Partial payments usually lead to bigger problems. It is important to have an internal system such as a CRM to take note of partial or late payments. If your customer can't afford to pay the agreed amount this month, they are likely not to be able to pay the following month either. The longer this goes on, the farther behind they get on paying you for the product or service you provided.

Prior to accepting a partial payment, find out the reason. Is it due to financial troubles? If the customer is awaiting a pay check before being able to pay the full amount, consider changing the due date to accommodate their financial situation. Some customers may have the funds however they are not so great at budgeting. If this is the case, consider setting them up with weekly or bi-weekly payment dates.

While a partial payment is better than no payment at all, it is crucial to have the customer sign an agreement. This will ensure the customer understands that you expect the remainder of the payment by a certain date. Communicating frequently with the customer will keep them engaged and understand that they are responsible for the remainder of the payment.