So how long do you wait for payment receipt before it's time to contact the customer or send another bill for non-payment on the first bill?
Thankfully I haven't had to deal with this...yet, but curious at your process.
So how long do you wait for payment receipt before it's time to contact the customer or send another bill for non-payment on the first bill?
Thankfully I haven't had to deal with this...yet, but curious at your process.
For me it depends on the client. After working with them for awhile I have a good sense of how long they usually take to pay the bill. I have no set process in place for when to send a second invoice. I generally don't have to send it at all. When I do it's usually a few weeks after I expected to receive payment or at a time when we happen to be communicating about something else.
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i dont give homeowners credit-i collect the $ when the jobs done.
i give 30 days to pay to contractors. I usually send a reminder on day 37 (late notice)
sometimes i give a phone call along with it
day 55 gets a phone call to my lien service to get that end going.
i call or mail over due notices weekly on late payments
my contract says 1.5% interest after 30....i may start doing it.
im lucky that 90% of my customers pay on time...i havent chased money since late winter.
This depends on your type of business. We send an invoice when the bill is due. We also send monthly statements that show the activity for the month and unpaid charges.
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I'll usually send a statement (with a finance charge assessed) about 5-7 days after the due date. I have a few clients who will pay 3 months later, but they are assessed finance charges along the way. Luckily they aren't making or breaking the bank.
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