Glossary
What is promise to pay?
A promise to pay is when a customer commits to paying an invoice by a specific date.
Recording the date and checking the money arrives is what turns a promise into payment. If it doesn't arrive, a friendly follow up the next day works well.
Example
"I'll pay it Friday" is a promise to pay. Your Churnproof employee logs it, goes quiet, and checks on Saturday.
In Australia
Keep a record of promises. It helps if you later need to send a letter of demand.
General information only, not legal or financial advice.