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Client wants to relax invoice frequency

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  • VectraMan
    replied
    Originally posted by Lance View Post
    An awful lot of people seem to not realise there is risk. I guess they either don't understand what limited liability means, or think it's only a one-way restriction of liability.

    I used to run a proper business and bad debt nearly drove us to bankruptcy on more than one occasion. And that was with full delivery notes, POs and invoices.

    Another risk is that the client just refuses to pay. Taking them to court can be costly and take months and it's not like you can take back services that haven't been paid for.
    Yes I lost a month's money with a direct client that didn't have the deep pockets he'd claimed. It was fortunate that I and others realised what was happening or it would have been 2 months. I then wasted another £500 getting a CCJ.

    Leave a comment:


  • northernladuk
    replied
    Originally posted by LondonManc View Post
    Why don't you read an opening post properly? It's not as if Bee wrote it.
    I did but that paragraph is talking about Elliegirls who IS through an agent. Backattcha sonny boy.

    Leave a comment:


  • MrMarkyMark
    replied
    Originally posted by Lance View Post
    An awful lot of people seem to not realise there is risk. I guess they either don't understand what limited liability means, or think it's only a one-way restriction of liability.

    I used to run a proper business and bad debt nearly drove us to bankruptcy on more than one occasion. And that was with full delivery notes, POs and invoices.

    Another risk is that the client just refuses to pay. Taking them to court can be costly and take months and it's not like you can take back services that haven't been paid for.
    I've said on here, before, right when I first started I saw 2 contractors "lose" 2 months money as an agent went under.

    No one is too big to fail as we have witnessed a number of times in the last 10 years.

    Leave a comment:


  • Lance
    replied
    Originally posted by VectraMan View Post
    There's a risk of course,
    An awful lot of people seem to not realise there is risk. I guess they either don't understand what limited liability means, or think it's only a one-way restriction of liability.

    I used to run a proper business and bad debt nearly drove us to bankruptcy on more than one occasion. And that was with full delivery notes, POs and invoices.

    Another risk is that the client just refuses to pay. Taking them to court can be costly and take months and it's not like you can take back services that haven't been paid for.

    Leave a comment:


  • BlasterBates
    replied
    I would go for monthly time sheets and invoicing, I can see he's going to bin you at the next renewal if he has to sign weekly time sheets and fortnightly invoices.

    Leave a comment:


  • VectraMan
    replied
    If he's trying to save on pointless admin he probably won't be happy with you waving a timesheet under his nose every Friday.

    And I can't see much point in worrying about weekly invoices if you have 28 day payment terms.

    I'm direct; invoice monthly, 28 days, no timesheets. There's a risk of course, but I'm not a student on a summer temp job; it's a business to business relationship.

    Leave a comment:


  • Fronttoback
    replied
    Originally posted by northernladuk View Post
    There is another thread mentioning weekly pay and Elliegirl is all giddy and happy about it. I just don't get it. As long as you are happy with the exposure to the agent who cares when you get paid?
    I had three months exposure to an agent once. I was not happy about it- was quite stressful. I didn't want to wind up the gig in case they made it hard to get my money out. I got it all in the end. But another colleague told me he lost a couple of months cash when an agent went under in similar circumstances.

    One week pay cycle is perfect. Max loss one week if it blows up. No need to keep the agent sweet. Yes, I know you can go to small claims court but it's hassle.

    Leave a comment:


  • Lance
    replied
    Think more business to business. And less like a jobbing contractor.

    At the start of each month get a PO for 1 month of services.
    Invoice weekly as you deliver services (get something signed though even if it's a receptionist to say you wree there).
    They can then pay as often as they wish. Probably monthly.

    If you have a PO, some form of proof of delivery (timesheet, delivery note, etc.), and a valid invoice raised after delivery then you have full legal recourse.

    Leave a comment:


  • LondonManc
    replied
    Originally posted by northernladuk View Post
    Why don't you just don't properly and do a monthly invoice that matches a signed tinesheet and bobs your uncle. Sounds like a right bloody mess.

    How big is the company and how sure are you they are going to pay.

    There is another thread mentioning weekly pay and Elliegirl is all giddy and happy about it. I just don't get it. As long as you are happy with the exposure to the agent who cares when you get paid?
    Why don't you read an opening post properly? It's not as if Bee wrote it.

    Leave a comment:


  • ShandyDrinker
    replied
    Originally posted by TheBA View Post
    I'm a few weeks into a direct contract and between myself, their HR guy and lawyer we agreed a contract which allowed for weekly invoices and 28 day payment terms, no timesheet.
    Originally posted by northernladuk View Post
    Why don't you just don't properly and do a monthly invoice that matches a signed tinesheet and bobs your uncle. Sounds like a right bloody mess.

    How big is the company and how sure are you they are going to pay.

    There is another thread mentioning weekly pay and Elliegirl is all giddy and happy about it. I just don't get it. As long as you are happy with the exposure to the agent who cares when you get paid?
    Unless I misread the original post it is direct with no agent involved.

    Per NLUK signed timesheets would probably go a long way to sorting out the issue.

    It all depends on your attitude to credit risk. As you say they do 2 payment runs a month I'd see if they'll compromise on twice monthly invoicing (as you suggest) to keep the credit risk to a minimum.
    Last edited by ShandyDrinker; 28 October 2016, 08:13.

    Leave a comment:

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