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Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?

 
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Old 06-03-2019, 06:48 PM   #21
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


i hate waiting for money
i hate when a client says they pay every 30 days

but in this case , they seem like a sure thing
if you walk away , there will come a day where your kicking yourself.

i had a home owner wanting to pay me in 30 days .
he said " Spike , they real world pays in 30 days "
i told him ," i hear you , but, your a home owner , and for the life of me , i just don`t see you taking 30 days to walk over to that desk right there , and write me a check.."

yea we severed ties after that
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Old 06-03-2019, 09:21 PM   #22
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


Quote:
Originally Posted by Inner10 View Post
Why do you care? You do it every month, the only diffference is you will have 2 months without a cheque, then they start rolling in each month.

Quit yur bitching.
Cash flow has nothing to do with business, it's just bitching and whining
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Old 06-03-2019, 10:17 PM   #23
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


maybe you are just burnt out with this gig...

nice little chunk of pocket change until it encroaches on your regular work.

maybe time to pass the torch...
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Old 06-03-2019, 10:28 PM   #24
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


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Originally Posted by vancouver dave View Post
Cash flow has nothing to do with business, it's just bitching and whining
In this case yes, it's a steady chicken **** job...

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Old 06-03-2019, 11:57 PM   #25
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


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Originally Posted by griz View Post
maybe you are just burnt out with this gig...

nice little chunk of pocket change until it encroaches on your regular work.

maybe time to pass the torch...
Maybe there's some truth to that. I think what it was that prompted me to write my post was that for the last 2 months I've got an email off the guy I deal with asking when the reports were coming.

The emails came a few days before the end of the month, and the deal is I send them by the end of the month and not a few days before.

It could be nothing, but got me thinking that considering they just decided to hold onto payment for 3 months they sure are wanting me to make this a priority for them.

When I first started to do this gig years back, they had me 'winterize' the 2 empty stores.

I had to empty the hot water tank, turn off the breaker, antifreeze in the drains.

That shop had been empty for at least 5 years before I started checking it and another company had done it before me.

But the truth is that the empty shop had a full tank of hot water and probably had for the previous 5 years that the other guy has supposedly 'winterized' it.

So I consider it an OK gig for me over the years, but this kind of new thing of giving me a nudge to go get their reports while same time holding back money is rubbing things the wrong way.
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Old 06-04-2019, 10:25 AM   #26
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


Keep sending one bill per month. When you catch up with the new cycle you'll still get a check a month
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Old 06-04-2019, 11:05 AM   #27
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


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Originally Posted by vancouver dave View Post
So I consider it an OK gig for me over the years, but this kind of new thing of giving me a nudge to go get their reports while same time holding back money is rubbing things the wrong way.
Some in our industry call that a PITA factor and up-charge accordingly...

Make it easy on yourself... give THEM the option... tell them you can work with them on the 90 days, but you'll either have to bill the first 90 days in advance (to reduce risk) or increase the charge accordingly to keep it on the schedule considering it's part of cash flow and the business risk involved... the other option is you can keep the current arrangement... then, you're giving them options on what you'll agree to in consideration of the altering of your arrangement...

Either way, you'll know whether or not it's worth it to you to keep them as a customer or cut them loose... an arrangement/agreement that only works lopsidedly for one side, is usually not a good one...

Last edited by KAP; 06-04-2019 at 11:24 AM.
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Old 06-04-2019, 11:23 AM   #28
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


Quote:
Originally Posted by A&E Exteriors View Post
Keep sending one bill per month. When you catch up with the new cycle you'll still get a check a month
Even A&E gets it!
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Old 06-04-2019, 11:27 AM   #29
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


Quote:
Originally Posted by A&E Exteriors View Post
Keep sending one bill per month. When you catch up with the new cycle you'll still get a check a month
Quote:
Originally Posted by Inner10 View Post
Even A&E gets it!
LOL... yeah, you get it, hopefully and eventually...
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Old 06-04-2019, 12:50 PM   #30
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


I wonder if I called the bank and said, "Hey, I'm gonna stop paying you guys for three months. Don't worry.... you'll still get paid. It'll just be paid off three months later than we originally agreed to."

I got a nickel that says it's going to cost me. Why? I'm using their money. Banks charge interest when you have their money.

You should charge someone for using your money too. Dollars to doughnuts they're profiting by this. No other reason for them to hold on to YOUR money for another 90 days.
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Old 06-04-2019, 12:55 PM   #31
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


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Originally Posted by 480sparky View Post
I wonder if I called the bank and said, "Hey, I'm gonna stop paying you guys for three months. Don't worry.... you'll still get paid. It'll just be paid off three months later than we originally agreed to."

