Invoicing

[sha512]

Hi Guys,

One of my bosses sometime ago suggested I place a 'Payments must be made within 14 days' clause at the bottom of the invoice.

My Q is can I decrease the time ? To 7 working days for example ?

[SimonMac]

Hi Guys,

One of my bosses sometime ago suggested I place a 'Payments must be made within 14 days' clause at the bottom of the invoice.

My Q is can I decrease the time ? To 7 working days for example ?

I think the standard is 30 days by law, its not cricket to do any less although payment terms should be in the contract rather than left just on the invoice

[blacjac]

You can put what you like on there, its your invoice....


You could put "Payments must be made within 21 seconds of receipt of this invoice, in cash - used notes only" if you really wanted to.

As above though, pretty meaningless if your contract states payment terms are 30 days....

[SueEllen]

My Q is can I decrease the time ? To 7 working days for example ?

As the others have said your payment terms should match your contract terms. You can put them on the invoice I always do as it's a remainder to me more than anything else.

It may be worth having a look at Pay on Time to give you an idea of what you can do if you have a difficult late payer.

[tranceporter]

agree with above.. in my case, the contract states that I will be paid 15 days after acceptance of the invoice/approval of timesheet.
That being said.. I think it also depends on how your relationship is with your agency. In my wife's case, even though the payment terms are every 30 days, they offered to pay her every 2 weeks for the first month, to cover the expenses for setting up the company etc. After that it was regular 30 days. Also, as far my experience goes with my agency, the client always pays the agency after 30,45 or even 60 days. So its the agency which actually pays you first from their pocket, and they get re-imbursed later by the client for the work you have done. This might not actually pertain to your question.. but then it is new concept to me, that you can alter contract terms by mentioning the pay date on invoice..

[eggtastico]

I put 'payment due on receipt of invoice'.
Ive only done a few ad-hoc work, but make sure I am aware
of the agencies payment policy & terms.