3 Essential Billing Hacks for Event Rental Companies

3 Essential Billing Hacks for Event Rental Companies

As event rental companies, billing tends to be more complicated and risky than businesses who work with one time purchases. While most business types are lucky enough to handle transactions with a traditional trade off between money and a product, rental companies have to deal with deposits and payments at later dates. These factors put all companies in the event industry at risk for cancellations and late payments. This guide will give you the 3 most important billing hacks that your event rental company can use to help manage these challenging billing scenarios.

Be Flexible

To make collecting payments less of a nagging process for your rental company, be flexible in your payment method offering. This is a great way to eliminate your customer’s “I lost my credit card” excuse for late payments. The goal is to offer almost every method of payment. Best part of all, your clients will see that you are all about fitting their needs. It always sounds great to tell you client “we will accept the form of payment that works best for you.”

Here at Goodshuffle Pro we provide you and your rental company the chance to offer all methods of payment and not worry one bit about losing track! In addition to the easy-to-use online payment method, our event rental software lets you charge payments offline in the form of check, credit card, cash, account credit, and literally any other way you want. Best part about this is that if you do in fact make an offline payment, the changes will take place in your project page. The amount paid will be recorded along with a note as to which payment method was used to help keep you organized.

online payments for rental companies. Goodshuffle pro. Event rental management software online payments for rental companies. Goodshuffle pro. Event rental management software

Record Now, Charge Later

This is another great way to prevent issues with late payments. For example, let’s say your payment policy for a customer is 50% now and 50% 3 days prior to the event. Now let’s also consider you are subrenting a majority of your items and need to make the arrangements 2 weeks before. This creates a bind because you cannot risk putting your money on the line but also need to make arrangements 2 weeks before the event. This is where you are protected by having their credit card information beforehand to ensure you are safe.

Goodshuffle Pro provides a feature that does more than just document a client’s payment information, but also charges them on the specified date! This is our “auto-pay” feature. This feature also saves you tons of time so you don’t need to remember to charge a ton of clients on various specified dates. The customer will also have the ability to choose this as their payment method when they sign our provided online contract. To use the feature, all you need to do is enter the amount you want to charge, the credit or debit account number, and when you want it charged! If you have a payment policy setup, the system will automatically know exactly when to charge as well as how much! automated online payments. goodshuffle pro. event rental management software

Have Easy and Reliable Access to Your Customers' Billing Statuses

During peak seasons, such as summer wedding season, your rental company is likely to pile up with numerous projects. It becomes very hard to know which clients have a balance due, which have overpaid, and which have already made a partial payment. When in the need of this information on the fly, you shouldn’t be shoveling through receipts or scrolling through your bank history online. Instead, you should have the ability to have this information presented to you in front of your face, even when you need it least!

Goodshuffle Pro provides multiple extremely convenient methods of presenting the billing statuses of all your clients' projects. Best of all, it updates instantly and is calculation free!

First, you can always sort projects to pull any type of billing report you like, such as who owes the most in any given amount of time:

Second, we always are surfacing any currently due balances on your dashboard:

Finally, within a project you are given a detailed breakdown as to where each payment came from and when. You are also presented with a display of if a customer has overpaid or if they still have a balance due.

Want to learn about how Goodshuffle Pro can help make your business billing a breeze?

Schedule a free demo today

Bryant Meyer

Bryant Meyer

Read more posts by this author.

  Washington, DC

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