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Invoicing Frequency

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    Invoicing Frequency

    Just a quick one, how often do people here invoice and what (generally) are your payment terms?

    (am prepared for the anti-newbie onslaught)

    #2
    Two schools of thought:

    1) Whatever you agree with the agency (or, more likely, whatever the agency tells you i.e weekely, monthly).

    2) When you deliver something or every 3 months etc.

    It'll probably be number 1.

    Payment terms are again, whatever agreed. 30 days is typical (if you're going direct clients generally take longer to pay, part of the agency work is paying you before they get paid). Aqaint yourself with payontime.co.uk and make sure to add your terms to the invoice.

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      #3
      thanks, helps quite a bit.

      what is the general experience? weekly, fortnightly or monthly?

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        #4
        Invoice Monthly
        Payment within 14 days
        Cenedl heb iaith, cenedl heb galon

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          #5
          Invoice whenever I can be arsed, usually 2-3 weeks.

          I confirmed at the beginning of the contract that they were fully BACSed up and can deal with whatever frequency I like, even weekly if I was a paperwork fetishist. As long as I have the invoice (and supporting timesheets) in by the tuesday they always pay by the friday.

          I'd rather have as little exposure of unpaid invoices as possible so fortnightly does for me. Get your money earning interest in your own account, not your agents!
          "If it floats, flies, or f***s, lease it." - Evel Knievel when he wasn't jumping buses or women

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            #6
            With agencies that I've worked with in the past it's been anything
            from weekly to monthly, going direct with employers it's ranging
            from about monthly to quarterly!

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              #7
              Does anyone here think that regular monthly invoicing could weaken your case against a charge of being inside IR35?

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                #8
                Originally posted by ittony
                Does anyone here think that regular monthly invoicing could weaken your case against a charge of being inside IR35?
                Yes, I expect somebody will think that.

                Pesonally I doubt it, but in this fantasy land nobody really knows what arguments an inspector may dream up.

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                  #9
                  Originally posted by ittony
                  Does anyone here think that regular monthly invoicing could weaken your case against a charge of being inside IR35?
                  It shouldn't. If you're a permie you get a payslip. As a contractor, especially if you're a limited co, your invoice is classed as a P&L Sales.

                  On the question of invoicing, yes some agencies do weekly or fortnightly or monthly and should state in the contract the payment date.

                  Every invoice I submit includes a term along the lines of "This payment is due by [insert agreed date]. Late payment shall attract a 2% Late Payment Fee and a further 2% of balance per 30-day delay in payment"

                  Some agencies try and argue that I can't do that, so my counter argument is that the agency is in breach of contract for not paying me on the date they stated. Shall I **** off now, leave your client in the sh1t and then we can go to court to see who's right?

                  Works every time. Though some agencies ar scummy enough to pass my late payment fee onto the client without the client realising it.

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                    #10
                    And the rest do it without you knowing about it!
                    "If it floats, flies, or f***s, lease it." - Evel Knievel when he wasn't jumping buses or women

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