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Remittance Reminder - So we get your order to you on time!



What, Why & How?

We at 20Twenty Communications (Trading as Bannerworld) are very grateful to work with so many wonderful customers on new and exciting projects day in, day out.


When it comes to placing orders for these projects, we understand there are often deadlines and expectations around receiving orders promptly. Our team works tirelessly to ensure that we meet these deadlines and expectations, however, a large component of achieving this, is the timely receipt of payment and payment confirmations.


20Twenty Communications (T/A Bannerworld) has a ‘pay-up-front’ company policy, for most customers. There are some exceptions, such as some long-standing loyal customers who may have ‘pay on account’ or ‘end of month account’ with us. In any case, we always do our best to cater to the best of our ability to all our customers.


The reason we require payment prior to commencing production for all orders, is because this payment covers the cost of the media, labour and time that is required to produce your goods.


There are several payment methods that we have available, these include:


  • Our PayPal Gateway via our online store.

  • ‘Review and Pay’ link gateway accessible on manual invoices emailed to our customers.

  • EFT (Electronic Funds Transfer) via the bank details shown on all invoices.


When it comes to payments and invoices, we want nothing more than to ensure that you not only get the BEST possible price, but also that your order proceeds to production as soon as possible. The way to ensure this, is by providing our team with a remittance once you have paid.


What is a remittance?

A remittance is the act of sending money from one entity to another. It may also be referred to as a ‘payment confirmation’.


Your remittance (aka confirmation) could have the following forms:

  • A formal pdf with the details of your payment.

  • An email from your bank confirming the transfer of funds.

  • A screenshot of the payment taken on your phone.


Your choice of remittance can then be forwarded to our accounts team, which in turn will reconcile and mark your invoice as paid.


We are fortunate enough to process high volumes of orders on a daily, weekly and monthly basis. Therefore, it becomes very difficult to match payments received if a remittance is not produced. As a result, unmatched payments cannot be reconciled.


We always endeavour getting your order to you as quickly as possible, therefore we would like to suggest the following:


1.  The remittance should be sent to our team as soon as payment has been made.

Your order appears in our system as ‘awaiting payment’, until payment confirmation has been received. If payment confirmation has not been received, your order continues to remain on hold and could be delayed.

 

2.  The remittance should include the invoice number and/or order number.

Our accounts team strives daily to reconcile payments efficiently. However, without a remittance there is a chance that the payment you made may inadvertently be applied to a different invoice. Once again, your order could be delayed, until this has been cleared.

 

3.  Avoid the ‘outstanding invoice’ email reminders.

Your order will remain in our system as ‘awaiting payment’ until payment confirmation has been received. It is our policy to send out email reminders for all outstanding invoices and these reminders are sent out regularly.

Let’s face it who really wants those pesky ‘outstanding invoice’ email reminders – am I right?

 

4.  Avoid the late fees and interest charges.

If your account is ‘pay-up-front’ and overdue by 30+ days, your order will accumulate late fees and interest charges. The late fees and interest charges are 24.99% per annum, plus they are calculated and applied daily.

 

5.  Avoid ‘STOP SUPPLY’ and the debt being sent to the collection agency.

Due to default in payment, all outstanding accounts above 90+ days will be issued with a ‘STOP SUPPLY’ warning. After the 90+ days, a 14-day FINAL Notice will be sent out. If payment has still not been received the debt is then sent to a collection agency.


So, with all this said, it is important to remember, when placing an order, payment is required upfront AND once you have made this payment, get into the habit of providing a remittance or payment confirmation.


All in all, payment confirmations ensure everything stays on track! And who doesn’t want their order to be produced on time?


Thank you! We are grateful for your cooperation!



Psst - Want a reminder of these suggestions? Access a FREE downloadable version below.


Remittance Reminder - What, Why & How (20Twenty)
.pdf
Download PDF • 136KB





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