[Majestic]

I have started to get more contract work wich means I am getting more cheques, whenI agreed to do them I new that it would be 30 days before I got paid.One of them is starting to drag it out longer     ,any tips on how to keep on top of them

[The_Fed_Man]

Send a statement immediately at the end of 30 days politely saying payment is now overdue and please send by return.  No payment after 7 days, telephone and ask where it is.  Keep following up by phone say every 7 days or so, otherwise consider cutting service, I will do this after 2 to 3 months of non payment, depending on the customer.  Some larger commercial customers only do a cheque run once or twice a month so you might have to wait till the next one.  But the key is to get your invoices out promptly and follow up.

[Majestic]

From sending my 1st invoice to payment is taking about 42 days, they say that payment is sent out 30 days from when they send the invoice to there finance department. ???I have to send my invoice to the tenancy officer who then puts it in her out tray to send to the finance department ,I cant send it direct to the finance dept as she has to sign it to say that the work has been done.It is a good paying job,  inside work that can be done even when its raining,if I want to earn 72k per year   ;DI have to keep all my work

[STEVE71163]

I have always found it a good idea to find out their cheque run date and then give a gentle reminder a few days before the run if they are over the 30 days.

Steve Lowe

[luap]

hi and hello...just found this web site......one way round this issue is to put a late payment say 15% if not paid in full in your contract.

[Majestic]

luap
Yes I think I like that idea   , I will add it in future

[STEVE71163]

The only thing i worry about putting in a late payment clause is enforsing it because if you dont their is no point in putting it in, And if you do you risk the customer going else where.   Mind you i suppose if they dont pay on time are they a customer worth having

Steve Lowe

[The_Fed_Man]

You can work it the other way, by including the surcharge in the bottom line figure and allowing the customer to deduct the discount from that to give you the settlement within 30 days figure.  But some will deduct it anyway, even though they pay late.
I have found it best to keep customers that pay on time and drop the ones that don't (after giving them several warnings).  Customers that pay late cost YOU money and usually aren't worth the hassle.  Let your competitors get tied up with them!

[Terry_Burrows]

;)the thing I do is I always invoice in the beging of every month.so by the end of the month,your money is due! when your clients I want 30 days,you say you just had it! works a treat after all gotta feed babys and wifes boys! you know it makes sense!

[STEVE71163]

Terry,
       When i went for my yearly review with my bank manager (To see if they can sell you something ) he suggested invoicing at the beginning of the contract but i didn't think it would work. Do you find they accept it OK

Steve Lowe

[Dave Anderson]

We have discussed recently and over the years many times this very common issue that plagues most of us.... Have we learnt? or do we still not see ourselves as proper business's or just cheeky chappie shiners making a few quid to get to the bookies and have a few quid spare for a pint?

[dazmond]

We have discussed recently and over the years many times this very common issue that plagues most of us.... Have we learnt? or do we still not see ourselves as proper business's just cheeky chappie shiners making a few quid to get to the bookie and have a few quid spare for a pint?

debt is just part and parcel of running any window cleaning business(in fact most businesses are owed money).just make sure your not living "hand to mouth" and sort your finances out so your not needing the money straight away.also set aside an hour or so a week to chase those debts whether its collecting or text/phone/email reminders.thats what i do anyway.

round software helps a lot with keeping debts in check.

[H2GoKent]

From sending my 1st invoice to payment is taking about 42 days, they say that payment is sent out 30 days from when they send the invoice to there finance department. ???I have to send my invoice to the tenancy officer who then puts it in her out tray to send to the finance department ,I cant send it direct to the finance dept as she has to sign it to say that the work has been done.It is a good paying job,  inside work that can be done even when its raining,if I want to earn 72k per year   ;DI have to keep all my work

That's not terrible, I usually advise people that under my Terms and conditions I can charge a late payment fee.
If you tell people you have T & C's they apply even if they never ask to see them, as long as they know they exist and they are reasonable then they apply.
I would advise that you still keep your other work going so you are not reliant on one big customer.

Always leave money in business as a cushion so that it can protect you a bit when things go wrong

[dazmond]

From sending my 1st invoice to payment is taking about 42 days, they say that payment is sent out 30 days from when they send the invoice to there finance department. ???I have to send my invoice to the tenancy officer who then puts it in her out tray to send to the finance department ,I cant send it direct to the finance dept as she has to sign it to say that the work has been done.It is a good paying job,  inside work that can be done even when its raining,if I want to earn 72k per year   ;DI have to keep all my work

That's not terrible, I usually advise people that under my Terms and conditions I can charge a late payment fee.
If you tell people you have T & C's they apply even if they never ask to see them, as long as they know they exist and they are reasonable then they apply.
I would advise that you still keep your other work going so you are not reliant on one big customer.

Always leave money in business as a cushion so that it can protect you a bit when things go wrong

have you seen the year of the post sparklebright?2003!(blame pingu for dragging this post up!)

[Dave Anderson]

 

[H2GoKent]

From sending my 1st invoice to payment is taking about 42 days, they say that payment is sent out 30 days from when they send the invoice to there finance department. ???I have to send my invoice to the tenancy officer who then puts it in her out tray to send to the finance department ,I cant send it direct to the finance dept as she has to sign it to say that the work has been done.It is a good paying job,  inside work that can be done even when its raining,if I want to earn 72k per year   ;DI have to keep all my work

That's not terrible, I usually advise people that under my Terms and conditions I can charge a late payment fee.
If you tell people you have T & C's they apply even if they never ask to see them, as long as they know they exist and they are reasonable then they apply.
I would advise that you still keep your other work going so you are not reliant on one big customer.

Always leave money in business as a cushion so that it can protect you a bit when things go wrong

have you seen the year of the post sparklebright?2003!(blame pingu for dragging this post up!)

No I didn't notice
That made me laugh.
blimey that was just after started window cleaning