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buzzlightyear

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I'm sick and tried of sending invoices to customer saying pay within the seven days and some customers try and pay late .I run a business not a charity, I now you have to give them 30days to pay in the invoice ,but stuff that ,we have all been their waiting for payment .I now send them pay now or face the wrath of buzz.
 
I have sent many invoices out and tell the price and say if this invoice is not paid before the 7 days and extra charge will be added .more letters more mails or stamps more bullets.
 
If you want to be called back for future work then i guess it s a fine balance, if you dont want to get called back then a nice letter for a couple quid from one of the late payment outfits normally does the trick, who will go on to collect the monies owed if necessary, if the sum is sizeable then they can of course add there fees to amount being recovered.
being 85% domestic work the trusty chip and pin machine comes out, i only take bacs when i know the customer and have a prior relationship.
 
If you want your customers to pay within 7 days ?
Then you need to make this quite clear to them in the beginning.
Even put it on the quote/work order
Charge more for account customers
You cannot assume that the customers know better.
YOU NEED TO TELL THEM !
 
'Standard' business practice is 28-30 days and should be included on your invoice if not otherwise arranged, if you do not receive payment within this window then usually a reminder after 7-14 days overdue and a second a further 14 days for immediate payment, this can be different with large companies who pay on 60 -90 days but that is your choice to take the work on.
If you do not follow this standard practice then you must pre-arrange payment terms with your customer, failure to do so does not favour you legally or help your reputation.
I get where your coming from, suffered the hard times, slow payers etc so have full sympathy but you need to ensure everyone is aware of your terms, if this is already the case then I fully am on your side here.
 
PS - I'll add to the last post, this is business terms with other businesses, most domestic customers have no knowledge of what standard payment terms are hence you can dictate them prior but it is complacent to expect immediate payment hence one must make ensure everyone is singing the same hymn sheet.
 
Agree with Andy78 on his point, your invoice is a bill of works, it shouldn't include threats or you are already off on a bad footing, you factor in 5% first then the customer can redeem that with prompt payment but as said before it must be pre-arranged agreement - if they don't then it pays for your admin costs of chasing the debt after agreed terms, if they do they save 5% without you losing out.
 
There is nothing wrong or threatening about putting payment terms on invoices, in fact my book keeper insists that I do it. Perfectly standard to raise an invoice with a simple statement of 'terms: upon receipt' unless of course terms already determined through contract negotiations.
 

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