Chaser – Stop wasting time chasing invoices

21st August 2017

 

Chasing unpaid bills can be very time consuming for any company and can cost hours of time spent writing, emailing and phoning customers. This can put a strain on the rapport that has been built over years of trade. In some cases business owners just don’t have the time or the man power to chase outstanding payments, although this can have a knock on effect on their cash flow – creating a vicious circle.

 

Xero can help

 

Xero currently offers invoice reminders to help chase any amounts owing to you. You can create an email to be sent to customers once they have reached a certain number (which you decide) of days overdue. Once the first email has been sent you can set up a further email for any amounts that continue to remain unpaid at predetermined later dates. In these emails you are able to attach a copy of the invoices in pdf form, making sure the customer is less likely to deny the debt.

 

Xero also allows you to set a minimum amount before the emails are sent, meaning you won’t be chasing any customer for immaterial amounts. This is a simple but very effective way of chasing customers. With a small amount of set up time it will run in the background and can only help you get paid quicker. This is already included in your subscription and could be a further advantage to Xero for those not currently using!

 

Chaser

 

Automated debt collection can be taken to a higher level. Winner of the Xero app partner of the year 2016, Chaser is an elite credit control software which provides the tools and insights to effectively automate chasing your customers to pay their invoices. Some of the features offered by Chaser are:

 

  • Templates: effective email templates are fully customisable allowing you to send an email which suits your style of business and relationship with your customers
  • Schedules: Set your emails at different points before and after an invoice due date.
  • Personalisation: You can make Chaser emails look like your typical emails, by using your usual personal signature and by the sent email address being your email address. There is no reason for the client to believe that you did not send these emails yourself.
  • Insights: Chaser will analyse data from Xero and determine who your best and worst customers are. Additionally you can also view a log of all sent emails and any replies received.
  • Thank you: Once Payment is received, you can automatically send thanks for paying messages to build relational goodwill with your customers and encourage on time payment in the future.

 

Chaser is easily able to be integrated with Xero. This can allow you to go about your normal business knowing that the information is being provided to Chaser and dealt with accordingly. Using Chaser will give you even more control and statistics over debtor chasing than Xero already provides, offering a more in depth and complete package.

 

Cost varies depending on amount of use needed. The basic package starts at around £25 per month and includes:

 

  • Up to 50 invoices chased per month
  • 2 Users
  • 1 Sender
  • 8 Templates
  • 1 schedule

 

There can be huge benefit to using Chaser for some medium-large business owners who may be struggling to chase payments that are overdue. However for business owners, who don’t want the extra expense or only have a few unpaid invoices per month, Xero does provide a very good system already and I would urge people that are not currently using it to try it as it is free and included in your Xero package.

 

Please contact your local Whiting & Partner office for any guidance on how to set this up or to ask any questions you may have on this topic.



 
Other items in Blogs
 
Jeannette Hume
20th October 2020 Indexation Relief

The Office of Tax Simplification (OTS) has been in consultation with individuals, businesses as well as professional advisers – including accountancy bodies – to review the capital gains tax system and see whether there is any scope to simplify the current tax system. The consultation process closes on 9th November 2020.   Speculation has been…

Read More »

Steven Denton
15th October 2020 Job Retention Bonus (JRS)

HMRC have announced more details on the Job Retention Bonus scheme they set forth in July. The JRS allows an employer to claim a one-off payment of £1000 per employee furloughed and claimed for through the CJRS and kept employed until at least 31st January. This money is to be paid to the employer and…

Read More »

Jaimie King
12th October 2020 AGM deadline extension for Charities

Due to Coronavirus, the Charity Commission had previously released guidance allowing Charities to postpone their scheduled AGMs to 30th September 2020, and allowing them to be held digitally.   This guidance has now been updated to allow postponement of AGMs to 30th December 2020.   The updated guidance can be viewed at – https://www.gov.uk/guidance/coronavirus-covid-19-guidance-for-the-charity-sector  

Read More »

Oliver Taylor
12th October 2020 What to do if your charity is facing financial difficulties?

In recent months many charities have found themselves in financial difficulties and an uncertainty of long-term survival, often caused by factors out of their control. Most notably the ongoing Covid-19 outbreak, which has had several knock-on effects such as a reduction in donation income or decreased operating capacity during the tightened lockdown rules. Other external…

Read More »

Ian Piper
9th October 2020 Pre-Packs: All change?

After many years of perceived abuse, the Government has announced that they are soon to introduce new laws to require stricter, independent, scrutiny where connected parties purchase a failed business out of liquidation. In announcing the move, the government said that while pre-pack administration sales are widely considered to be a valuable rescue tool, concerns…

Read More »

Ben Beech
8th October 2020 Countryside Productivity Small Grant Scheme – Round 3

  £25 million has been made available in the third and final round of The Countryside Productivity Small Grants Scheme. The scheme offers grants of between £3,000 and £12,000 to fund a wide range of new equipment and technology in an attempt to help farmers improve efficiency whilst also benefitting the environment.   Potential applicants…

Read More »