Reply to: Weekly invoicing… not that popular with agencies now..??

[TraceRacing]

ok thanks! I checked with the agent and got an email saying "submit by Monday, in my account on Friday"....so that's good!

[Wobblyheed]

Is this normal for Elan as I have a contract thru them starting soon and need to understand how it works...? The contract is tough to read at that part...

My other gig with Elan was timesheets/invoice weekly but paid monthly - they would send you a list of the monthly paydays for that year (some were 5 week months).
So it probably depends on which Elan agent you deal with.

[RasputinDude]

Can't say that I've ever NOT been paid weekly. Although when I was direct with one company they paid me a day late for over a year - and I charged them for that late payment - and they paid it! But they are idiots.

[MarillionFan]

Mmm.

When I negotiate contracts
and terms I insist on weekly payment. Have done for years.

If the agency says 'we pay monthly' or equivalent I always reply the same. 'My Ltd
invoices weekly. We are not willing to take the risk on placing a consultant(me) for a month and taking the risk
on non payment, bankruptcy or
other issues. This is a showstopper'

I find agencies always change their
terms. (might just me be though)

[Wanderer]

whats the point in invoicing weekly if you are paid only monthly..???

As Wobblyheed says, it's not getting paid monthly (eg on a certain day every month), it's getting paid 28 days after you invoice.

If I invoice monthly on 28 day terms then I'm extending up to 58 days worth of credit to the agency.

If I invoice at the end of every week on 28 day terms means I'm giving them up to 35 days credit which lowers the risk to my business. It also means that I'm getting cashflow weekly so I can keep an eye on the agency and rattle their cage if they don't pay promptly.

[oversteer]

Weekly invoicing and payments here. Agency always prompt, and have been forgiving with late timesheets on a few occasions!

[TraceRacing]

Elan did this to me on one gig. Your first weekly invoice is paid after 30 days then your second invoice is paid the following week. So you get paid weekly but its a month in arrears...

Is this normal for Elan as I have a contract thru them starting soon and need to understand how it works...? The contract is tough to read at that part...

[Wobblyheed]

whats the point in invoicing weekly if you are paid only monthly..???

Elan did this to me on one gig. Your first weekly invoice is paid after 30 days then your second invoice is paid the following week. So you get paid weekly but its a month in arrears...

[Wobblyheed]

Not had any problems with weekly invoicing and weekly payment. All my gigs have been invoice by Tuesday midday, paid first thing on Friday.

Ditto...last 3 contracts. In fact thinking about it, since I started contracting in 2004 only Elan made me invoice monthly.

[Darren_Test]

It varies. At the moment I invoice weekly and get paid after 30 days.

.

whats the point in invoicing weekly if you are paid only monthly..???

[Darren_Test]

I invoice weekly, but the terms with the agent are 30 days. Their times with the end client are 45 days.

Whats the point in invoicing weekly if you are paid only monthly..???

[craig1]

Last two contracts have been:

- weekly invoicing, if in by Wednesday then paid by Friday.
- currently weekly invoicing with contracted 7 day terms, the agency actually pays on 4 day terms because of some early problems and they want to ensure I get my money on time (mainly to stop me calling and grumbling at them!)

[Scrag Meister]

After an initial 6 week wait when I started, my terms are self billing, around the first Wed of each month and paid by the 21st ish.

I went direct and all is working smoothly so far. Agent is not factoring and waiting for client to cough up.

[Wanderer]

Just wondering how many here are on weekly invoicing contracts..??

It varies. At the moment I invoice weekly and get paid after 30 days.

I'd probably accept monthly invoicing on 7 day payment terms but not any longer than that.

If the agency won't budge on 30 day payment terms then I'm invoicing weekly.

You need to look at how much "credit" you are extending to the agency and ask yourself if you should be allowing another business that much credit.

One of the agencies main roles is to factor the client's payments for you so if they can't give you reasonable payment terms then they aren't doing their job.

[BolshieBastard]

My new contract is weekly self billing with weekly pay. Last agent used to make you wait over 5 weeks for the money.