Good God, Pay Me Already

 
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Old 01-02-2014, 11:25 AM   #1
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Good God, Pay Me Already


This goes for everyone.

Just give me my money!

Trying to wrestle a couple hundred dollars out of a corporation is the most annoying thing on Earth. I don't know how some of you guys that only work commercial deal with this. When they owe you, everything has to go through channels and be "processed". What on Earth does that even mean? I handed you an invoice, write me a check. Make a note that you wrote the check. How hard is that? Go to hell with your billing cycles that I always happen to have "just missed" despite having billed on the 1st, 5th, 15th, and 25th. Ugh.

Ok I'm done. Sorry.
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Old 01-02-2014, 11:30 AM   #2
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Re: Good God, Pay Me Already


I feel ya. I'm juggling with forming my business and going the resi or commercial route. I currently work for a commercial outfit and you're almost a financier for some customers. We did a large job for the worlds largest retailer, and he's still wrestling for the final payment. This was 5+ months ago since invoice.

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Old 01-02-2014, 11:37 AM   #3
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Re: Good God, Pay Me Already


As a glorified handyman, this stuff is very annoying to me. This particular customer only calls when they need it done immediately. I love those conditions because I always get the job and they never balk at my (always very reasonable) price. For bigger jobs we draw up a contract and they agree to my balance due upon completion terms. Job is completed, balance is paid... whenever they feel like it. They give me a decent amount of work so I try not to rock the boat. Sometimes I nudge and get the "processing" response. They know they've got me. I'm not going to sue them. I'm not even going to say anything overly pushy to them because again, I don't want to rock the boat. Here I sit, waiting patiently.
This one is particularly annoying because we're talking about $250 bucks. F'n 250 dollars. Shouldn't there be a petty cash draw full of 20s that they could just throw on the ground and make me scrape up on my hands and knees in front of them? I'd be fine with that.
This job was finished on the 5th. Materials were minimal, helper pay was minimal, but they still came out of my pocket. Just got the "processing" email today stating it would take another 1-2 weeks. That's 6 weeks for $250. Come oooooooon.
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Old 01-02-2014, 11:46 AM   #4
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Re: Good God, Pay Me Already


offer a 2% discount for 10 day net.
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Old 01-02-2014, 11:48 AM   #5
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Re: Good God, Pay Me Already


No. Then the terrorists win.

I'll just mark the next one according to what interest I lost from them holding my money.

Oh wait, that would be nothing because my bank just serves as a slightly more secure mattress to hide my money in and doesn't actually give me interest.

Jesus, I'm cranky.
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Old 01-02-2014, 11:48 AM   #6
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Re: Good God, Pay Me Already


Yeah, I can imagine it's a huge PITA... I'm only an employee now, but I've seen it putting stress on my employer, waiting to be paid. Hope you get your $.
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Old 01-02-2014, 11:57 AM   #7
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Re: Good God, Pay Me Already


what about something in your next contract with them about timely pay outs or accrued interest owed...the longer they take to pay, the more they owe....
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Old 01-02-2014, 12:08 PM   #8
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Re: Good God, Pay Me Already


They'll skate everything out like it's net 60 terms of you don't have a discount clause. 10% on net 15 days isn't unusual. You actually get to charge for your time rebilling.
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Old 01-02-2014, 12:24 PM   #9
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Re: Good God, Pay Me Already


Quote:
Originally Posted by Easy Gibson View Post
No. Then the terrorists win.

I'll just mark the next one according to what interest I lost from them holding my money.

Oh wait, that would be nothing because my bank just serves as a slightly more secure mattress to hide my money in and doesn't actually give me interest.

Jesus, I'm cranky.
Not if you raise your rates accordingly
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Old 01-02-2014, 12:37 PM   #10
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Re: Good God, Pay Me Already


This year, when doing proposals I am going to offer discounts based on payment promptness.

