30 day term for Invoice payment
Discussion
Dave - I'd say calm down mate. I've worked with a few different agencies. Most of them run the bacs on day 30, one sent me cheques on day 34 and one makes sure the money hits my account on day 30. Unfortunately they all have different ways of working.
It seems as though your first 30 day payment was due on Saturday next i.e 26th? So why are you chasing them already!?
I'd just keep quite about it unless you start getting payment delayed by up to 10 days...its then when i'd personally shout
HTH
It seems as though your first 30 day payment was due on Saturday next i.e 26th? So why are you chasing them already!?
I'd just keep quite about it unless you start getting payment delayed by up to 10 days...its then when i'd personally shout
HTH
535dman said:
Dave - I'd say calm down mate. I've worked with a few different agencies. Most of them run the bacs on day 30, one sent me cheques on day 34 and one makes sure the money hits my account on day 30. Unfortunately they all have different ways of working.
It seems as though your first 30 day payment was due on Saturday next i.e 26th? So why are you chasing them already!?
I'd just keep quite about it unless you start getting payment delayed by up to 10 days...its then when i'd personally shout
HTH
Ironically I've not had any issue with agencies before, this is a slightly different arrangement so I wasn't sure what to expect. It seems as though your first 30 day payment was due on Saturday next i.e 26th? So why are you chasing them already!?
I'd just keep quite about it unless you start getting payment delayed by up to 10 days...its then when i'd personally shout
HTH
The advice is appreciated though and taken in. Cheers
_daveR said:
I guess I'd just wound myself up in anticipation of one Ted?!
If that sounds "fair" for this sort of situation then I'll leave it be. Its a new thing for me so learning as I go.
It may actually be that they may do the run so that the money hits your account on day 30. If that sounds "fair" for this sort of situation then I'll leave it be. Its a new thing for me so learning as I go.
You can actually check through your bank the day before, they get access to the amounts 'due'.
This kind of stuff does my head in - most of my clients pay in about 30 days but a couple seem to think I should be grateful if they pay me in 58 and blow the law. Getting overly pushy can affect your long term relationships so this is what to do.
After your next very positive client meeting - where they are saying how pleased they are with you - mention that bills are taking a while to pay and ask if they can change your payment terms to shorter payment. If you do well the client will ask their accounts dept to do it and the job's done. One client pays me in 7 days!
This technique also works well with fee negotiations - 14 day payment in return
for a few quid off!
After your next very positive client meeting - where they are saying how pleased they are with you - mention that bills are taking a while to pay and ask if they can change your payment terms to shorter payment. If you do well the client will ask their accounts dept to do it and the job's done. One client pays me in 7 days!
This technique also works well with fee negotiations - 14 day payment in return
for a few quid off!
Edited by Jasper Gilder on Tuesday 22 April 18:38
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