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Why You Should Be Collecting Payments At Time of Service

Collecting payment from customers immediately after the job is completed eliminates a lot of headaches for service businesses.

That’s why an article on The Service Coach’s blog recommends all trucks be equipped to process payments on the spot.

With mobile Internet connections, this should be a snap. Giving your technicians access to work order software that runs over the Internet will allow you to price your services and parts immediately.

This also will print the invoice number and details directly in front of your customer. Credit card terminals are readily available so you can mark the invoice paid. If your software is integrated with your financials, the invoice can easily be matched with the payment for tracking.

Cash flow is king. Having customers pay right away means you don’t have to wait to account for that revenue. That eliminates the hours you spend every week reconciling your accounts receivable, The Service Coach article explains.

If you wait, you run the risk of never getting paid for that service, or having to hire a collection agency for late payments. And without cash, you can’t run and grow your business.

Make your life easier. Collect the payment on-site and you’ll never have to worry about when you’ll see that money.

Source: The Service Coach, March 2010