For example, $50 off if paid in full immediately upon completion.
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Old 01-02-2014, 12:39 PM   #11
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Re: Good God, Pay Me Already


I feel ya. My best customer is a restaurant that lets me come and go as I please to get the work done, doesn't balk at the prices; basically just wants the stuff done and trusts me to get it done and give him the bill. But sometimes I'm waiting around weeks to get a check. He farms out his accounting and he's a typical overworked restaurant owner so sometimes he doesn't forward an invoice or whatever.

I'm not real confrontational so my attitude has been to just let it slide. I'll send him a statement with new invoices just as a reminder, but I don't make a big deal about it. I value the relationship more than the timely payment.
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Old 01-02-2014, 12:46 PM   #12
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Re: Good God, Pay Me Already


makes you feel good inside, does't it
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Old 01-02-2014, 12:47 PM   #13
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Re: Good God, Pay Me Already


Easy, you're setting the expectation for them...

I would encourage you to raise your prices 10% for this customer (for example $275 instead of $250 wouldn't make them walk) or others like them... take that 10% and put it into a separate account that you don't touch that is the beginning of your capital reserves account...

Having this account makes it much easier to weather times like this... if you dip into it out of necessity because you are waiting on a check, just put it back in when you actually get the check...

Unless you change what you are doing, don't expect things to change...

Best of luck.. 8^)
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Old 01-02-2014, 01:27 PM   #14
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Re: Good God, Pay Me Already


Quote:
Originally Posted by Easy Gibson View Post
This goes for everyone.

Just give me my money!

Trying to wrestle a couple hundred dollars out of a corporation is the most annoying thing on Earth. I don't know how some of you guys that only work commercial deal with this. When they owe you, everything has to go through channels and be "processed". What on Earth does that even mean? I handed you an invoice, write me a check. Make a note that you wrote the check. How hard is that? Go to hell with your billing cycles that I always happen to have "just missed" despite having billed on the 1st, 5th, 15th, and 25th. Ugh.

Ok I'm done. Sorry.
I did some net 90 for the state last year. It sucks, but if you plan for it, it's not bad.

What pisses me off is when THEIR book keeping screws up and it takes 30 days for them to fix it.
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Old 01-02-2014, 02:03 PM   #15
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Re: Good God, Pay Me Already


I'll second that!

I'm still out $2100 from work done in september. I try & be nice, hell I briefly debated going back to work for them. 4 months later, I'm just burned out chasing a check.

Now, I charge "banker fees". Surprisingly enough, they dont mind!

Now when I start for a client, my first question is pay terms. 30 days normal price, 45 days I add 25%, & 60 days I add 50%. I also explain my "new" late fee policy: over 14 days late I lien, day 30 I sue.

I no longer worry about late payments. Feels awesome.
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Old 01-02-2014, 02:43 PM   #16
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Re: Good God, Pay Me Already


Glad I'm not the only one. hah

I was really cranky this morning. A nice long walk in brisk temperatures cleared the head a bit. Pizza helped too.
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Old 01-02-2014, 03:47 PM   #17
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Re: Good God, Pay Me Already


I have one account that routinely takes 90-120 days to pay. It's a school, and the bill must be read at 3 consecutive board meetings. And if I miss the deadline for submitting, then it's another 30 days.

Oh well, as long as I know what to expect, I have no problems adding in the interest needed to carry them for that long into the front end of the invoice.
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Old 01-02-2014, 03:51 PM   #18
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Re: Good God, Pay Me Already


I've dealt with it too man. I start adding to the bids on slow payers. I figure if I am going to stress about payment then I'm going to get paid for it. If they find someone cheaper - no stress over payment. Win - win. If you're good at what you do, reliable, and they trust you, odds are they don't even question the bump.
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Old 01-02-2014, 04:01 PM   #19
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Re: Good God, Pay Me Already


You simply have to incorporate it into the price.
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Old 01-02-2014, 04:46 PM   #20
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Re: Good God, Pay Me Already


I don't know if anybody here used to watch Homicide or remembers the scene, but there was a good one where Yaphet Kotto was showing a detective his nicely balanced list of Red(unsolved) and black(solved) murder cases on his whiteboard. He showed the detective that his column was entirely red and said, "You are disturbing my balance."

That's how this entire post started, and basically sums up my feelings on the whole thing. hah

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