How to resolve a disputed invoice?
Posted on 7th December 2020 at 05:01
Disputes are hindrances in the success of a business that almost all organisations face time and again. Several kinds of disputes hinder the growth of an organization, like, invoice dispute, quality dispute, communication dispute, administration disputes, etc. However, in the majority of the cases, invoice disputes are much more harmful for the business than the other disputes. Not only this, dealing with customers who don’t pay on time can also be very frustrating.
Below are some of the ways to resolve a disputed invoice –
1. Communication – In many cases, there is a possibility that it might have genuinely skipped the customer’s mind that your invoice is still pending. No matter what is the reason for the delay, you must contact them, preferably by phone, and let them know their invoice is pending. You need to be firm but flexible on this call and try to understand the reason for the delay. If you feel there is a genuine reason for non-payment then allowing the customer time to clear their invoice is a possibility to resolve amicably, but extreme care is recommended in situations like these as repetition by the same customer may lead into something more serious, very quickly.
2. Keep records – As a business, you need to be organised and keep a record of all the emails and other correspondence you have had with the client. It is important to store all the invoices, correspondence and records of time, materials, etc., together so that in case of a dispute or misunderstanding, they can be produced speedily to show the clients, ensuring the matter can be solved. Thus, by being organised, you can provide your clients with impor tant evidence specifying the costs related to the disputed amount.
3. Clear terms – One major reason for invoice disputes is the lack of clarity. Therefore, invoice terms must be clearly stated on each and every invoice. Also, it is a good idea to send the clients notifications as the due date for invoices approach.
4. Keeping a calm mind – If you are having a dispute with the invoice, you must keep a calm mind in such a situation. You should keep an open mind while discussing the issue with the client and accept things if it is proved that the fault was from your end. You should always be honest with your client, and if you have not delivered the products to the clients, then you should never raise an invoice for the same. Moreover, if you are aware that the products delivered by you were not as required then you should offer some concession on the invoice to the client. This will not just help in solving the dispute but will also ensure good relations remain with your customer and strengthen future business relationships.
Handling the issue of disputed invoices is one of the biggest challenges faced by businesses. Therefore, accuracy, honesty and integrity should be key to a good business relationship. If you need help our debt collection agency team can assist you anytime.
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