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Thirty Day
Letter
Dear
In reviewing our accounts
receivables I noticed that we have not received payment in the amount of
$___________ for invoice #________, dated __________________________.
I am sure this is just an
oversight on your part. If, however, you have a problem with the service
we have provided, please contact me immediately so we can discuss the
matter.
If I do not hear from you I
will assume that you have no difficulty with the service or with paying
the invoice and will look for payment by (Date).
Sincerely yours,
Solo Law Firm
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Sixty Day Letter
Dear
It has been thirty days since
my last letter and we have not heard from you regarding payment. According
to our fee agreement, all invoices must be paid within 30 days of receipt
of the invoice. If we are to continue to provide you with a high level of
service, it is critical that we have invoices paid timely.
Please contact me immediately
if you have any problems with the payment of this invoice. If I do not
hear from you, we will expect full payment by (Date.)
Sincerely yours,
Solo Law Firm
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Ninety Day
Letter
Dear
I have not had any response
to either of my letters requesting payment of the past due invoice
#______________ in the amount of $____________________________. I regret
that I am at the point where I cannot extend any further time to you for
the payment of this invoice.
Effective immediately, we
will be unable to perform any further work on this matter until the
invoice is paid in full.
Please contact me so that we
may resolve this matter.
Sincerely yours,
Solo Law Firm
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Letter After
Client Promises (Some) Payment
Dear
Per our discussion on (Date)
you have agreed to pay $_____________ on invoice # by (Date). We know that
you will live up to this agreement.
If there are ever any
problems or difficulties with payments or invoices, please contact us
immediately so that we can resolve the matter quickly. We want to assist
you in every way possible and we are hear to answer any questions you may
have about our policy and procedures.
We look forward to a
continued good working relationship.
Sincerely yours,
Solo Law Firm
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Letter After
Client Promises (Some) Payment
And Does Not Send Payment
Dear
Although you had promised to
send payment in the amount of $___________________ by (Date) we have not
received any payment.
I regret that I am at the
point where I cannot extend any further time to you for the payment of
this invoice.
Effective immediately, we
will be unable to perform any further work on this matter until the
invoice is paid in full.
Please contact me so that we
may resolve this matter.
Sincerely yours,
Solo Law Firm
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Questions to
Ask When First Contacting Client for Payment
The key when contacting a
client for payment is to get the client to tell you what the problem is
and why it is not being paid. This should not be confrontational but
conversational.
1. Have you received the
invoice?
This forces the client to
admit that he/she has received it. If he/she says it was not received,
ask to check the address and send another copy immediately. After one
week, if no payment is received, contact the client again.
2. Ask if they understand the
invoice or if they have any questions?
If they have questions or
say they do not understand, tell them you will have the lawyer call
immediately to answer any questions.
3. Ask if they have any
problems with the service being provided?
If the answer is yes,
tell them you will have the lawyer call immediately to answer any
questions.
4. If they have received the
invoice, have no questions or problems, ask when you may expect payment?
Make note of the date and
follow up if payment is not received.
5. Do not accept vague
statements like "I'll see what I can do."
Make certain the client
gives a specific action that is going to be taken. If possible it
should include the amount to be paid and when.
6. If the promise for payment
is to take farther away than a few days, send a short note indicating the
amount to be paid and when.
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Billing and
Collection Policy of Solo Law Firm
In order to
provide our clients with the best possible service and manage our practice
efficiently, it is necessary that we have a fair and reasonable billing
and collection policy.
1. We will expect all clients
to pay a retainer fee agreed upon at the initial interview. This will
placed into a trust account and will be used to pay for the last invoice
at the conclusion of the matter. Any money that is not used for that
invoice will be refunded to the client immediately.
or
1. We will expect all clients
to pay a retainer fee agreed upon at the initial interview. This will
placed into a trust account and will be used to pay for time and expenses
as work progresses. You will receive a monthly invoice that will list the
balance of your retainer. If necessary, you may be required to replenish
the retainer.
2. Invoices will be sent out
monthly and will include the details of the time spent.
3. Payment of invoices will
be expected within in 30 days of receipt.
4. Work will stop on all work
if invoice goes unpaid after 90 days or no payment plan is established and
maintained.
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DAILY CASH RECEIPTS
Date:____________________________________
Payments expected
Client Amount Rcvd
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
Other Payments Received:
Client Amount
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
Total Received:
_________________
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DAILY CASH FLOW
REPORT
DATE:_____________________
Operating Account Balance
_______________
Amount Expected
_______________
Invoices to be paid
_______________
Anticipated Balance
_______________
Operating Account Balance
_______________
Actual Deposit
_______________
Actual Payments
_______________
Final Balance
________________
Payment Expected:
Client Amount Rcvd
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
Total: ______________
Invoices Needed to Be Paid:
Vendor Amount Due
_____________________________________________________
_____________________________________________________
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