I got a nickel that says it's going to cost me. Why? I'm using their money. Banks charge interest when you have their money.

You should charge someone for using your money too. Dollars to doughnuts they're profiting by this. No other reason for them to hold on to YOUR money for another 90 days.
Exactly... 30 days for a such a piddly amount is long enough as it is...
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Old 06-04-2019, 11:59 PM   #32
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


Some one is trying to pump up their 'Float', most likely to cover their sub par performance in sales/profits.....Tariff issues?

Do due diligence, call(write) their banker, check to see all taxes are paid on the properties, search the Real estate listings....are the buildings actually insured....?

Go to a lunar month, bill EVERY 28 DAYS......13 X a year unilaterally.
9
add 20% inflation right now, 10% every winter.

Start actually charging Up charges for every little action during the inspection...


Money laundering??????????? Sell it or use it....
Insider trading? re: real estate?

No HONEST business pays Net 90 IMHO, at best its a kickback, at worst it WILL break borderline businesses during high inflation/ low liquidity cycles.
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Last edited by Fouthgeneration; 06-05-2019 at 12:02 AM.
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Old 06-05-2019, 05:38 AM   #33
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


Whole lot of huffing and puffing over $350.


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Old 06-05-2019, 08:24 AM   #34
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


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Whole lot of huffing and puffing over tree fiddy.
FIFY.
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Old 06-05-2019, 07:36 PM   #35
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


Over 30 years, 360 invoices, x 350.00$ in todays' $ =

borrowed 126,000.00 dollars for 90 days.......

2/3rds of that = 84,000.00$ vs 30 days normal pay period....

Floating invoices is theft, IMHO

A dollar later is ALWAYS worth less then a dollar TODAY.
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Old 07-04-2019, 07:25 AM   #36
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


Big companies operate differently than the rest of the world.

I do work for one company. Nothing major. Maybe average $30,000 a year. Sometimes they take 90 days to pay.
In my mind, they are worth 11 billion (last I checked), my bill is extremely minor. To them, it's business as usual.

Jut go with it. As long as they continue to pay, it's not a big deal. Just annoying.
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Old 07-04-2019, 12:35 PM   #37
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


Something that bugs me about this company doing this is;

I think they're a pretty big company, it's all been done over the internet so I don't really know. But they do look after a major chain store, with a capital Major.

Let's say then pay out 250k every month to people like me across N America.

In theory;
One month then have say zero in their bank account, then they decide to pay that 250k out in 90 days instead of almost the same day as they are billed.

90 days after doing that they forever more have an extra 750k in their bank account.

That's the bit that bugs me.
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Old 07-04-2019, 12:37 PM   #38
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


Quote:
Originally Posted by Fouthgeneration View Post
Over 30 years, 360 invoices, x 350.00$ in todays' $ =

borrowed 126,000.00 dollars for 90 days.......

2/3rds of that = 84,000.00$ vs 30 days normal pay period....

Floating invoices is theft, IMHO

A dollar later is ALWAYS worth less then a dollar TODAY.

Something that bugs me about this company doing this is;

I think they're a pretty big company, it's all been done over the internet so I don't really know. But they do look after a major chain store, with a capital Major.

Let's say then pay out 250k every month to people like me across N America.

In theory;
One month then have say zero in their bank account, then they decide to pay that 250k out in 90 days instead of almost the same day as they are billed.

90 days after doing that they forever more have an extra 750k in their bank account.

That's the bit that bugs me.
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Old 07-04-2019, 01:56 PM   #39
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Re: Client Paid Me Same Month. Now Changed That To Wait 3 Months. What To Do?


Quote:
Originally Posted by vancouver dave View Post
Something that bugs me about this company doing this is;

I think they're a pretty big company, it's all been done over the internet so I don't really know. But they do look after a major chain store, with a capital Major.

Let's say then pay out 250k every month to people like me across N America.

In theory;
One month then have say zero in their bank account, then they decide to pay that 250k out in 90 days instead of almost the same day as they are billed.

90 days after doing that they forever more have an extra 750k in their bank account.

That's the bit that bugs me.
When a company switches to this accounting method, it makes you think one of two things...
1. They're behind and using the time to get caught up (which can potentially compound and backfire on you)...

2. They're using the time to make money off the people they owe...
Neither are for your benefit... but this is just a small amount, so you may not be risking much in the scheme of things, but at the same time increase your risk of not getting paid at all for three months worth if they go belly up or at a reduced take to even get anything...

Their timing is interesting though...

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