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Tedius


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Payment terms?
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I'm in the process of taking my ICB quilifications and what to start my own business once I'm done, and I was just wondring what is the normal payment terms people use when dealing with their clients?

Thanks

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Wella


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For me it is normally payment on invoice.

I normally collect client paperwork within the first 10 days of the following month, complete the bookkeeping and  present my invoice when I collect the next months paperwork,

Example, collect Decembers paperwork on 10 January, complete the bookkeeping, deliver Decembers paperwork back and present my invoice on the 10th February, collect Januarys paperwork. The cycle goes on.

I have not had any objections to this.

Bill



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HendyPhilhendy


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I use 14 days for invoiced work; however, most of my clients pay on a monthly standing order.

I think it is worth doing a credit assessment on each client and setting appropriate limits.

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Donna CBK


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I do 7 days and check paid approx 7 days prior to payroll, then give a little reminder.

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gbm


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Same as Phil, 14 days. However, bear in mind that giving credit is a risk. Bill's habit is very good.

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Amanda


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I do 7 days and so far been ok, most pay before 7 days with BACS, I only have one who is a cheque, and because its very little that I do, I invoice her every other month and hand her the invoice when I am there and she writes out a cheque there and then.

I use to have one really bad payer and due to alot of other issues with them I ditched them!!!!
-- Edited by Amanda on Friday 25th of February 2011 10:00:10 PM

-- Edited by Amanda on Friday 25th of February 2011 10:00:46 PM

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