Michael, in part I agree. That said, I believe that the common payment terms are typically due on receipt, 2% 10 days, net, or a specified due date, or net 30. I simply don't use net 30 since that will ensure my invoices will be put into the stack of invoices to pay later. If it's due on receipt, and the company cuts check twice a month, for example, it could fall into the most current check run rather than being held. It's all about cash flow and cash management. I'd much rather give my invoice a higher probability that it will be paid sooner rather than later, and due on receipt accomplishes that, in my opinion.
Rachel Foerster 847-872-8070 From: [email protected] [mailto:[email protected]] On Behalf Of Michael Mattias/LS Sent: Saturday, April 09, 2011 4:57 PM To: EDI-L Subject: Re: [EDI-L] <MISC> - To all Contractors out there >Rich, what's wrong with payment terms of "due on receipt" - why do you give >them 30 days after receipt? I don't know about Rich, but... I give net 30 because I find it just such a wonderful coincidence that then payment is due the very same day the user's period to report problems - his warranty period - ends. Isn't that simply so convenient for everyone? Besides, businesses can't pay 'net on receipt' anyway. About the fastest I have ever experienced is eight calendar days or so. (Open mail, get to right person to approve, send to A/P for entry, wait for next check run, etc etc etc). I really do not want to ask my customers to treat me differently from any other vendor. Michael C. Mattias Tal Systems Inc. Racine WI_,_.___ Reply to <mailto:[email protected]?subject=Re%3A%20%5BEDI-L%5D%20%3CMISC%3E%20 -%20To%20all%20Contractors%20out%20there> sender | Reply to <mailto:[email protected]?subject=Re%3A%20%5BEDI-L%5D%20%3CMISC%3E%20-%2 0To%20all%20Contractors%20out%20there> group | Reply <http://groups.yahoo.com/group/EDI-L/post;_ylc=X3oDMTJxbGNhMTg5BF9TAzk3MzU5N zE0BGdycElkAzIxMDc2NzYEZ3Jwc3BJZAMxNzA1MDA1NTgyBG1zZ0lkAzMwMjM2BHNlYwNmdHIEc 2xrA3JwbHkEc3RpbWUDMTMwMjM4NjI0Mg--?act=reply&messageNum=30236> via web post | <http://groups.yahoo.com/group/EDI-L/post;_ylc=X3oDMTJlYmUzNm1jBF9TAzk3MzU5N zE0BGdycElkAzIxMDc2NzYEZ3Jwc3BJZAMxNzA1MDA1NTgyBHNlYwNmdHIEc2xrA250cGMEc3Rpb WUDMTMwMjM4NjI0Mg--> Start a New Topic Messages in this topic <http://groups.yahoo.com/group/EDI-L/message/30183;_ylc=X3oDMTM2bnQ5NDFmBF9T Azk3MzU5NzE0BGdycElkAzIxMDc2NzYEZ3Jwc3BJZAMxNzA1MDA1NTgyBG1zZ0lkAzMwMjM2BHNl YwNmdHIEc2xrA3Z0cGMEc3RpbWUDMTMwMjM4NjI0MgR0cGNJZAMzMDE4Mw--> (39) Recent Activity: . <http://groups.yahoo.com/group/EDI-L/members;_ylc=X3oDMTJmZjkxNWxiBF9TAzk3Mz U5NzE0BGdycElkAzIxMDc2NzYEZ3Jwc3BJZAMxNzA1MDA1NTgyBHNlYwN2dGwEc2xrA3ZtYnJzBH N0aW1lAzEzMDIzODYyNDI-?o=6> New Members 3 <http://groups.yahoo.com/group/EDI-L;_ylc=X3oDMTJlNThmdTZxBF9TAzk3MzU5NzE0BG dycElkAzIxMDc2NzYEZ3Jwc3BJZAMxNzA1MDA1NTgyBHNlYwN2dGwEc2xrA3ZnaHAEc3RpbWUDMT MwMjM4NjI0Mg--> Visit Your Group ... Please use the following Message Identifiers as your subject prefix: <SALES>, <JOBS>, <LIST>, <TECH>, <MISC>, <EVENT>, <OFF-TOPIC> Job postings are welcome, but for job postings or requests for work: <JOBS> IS REQUIRED in the subject line as a prefix. <http://groups.yahoo.com/;_ylc=X3oDMTJkc202MGZuBF9TAzk3MzU5NzE0BGdycElkAzIxM Dc2NzYEZ3Jwc3BJZAMxNzA1MDA1NTgyBHNlYwNmdHIEc2xrA2dmcARzdGltZQMxMzAyMzg2MjQy> Yahoo! Groups Switch to: <mailto:[email protected]?subject=Change%20Delivery%20Format :%20Traditional> Text-Only, <mailto:[email protected]?subject=Email%20Delivery:%20Digest> Daily Digest . <mailto:[email protected]?subject=Unsubscribe> Unsubscribe . <http://docs.yahoo.com/info/terms/> Terms of Use . <http://geo.yahoo.com/serv?s=97359714/grpId=2107676/grpspId=1705005582/msgId =30236/stime=1302386242/nc1=1/nc2=2/nc3=3> [Non-text portions of this message have been removed] ------------------------------------ ... Please use the following Message Identifiers as your subject prefix: <SALES>, <JOBS>, <LIST>, <TECH>, <MISC>, <EVENT>, <OFF-TOPIC> Job postings are welcome, but for job postings or requests for work: <JOBS> IS REQUIRED in the subject line as a prefix.Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/EDI-L/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/EDI-L/join (Yahoo! ID required) <*> To change settings via email: [email protected] [email protected] <*> To unsubscribe from this group, send an email to: [email protected] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
