M06.03
Collections and payment methods
ACH, check, wire — and the 30/60/90 cadence that shortens DSO without damaging the relationship.
- Match payment method to invoice size
- Run a polite, written collections cadence
- Log every promise to pay
Payment methods we accept
| Method | When to use |
|---|---|
| ACH | Standard AP. Get our ACH form into their vendor file at award. |
| Check / lockbox | Still happens. Log receipt same day, photo the check, deposit — cash application to the AR tracker. |
| Wire | Large deposits; funds confirmed before special-order material is released |
Collections cadence — 30/60/90 (adjust only with Eric)
- 01Day 0
Invoice sent, portal confirmed, AP contact named. Terms are Due Upon Completion.
- 02Every Monday
Pull AR aging from the OneDrive tracker. Nothing ages quietly.
- 0330 days past due
Friendly reminder email with statement attached. Note it on the Zoho CRM Account timeline.
- 0460 days past due
Controller calls their AP within 48 hours, then a formal letter on letterhead. Credit hold — no new work or invoices until current.
- 0590 days past due
Eric notified. Certified demand letter. Lien review within the statutory window. Counsel if no resolution in 14 days. You prepare the file. You do not freelance threats.
Short-pay letter (tone)
You — Thank you for the payment of $42,100 received 21 Aug against Invoice 1184. We show a remaining $6,840 on executed Change Order 03 (attached). Please confirm the variance so we can close the line. We can take ACH or a wire this week if that helps AP.
Takeaways
- Deposits before special-order material.
- Be kind. Be dated. Be impossible to ignore.
- A verbal 'the check is coming' is not a payment.