Financial Tutorials
- Financials 01: Payment and Policy Procedure
- Financials 02: Planning Your Profit
- Financials 03: Ideal Profit Calculator
- Financials 04: Monthly BEP Calculator
- Financials 05: P&LCF Dashboard
- Financials 06: Invoice Template
- Financials 07: P&L Financial Forecast For 12 Month
- Financials 08: P&L Monthly Planner
- Financials 09: Marketing Budget Planner
- Financials 10: CFMB – Cashflow Template (4 Banks)
- Financials 11: Historical Sales & Profit Graph
- Financials 12: Multiperiod Avg PC Graphs
- Financials 13: Cashflow Budget
- Financials 14: P&Ls Multiperiod – Export to Excel
- Financials 15: Quoting Process
- Financials 16: Marketing Planner
- Financials 17: Discounting Your Prices
- Financials 18: Increasing Your Prices
- Financials 19: Business Growth Calculator
Payment and Policy Procedure
Policy: Decide when you want your customers to pay you. What method they will use to pay you. And what % they will pay you.
Procedure: List every contact your potential client has with you prior to becoming a customer, and then once they have become a customer.
Next to the list, write down how you can inform your customer of your payment Policy whether it’s verbal or written. This is crucial, especially BEFORE they become customers as they will ‘know’ your ‘rules’ and abide by them.
Here’s an example of the steps involved and what you could do. Of course your business will be different (in terms of how they contact you, what method(s) you’d like them to use to pay you and when they need to pay you) – just use this as a guide only – to allow you to come up with your own.
| Contact # | Contact | Type | Explanation |
|---|---|---|---|
| 1 | Phone | Verbal | Scripted. Stated during the conversation. “By the way, Do you know our payment policy?” |
| 2 | Website | Written | Written on each ‘landing page’ when ever they are educated about our products and services. Images of the credit cards are displayed with a “how to buy” explanation. |
| 3 | At Store | Verbal and Written | Credit Card Icons displayed. 100% Payment sign Verbally talked through by each staff member |
| 4 | At Register | Verbal and Written | Credit Card Icons displayed 100% Payment sign Verbally talked through by each staff member |
| 5 | Invoice | Written | Written on each invoice. Images of the credit cards are displayed with a “how to buy” explanation. Prominently display the date the amount is due and how much is due. Make it obvious and easy for them to see and pay you. |
| 6 | Receipt | Written | “payment policy”, returns and credits explained |
| 7 | Newsletter | Written |