Discussion
Thirty days, sixty days, ninety days.... When do you get paid?
Something on another thread got me thinking. How do you get paid on your terms? The company I currently work for are always muttering about bad payers.
So how do you deal with this?
If I was to offer credit accounts Could I load the terms for payment up to ninety days from invoice ie payment within thirty days = X payment after thirty days = X + 15%.
Can you do this?
Apologies if it's a dumb question, I've got a million disorganised thoughts bouncing around in my head!
Something on another thread got me thinking. How do you get paid on your terms? The company I currently work for are always muttering about bad payers.
So how do you deal with this?
If I was to offer credit accounts Could I load the terms for payment up to ninety days from invoice ie payment within thirty days = X payment after thirty days = X + 15%.
Can you do this?
Apologies if it's a dumb question, I've got a million disorganised thoughts bouncing around in my head!
BliarsGoing said:
So how do you deal with companies who say "we pay on ninety day terms"? We've come across this before and our company usually ends up waiting. How do you avoid that situation?
Yes, I know it's poor management, that's why I'm asking now
Yes, I know it's poor management, that's why I'm asking now
Providing they stick to this, then you at least know what you are working with and can make provision for it (overdraft/factoring etc) and build any cost into your fees. What's worst is assuming you'll get paid in 30 days but have to wait longer. Within reason, as long as our clients are upfront and stick to what they say they are going to do, then fine.
Sorry for the minor hijack but it is related.
We're considering signed up to www.riskdisk.com to get credit information on existing and potential customers. It costs £300.00 per year and gives accounts details, suggested credit limits, Directors detais etc. Does anyone know of any better or cheaper options for this service?
We're considering signed up to www.riskdisk.com to get credit information on existing and potential customers. It costs £300.00 per year and gives accounts details, suggested credit limits, Directors detais etc. Does anyone know of any better or cheaper options for this service?
greenie said:
Sorry for the minor hijack but it is related.
We're considering signed up to www.riskdisk.com to get credit information on existing and potential customers. It costs £300.00 per year and gives accounts details, suggested credit limits, Directors detais etc. Does anyone know of any better or cheaper options for this service?
We're considering signed up to www.riskdisk.com to get credit information on existing and potential customers. It costs £300.00 per year and gives accounts details, suggested credit limits, Directors detais etc. Does anyone know of any better or cheaper options for this service?
We've subscribed to this for the last 3 years, it's great and I haven't found a better alternative yet.
Carrera2 said:
greenie said:
Sorry for the minor hijack but it is related.
We're considering signed up to www.riskdisk.com to get credit information on existing and potential customers. It costs £300.00 per year and gives accounts details, suggested credit limits, Directors detais etc. Does anyone know of any better or cheaper options for this service?
We're considering signed up to www.riskdisk.com to get credit information on existing and potential customers. It costs £300.00 per year and gives accounts details, suggested credit limits, Directors detais etc. Does anyone know of any better or cheaper options for this service?
We've subscribed to this for the last 3 years, it's great and I haven't found a better alternative yet.
greenie said:
Sorry for the minor hijack but it is related.
We're considering signed up to www.riskdisk.com to get credit information on existing and potential customers. It costs £300.00 per year and gives accounts details, suggested credit limits, Directors detais etc. Does anyone know of any better or cheaper options for this service?
We're considering signed up to www.riskdisk.com to get credit information on existing and potential customers. It costs £300.00 per year and gives accounts details, suggested credit limits, Directors detais etc. Does anyone know of any better or cheaper options for this service?
Yep, we use that and it's 99% reliable.
Good credit control is the key and understanding how your customers operate their purchase ledger. The practice of paying an invoice when is a actually due seems to be releativley uncommon these days. Lots of companies will not actually pay on Invoice's at all they will pay when they recieve a statement. Others will pay only when you have rung and chased payment. As for payment terms the bigger the organization you are selling to the less likley it is that you will be able to enforce your terms. If however you are supplying a unique product which is a fundamental requirement for their business you have them over a barrel and can enforce you terms
Carrera2 said:
greenie said:
Sorry for the minor hijack but it is related.
We're considering signed up to www.riskdisk.com to get credit information on existing and potential customers. It costs £300.00 per year and gives accounts details, suggested credit limits, Directors detais etc. Does anyone know of any better or cheaper options for this service?
We're considering signed up to www.riskdisk.com to get credit information on existing and potential customers. It costs £300.00 per year and gives accounts details, suggested credit limits, Directors detais etc. Does anyone know of any better or cheaper options for this service?
We've subscribed to this for the last 3 years, it's great and I haven't found a better alternative yet.
We use Atradius ,, its online and works very well
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