WHEN IS 30 DAYS PAYMENT REALLY 45+ DAYS?
Let me explain... I did some work for a company in the St Helens area who told me they pay on 30 days from invoice.
I received a typical job with all the relevant addresses. I was told i should self-bill on receipt of their purchase order. Without their order reference i cant invoice. 3 days after the job i receive an email with the information. I invoiced them immediately and sent First class post ... (Remember they pay 30 days from receipt of invoice which took 5 days to reach them). But... They also have a clause that states payment will be made on the 1st friday following 30 days of the invoice received.
So in summary:
- A job done on the 1st of september will be invoiced on the 4th of september
- The invoice will be received on the 9th of september
- The 30 days payment terms will begin on the 10th september
- Payment will be made on the next friday following the 30
- Payment expected on the 17th of October
- 47 days after completion of the job !!!
I no longer work for this company