Finance Payment Collection Questionnaire

Use the checkboxes [✔] to indicate your responses. Your input is crucial in understanding and improving individual payment collection processes.

Company Information

Company Name: [Your Company Name]

Industry: 

• Manufacturing

• Services

• Technology

• Healthcare

• Other (Specify): ________________

Number of Years in Business: [5]

Invoicing

1. What is your preferred method of generating invoices?

   • Manual (Written or Typed)

   • Electronic (Apps, Software)

   • Combination of Both

2. How frequently are invoices issued?

   • Daily

   • Weekly

   • Monthly

   • Occasionally

   • Other (Specify): ___________________

Payment Terms

1. What are your standard payment terms for clients/customers?

   • Net 15 days

   • Net 30 days

   • Net 45 days

   • Other (Specify)

2. Do you offer early payment discounts?

   • Yes

   • No

   • Occasionally (Specify Conditions)

Collection Procedures

1. Describe your primary methods for collecting payments.

   • Bank Transfers

   • Credit/Debit Cards

   • Checks

   • Online Payment Platforms

   • Other (Specify): _____________

2. How do you handle overdue payments?

   • Automated Reminders

   • Personalized Follow-up Calls

   • Late Payment Fees

   • Negotiation for Extended Terms

   • Other (Specify): _____________

Credit Policies

1. Do you conduct credit checks on new clients/customers before extending credit?

   • Yes

   • No

2. What criteria do you consider when determining credit limits for clients/customers?

   • Previous Payment History

   • Financial Statements

   • Credit Score

   • Industry Reputation

   • Length of Relationship

   • Other (Specify): _____________

Challenges

1. What challenges do you face in the payment collection process? 

   • Slow Payment Processing

   • Disputed Invoices

   • Inaccurate Client Information

   • Lack of Payment Communication

   • Other (Specify): ______________________

2. How do you currently address these challenges? (Select all that apply)

   • Implementing Automation Solutions

   • Enhancing Communication Protocols

   • Offering Incentives for Timely Payments

   • Reviewing and Updating Billing Procedures

   • Other (Specify): ______________________