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Warning: payment terms of "net 30" mean nothing if you don't enforce them
Lost a $1,200 invoice to a client in Denver who just kept saying "check is in the mail" for 4 months. Finally realized the problem was me - I had net 30 on the invoice but never actually followed up on day 31. What tipped me off? The client admitted they paid everyone else first who had stricter terms. Has anyone else had success switching to net 15 or charging interest after 30 days?
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sethm583mo ago
Forgot to clarify that net 30 means payment is due 30 days after the invoice date, not after you send it. A lot of folks miss that detail and end up waiting way longer than they should.
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corap613mo ago
Call net 30 what it really is then - a trap for the unwary who don't read the fine print. Why should a seller get to decide when the clock starts ticking when most small businesses are just trying to get paid for work they already did? If I finish a job today and send an invoice three weeks later, that's almost two months before I see a dime under your definition. The buyer should have a say too, not just the person holding the invoice.
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faith273mo ago
My uncle Bob used to call net 30 "the slow dance of small business" after he waited almost 90 days for a payment once and swore the invoice got lost under a coffee cup. Ever have a client blame your own handwriting for the delay?
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