus reminders, [invoice number + hyperlink to view invoice] is still unpaid
Please send immediate payment for the full amount of [invoice amount] today and confirm to me that you have done so.
If for any reason you will not be making the full payment today then please contact me immediately to discuss this problem.
At Caprica Online Accountants we love this sort of thing. It’s nothing particularly clever but can make a real difference to a businesses cash flow. It also goes to demonstrate yet again just how much online accounting packages can simplify small business accounting.
To set it up go to KashFlow Settings > Configuration Settings > Automated Credit Control
Well done KashFlow.