If you’ve ever had a small business, you know that tightness in your chest when the due date passes and you still haven’t heard from a client. Did it slip their mind, or are they avoiding you? Hola Bili has several features that might help you manage missed payments from your clients.

The first step should always be a friendly reminder, who among us has never forgotten something important, right? This can take the form of an email or a text, but after a reminder or two and still no answer, Hola Bili has built in several features to help you manage the situation going forward.

Managing overdue invoices

First, Hola Bili provides the ability to customize the due date for every invoice. This means you can set the due date to be immediately, or in 30 days — whatever works best for your business.

Additionally, since Hola BIli allows you to add multiple forms of payment — Venmo, CashApp, PayPal and credit cards to name a few — you can ensure that your clients will be able to pay you with whatever method works best for them. Plus, Hola Bili invoices allow for instant payments.

Partial payments is another great way to protect you from a 100% loss when a client has an overdue invoice; Hola Bili allows you to customize your invoices to accept partial payments. Finally, Hola Bili will be releasing a feature this year that will automatically text your customer reminders about upcoming payment due dates.

Strategies for managing lost revenue

Ultimately you may have to price your services to cover for potential losses.

You could always try to take your customers to small claims court if they don’t pay you, but that requires time and energy and may not be worth it to you. It’s good practice for small business owners to have a policy for late payments, something like “2 strikes and you’re out,” to avoid the costly and stressful issues surrounding late payments. Sometimes, you need to fire your customers.

There’s no perfect strategy for getting clients to pay overdue invoices, because there are no perfect clients or customers. At Hola Bili we did our best to build-in features to mitigate payment issues, and would love for you to try our service and let us know what you think.