Invoicing Frequency

[marcosscriven]

I invoice as soon as possible - firstly its money in the bank, and while its unlikely your company will go bust, it also means you minimise arrears.

Say your rate is X per week, and you only invoice every 3 months, when you could every week, you'd be losing about 1.3% interest on it (assuming you can get a rate of 5.5% per year)

[ittony]

I invoice as soon as possible - firstly its money in the bank, and while its unlikely your company will go bust, it also means you minimise arrears.

Say your rate is X per week, and you only invoice every 3 months, when you could every week, you'd be losing about 1.3% interest on it (assuming you can get a rate of 5.5% per year)

True, although I can't help thinking that if you are drawing a regular monthly salary from your company yet your company is invoicing clients less frequently and at irregular intervals, particularly if based on project milestones, then I can't see how anyone could reasonably claim you are acting as an employee of anyone but your own company.

[mailric]

HAYS IT - invoice weekly and payment terms within 7 days.

[Sockpuppet]

Just a quick one, how often do people here invoice and what (generally) are your payment terms?

(am prepared for the anti-newbie onslaught)

Every 5 minutes. Payment terms of half an hour.

Threaded.

[NotAllThere]

HAYS IT - invoice weekly and payment terms within 7 days.

Hays IT Switzerland. Invoice monthly, payment with 45 days. But if you offer a discount, they'll pay quicker...

[BrowneIssue]

I remember when Plexian went bust. Nobody got paid.

One bloke hadn't bothered to raise an invoice for 3 months.

He thought the world had ended. His wife probably arranged it so that it did end.

Anyone who has seen an agency go down invoices frequently.

Terms: 28 days then charge interest - non-negotiable (it's effectively the law anyway).

I tend to invoice weekly even when the contract says monthly, then ignore the complaints. Normally I get away with it; they just give up and conform.

DO NOT SIT ON UNSENT TIMESHEETS. SEND THE INVOICE.

(Alternatively, if you are so keen for your ltd co to give interest free loans, can I have £25k to tide me over until I get my next contract, please? And if you wont do i for me, why would you do it for an agency?)

[DiscoStu]

Wow, this thread is ancient

[oracleslave]

Wow, this thread is ancient

Indeed.

[Jason]

Invoice every 2 weeks, bog standard 28 day terms

[Dark Black]

Invoice weekly - I want the money out of the agency and into my company as soon as possible.

1. Gains more interest that way.
2. Limits potential losses from agency/client going t!ts up to maximum of a week.