VO-BB - 20 YEARS OLD!

Mike Harrison · Posted: Tue Dec 05, 2017 9:20 am Post subject: 90-day payment cycle... really?

I don't yet know for certain whether it's their standard policy, but the payment memo attached to the check I just received from a "big" company shows their accounting department received my invoice on August 28 and didn't process payment until November 30. My invoices clearly state payment is expected within 30 days of the invoice date.

Is a 90-day payment cycle becoming "normalized," or is there a friendly yet firm way of conveying that I am not a bank; that I would appreciate it if my payments were processed as requested?

Thanks.
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Tre M. · Posted: Tue Dec 05, 2017 11:30 am Post subject:

I've always wondered that....my smaller clients will pay me within days, no longer than a week. I've done narration for Pfizer and you gotta call The Treasury Department to get paid. Do they not budget their expenses out in advance?
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todd ellis · Posted: Tue Dec 05, 2017 12:13 pm Post subject:

a lot of corporate stuff is 90 days. "it's our policy". as long as i know about it ahead of time, i'm cool with it. i'll need money in march too.
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Philip Banks · Posted: Tue Dec 05, 2017 12:41 pm Post subject:

My receipt policy is "While THEY have it I can't spend it"

Trust me, that is a good thing.

People either DO pay or they don't pay. I keep my business DO heavy.

90 days. HOORAH! I like Easter Eggs.

Yonie · CM Joined: 31 Aug 2011 Posts: 906

It's an asset, though not immediately available as liquid funds. Some companies do it because they handle invoices on a quarterly basis, while others do it monthly. I don't know the exact reason for a 90-day window, but it does guarantee an overlap between two financial quarters.

Bruce · Posted: Tue Dec 05, 2017 4:42 pm Post subject:

My average on everybody is about 45 days from invoice date. My average on total number who eventually pay me is running 99.9%, so I guess I can't complain. And yes, it's usually the smaller clients who can't seem to zip a check or PayPal payment to me fast enough. Gor luv em.

B
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Eddie Eagle · M&M Joined: 23 Apr 2008 Posts: 2393

Always negotiate terms when starting a new client relationship.

Lizden · Posted: Wed Dec 06, 2017 11:04 am Post subject:

Yeah, all my invoices say "Due on Receipt" but I have client payment cycles that go from 3 days to 3 months.
The larger the corp, the longer the wait. Although I have a few larger corps who pay within a couple of weeks.

You can always ask, but if that's their "policy" good luck trying to change their process just for you.
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