First invoice payment

[craig1]

I'm due payment on my first invoice at my new contract on Monday so, following my usual process for a new agency, I contacted them today to see if the BACS payment had been made as today's the deadline for BACS to ensure I receive it on time.

I have absolutely no tolerance for late payment and if I don't get payment before COB Monday then I'll be starting my "late payment" process. I have some sympathy for the smaller agencies due to not many people covering the AP role but the larger agencies have no excuse.

That had me thinking, what if the agency didn't pay on time for this first invoice? It would be interesting to see what people would do and how long they'd go before withholding labour for non-payment. Personally, I'd go either one week over or two invoices unpaid before I told the client that I was going to withdraw my services for non-payment.

[JamJarST]

I'm due payment on my first invoice at my new contract on Monday so, following my usual process for a new agency, I contacted them today to see if the BACS payment had been made as today's the deadline for BACS to ensure I receive it on time.

I have absolutely no tolerance for late payment and if I don't get payment before COB Monday then I'll be starting my "late payment" process. I have some sympathy for the smaller agencies due to not many people covering the AP role but the larger agencies have no excuse.

That had me thinking, what if the agency didn't pay on time for this first invoice? It would be interesting to see what people would do and how long they'd go before withholding labour for non-payment. Personally, I'd go either one week over or two invoices unpaid before I told the client that I was going to withdraw my services for non-payment.

You start chasing for money before it is due

[Wobblyheed]

I'm due payment on my first invoice at my new contract on Monday so, following my usual process for a new agency, I contacted them today to see if the BACS payment had been made as today's the deadline for BACS to ensure I receive it on time.

I have absolutely no tolerance for late payment and if I don't get payment before COB Monday then I'll be starting my "late payment" process. I have some sympathy for the smaller agencies due to not many people covering the AP role but the larger agencies have no excuse.

That had me thinking, what if the agency didn't pay on time for this first invoice? It would be interesting to see what people would do and how long they'd go before withholding labour for non-payment. Personally, I'd go either one week over or two invoices unpaid before I told the client that I was going to withdraw my services for non-payment.

I think I'd wait and see if the payment is made before coming on here and having a rant about something that hasn't happened yet

[craig1]

I think I'd wait and see if the payment is made before coming on here and having a rant about something that hasn't happened yet

Wasn't a rant... just a hypothetical train of thought brought on by experience of agencies! Until I've a few on-time payments under my belt, I'm always excessively paranoid about agencies messing up payment.

[northernladuk]

I think I'd wait and see if the payment is made before coming on here and having a rant about something that hasn't happened yet

This is more my approach. I also like to think I could be reasonable depending on circumstance of the payment being late. This doesn't mean roll over when they constantly screw up but the first payment is nearly always a problem from my experience. Little things like the BAC's going out on the friday like last month and not appearing until the 1st (Monday) just due to the weekend I can suffer which I know others won't etc.

[Spacecadet]

You start chasing for money before it is due

if I'm on 30 days terms and it's the first invoice then I usually send a polite reminder a few working days before payment is due.

30 days should be a limit not a target

[Acme Thunderer]

Firm but polite

Had it happen to me. Due to be paid weekly on a Friday and wasn't.

Phoned the agency accounts department on the Friday afternoon saying I hadn't been paid when due to and asking was there a problem. Turns out they were missing some contract paperwork from the client and there internal rules said I couldn't be paid until they had it.

I phoned my agent and told him the story and reminded him that the contract was between My Ltd and the Agency. If they were short of something from client then that should not affect them paying me.

Was added to that days payment-run and received money couple of days later.

[SueEllen]

I think I'd wait and see if the payment is made before coming on here and having a rant about something that hasn't happened yet

Agreed.

It's when they are late with 2 payments you need to find out what is the problem.

With agencies they shouldn't be late with payments except if there is an issue with how their and your banks process BACS. However it this happens they will always be late by one or two days not weeks.

[JamJarST]

if I'm on 30 days terms and it's the first invoice then I usually send a polite reminder a few working days before payment is due.

30 days should be a limit not a target

Well if all my creditors, both personal and business did that to me I would politely tell them to take a running jump Do you take calls from your bank reminding you the mortgaage is due or the council 5 days before the council tax should be paid ???

A payment term is most definitely a target, any AP controller worth their salt will be looking to pay at the best terms for their business.

[SueEllen]

A payment term is most definitely a target, any AP controller worth their salt will be looking to pay at the best terms for their business.

Which is as late as possible for large business and HM Government Agencies.

There as small businesses know if they screw people over they are likely to get burnt themselves.