Unfortunately, there are times where your buyer will remit less than the original invoice amount by taking an unauthorized deduction from your invoice.
If there is no dispute, follow these steps:
- Immediately get in contact with your buyer seeking the full balance due.
- Explain to your buyer that no deduction was ever granted and that you expect immediate payment of the balance due.
- Very important! Confirm all conversations in writing, either by email or fax.
I have always stressed that you should be diligent about having an internal process so you have an ongoing record of buyers who consistently short pay your invoices. Ask yourself, “are these the type of customers I desire?” While these customers may be volume buyers or have other possible attributes, they will typically cost your company money in the long run.
Always feel free to contact me any time to discuss strategy and to ascertain what appropriate steps need to be taken at TommyO@wga.com or (949) 885-2269.