When I was in my business in my past life I sent out statements at
the end of the month summarizing the purchases during the month and
it gave the amount due, past 30 past, 60 days, and past 90 days.
When setting up the account I had past due totals are subject to
interest at ?? percent annual and ?? percent monthly.
Those accounts that were past 60 days would be placed on a Cash Only
I had accounts payables that would give me an additional ?? percent
discount if I paid by the 10th.
All of this needs to be setup in the accounts receivables agreement.
It would be prudent to check with your lawyer on the wording of your
I would also find a book on business communication and forms. My
father-in-law had one that had various levels of communicating the
various levels of lateness on payments.
I found the mass majority of my customers were good payers, but that
typical percentage needed to be prodded to get them to pay.
Never apologize for asking for you money. I told that by a very
successful businessman. He was not a cut throat type of person, just
a good businessman.