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Past due invoice reminder for Research and Development

hi this is katie bunchauton the founder and ceo of certum solutions here in north carolina and in a continuance of a video i just did i'm about to show you a little bit of a difference between quickbooks online advanced and quickbooks online plus and in this video we're going to go ahead and cover how you turn on invoice reminders for your customers within quickbooks online plus okay so within quickbooks online advanced uh in our last video we showed where you could use the workflows function to set up multiple reminders you can see in this quickbooks online plus edition that that feature does not actually show here as a workflow option so that's not something that we can do you can see if i go to my quick add function it's not there if i go up to gears you don't have workflows here as well this is one of those things where if you have the quickbooks online advanced you have a couple new features that that are pretty cool to use you can do this particular one in a more limited fashion within quickbooks online plus so if you saw what i just did there i actually pressed the gear in the top right and then i went to account and settings and from here we're going to click on sales okay now this is the sample company file and it's saying something's not quite right but i'm kind of hoping that it'll actually just let me do this video when you're within the sales piece of the accountant settings you want to go ahead and turn on automatic invoice reminders so you click the pencil here and then you can update this to be whatever you want for your regular reminder you can also send reminders from your customer list manually and then we can also click automatic invoice reminders right here and this is where you're going to set up your automated reminders so it's 2020. there's a lot of things that are kind of moving to this trigger and action type of uh situation you know you've got ai going on and machine learning and quickbooks has been actively working on ways to make your day shorter and to make certain processes more efficient and this is one of those so you have the option to do up to three reminders with quickbooks online plus if you had online advance you could set up multiple reminders several more past those three but you know it for a lot of us three is just fine so we're going to go ahead and click this and like i explained in the first video just to recap a little bit this is something where you really need to be cognizant of what your typical due date is if you have things that are due upon receipt you don't want to have anything says before the due date because obviously you know that's not technically realistically possible unless you have time travel so if it's due upon receipt you can't really use this before due date but as i mentioned in one of my other videos i was in a seminar before there's several uh organizations that recommend actually using a net 14 type of due date because of the psychological piece a due upon receipt due date for your customer can be a little ambiguous and it may make them think either they have 30 days to pay or you know so on and so forth uh in research shown you know in research shown they say that if you have a net 14 due date that sets an expectation for your customer and you're actually more likely to get paid okay now all that's barring having things set up for a recurring automatic payment right so that's what we love to do that's not always possible so if if you can't do that i recommend net 14 but do upon receipts fine if that's how you uh operate your business but if you do invoice due upon receipt just keep in mind you don't want to use before due date right so for me if i'm doing net 14 or net 30 or you have late fees that are going to apply sending it before invoice reminder is really helpful to save your customers some money so if you have it 30 days you have late fees being applied then doing something whereas three or five days before the due date is really helpful for your customer because that might remind them to say hey i need to pay this before i get charge late fees okay and then you can actually just update this email message i would even say something in that scenario like hey this is just a gentle reminder to let you know that we will be applying late charges to this invoice in the next few days okay your next option is your reminder two this is the one where i would either send it on i what on the due date or a few days after you this one's set up to go on the due date and then again you can update this message here to say whatever you want and you do actually have different tags you can use such as invoice number company name there and and a lot of those are in here and i believe there's a link in here too that kind of brings you to somewhere you can see other tags you can use so then you have reminder three and then this one's kind of at that point i would almost say like 14 days past the due date so you've got like your three you're on your due date if they've ignored those two we have the 14 days after if you haven't gotten a response by then i think you really need to call your customer and say hey most the time something innocuous like i have the typo in my email address you would be really surprised at how often that happens uh but if you don't have a response by then then i would definitely follow up with your customer uh you may also just want to give them a courtesy call and say hey is there any issue with the invoice with all that being said we now have set up our automated invoice reminders i'm going to go ahead and save this and i'm going to hit done and now in the sample company as people would invoice it would send those reminders ing to the schedule we have set if you want more flexibility with invoice reminders you can get that within quickbooks online advanced but for the purposes of today's video you should be set thank you so much for listening and i hope you have a great day