[gwrightson]

Thought I would try the discount approach on commercial invoices, a regular custy normaly pays anywhere from 1 to 2 months after receiving invoice, always a cheque , so thought i would give them the option of paying sooner.
basicly on my invoice I stated. " A 5% discount is offered if payment is recieved within 7 days of invoice date" stating thefull amount and the discount rate.

Had a call today from the accounts dept asking for my bank number so could pay straight away by bacs.
only posted on friday

seems every little helps

geoff

[derek west]

i do 10% off on completion of job. (same day payment)
so far a cheque at the end of every job
i know its quite alot but its worth a stress free life, and no call backs, reminder letters and all the rest that comes after that. with businesses folding quicker than an origami instructor i think its worth it.
derek

[daysdeepclean]

I'm doing a job for £400+ on Wednesday and the owner was chuffed to see that I give commercials 30 days to pay up... I'll be certainly offering the 5% off/7 days trick!!! Never thought of that Goeff, I learn something every day on here!

Cheers!!!!

[dave123]

Alternately you could add 5%-10%if not paid within 28 working days .That works as well 

[clinton]

Always think why do commercials take so long to pay

Why shouldnt they pay us straight away..

[Doctor Carpet (Ret'd)]

Been doing it for years-I'm not an ex-banker for nothing!

[daysdeepclean]

Alternately you could add 5%-10%if not paid within 28 working days .That works as well 

Brilliant

[Doctor Carpet (Ret'd)]

Alternately you could add 5%-10%if not paid within 28 working days .That works as well 

Brilliant

Even better, abd far more subtle: if you know they are slow payers, add on 5-10% to the initial bill but generously offer the discount for prompt payment. That way there is less hassle chasing the larger amount when payment is slow and forthcoming AND you have also built in already the costs of chasing.

[DanielWelford]

I dont give any credit to new customers, but existing contracts get 28 days, but get charged an extra 50% if late. They always pay on time. (Those that pay that is). 

Dan

[gwrightson]

To be perfectly honest with you , I really dont fancy the idea of adding a percentage on if they are late,

yes it sounds ok, but I dont want to upset my custys by charging them extra, sometimes they have just needed reminding, sometimes they plain forget  but what ever the reason , putting it into practice imho is asking them to look elswhere to have the work done .
When do you enforce the extra charge? a day late, a week late ?

No ill, stick with 5% off if paid in full .

geoff

[daysdeepclean]

Makes a lot of sense Geoff!