pay your invoice or watch your windows

[buzzlightyear]

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.

 

[Octopus]

You are too up tight about this

I chase after 30 days .... Rarely before

That said the vast majority of my clients pay within 7 days

Building up a cash balance in my business account allows me to take this approach

 

[buzzlightyear]

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.

 

[Octopus]

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 .

Good luck with that approach .... sounds like it doesn’t work

7 days for payment is a bit quick imho .... unless it’s after the 24th of the month

 

[buzzlightyear]

Good luck with that approach .... sounds like it doesn’t work

it does on some occasions. but the odd one .try it .

 

[Octopus]

it does on some accessions. but the odd one .try it .

Accessions ?

 

[buzzlightyear]

Accessions

thanks

 

[Octopus]

thanks

For what ?

 

[buzzlightyear]

For what

a mistake ,spelling .

 

[Gavin John Hyde]

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.

 

[dmxtothemax]

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 !

 

[buzzlightyear]

for a couple quid from one of the late payment outfits normally does the trick,

who's that Roonie and Roonie krays.

 

[buzzlightyear]

had one yesterday e mailed me saying will have to pay over two days .
oh yeah .and next thing please ignore the first email sent payment in full..

 

[Darkwood]

'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.

 

[Darkwood]

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.

 

[buzzlightyear]

may times a come home with 5 magic beans , one day i might come home with a cow , kids will love this free milk .and take it to tescos.

 

[Andy78]

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.

Try it the other way round. Add on 5% then say there is a 5% discount for payment within 7 days.

 

[Darkwood]

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.

 

[Bellendian]

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.

 

[Toneyz]

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.

What sort of customers are they Buz individual homeowner, builder, commercial?

 

[dmxtothemax]

Business paying at the end of the week is comon place,
Even paying at the end of the month is common
especially with larger corperate style business.
They seem to expect you to know this.
The best way around all this,
is to sort it out in the beginning,
so both sides know and agree.
If you just expect them to understand,
you could be in for a shock.

 

[NDG Elecs]

I think what Buzz is getting at is the general way the public can often behave. We don't expect to get a pizza delivered or get a taxi somewhere and then say we will pay you in ten days time..
Unfortunately more and more people are becoming like this. It may be partly due to them being busy and just not getting round to it yet, but often I feel that people generally are too self-absorbed and it's all about them. And anyway, why should they pay you this week, they have to buy some rubbish off the internet and spend time finding themselves first. Commercial work is a little different quite often, but I have had jobs where they can get a cheque counter-signed within 24hrs when a deposit is required and they want the work to start ASAP, but then have to wait three months or more for the final counter-signed cheque to arrive. Poor prioritising IMO.

 

[Squid]

The terms are stipulated in the contact agreed by both parties, a friend has a building company and he works on a 14 day term.

Just don't do any work for the NHS 90 day terms.........

 

[Midwest]

My cars in for MOT Friday. Think I'll tell em, I'll pay at the end of the month. Can I have my keys please.

 

[Harry_P]

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.

Simple solution.
1 Make it clear that invoices are payable upon receipt of the electrical certificate
2 Give the client the certificate (which you have forgotten to sign)
3 when they pay you then you can 'remember " to sign the document.
Everyone is happy

 

[Octopus]

Business paying at the end of the week is comon place,
Even paying at the end of the month is common
especially with larger corperate style business.
They seem to expect you to know this.
The best way around all this,
is to sort it out in the beginning,
so both sides know and agree.
If you just expect them to understand,
you could be in for a shock.

I see you state Australia as your location and it sounds like Australia has a better attitude towards paying its suppliers.

In the UK, some companies have awful reputations for delaying payment and you either chose not to deal with them or accept their terms.

Which is why I always suggest to people who ask about becoming self employed :

"and make sure you have plenty of cash in your business account so you can pay your suppliers when your customers don't pay you"

 

[richy3333]

Theres no such thing as standard payment terms/dates in the UK. For domestics and commercial agree what you want. Every customer of mine gets a copy of my terms and the payment period is 14 days. Saying that I have some customers - business and domestic that often pay before I've done the job!
With business to business in the absence of any other terms The Late Payment of Commercial Debts Regs assumes 30 days. Under these rules you are entitled to interest and additional costs for chasing debts.

 

[MG201]

The one thing that is in your hands is the certification, just state in your T&Cs that certification will be released upon full payment , also state that there is late payment charges of £x amount added to account , attach ur t&cs with every invoice , if ur working for a company your t&cs will apply if they haven’t supplied u with theirs , even if they say we pay in 60 days that is irrelevant as yours are the ones that apply in a court

 

[Toneyz]

If you have not issued the electrical certificate to the person ordering the work you have not complied with BS7671 so why should they make full payment to you. You have not fulfilled the contract by not issuing.

 

[MG201]

If you have not issued the electrical certificate to the person ordering the work you have not complied with BS7671 so why should they make full payment to you. You have not fulfilled the contract by not issuing.

In what way have you not compiled