AIBU to expect monthly payment promptly after sending the amount due?

[Chocchipminipancakes]

I’m self employed. After sending out the payment amount needed for that month (regular monthly pay, but payment varies slightly)
When would you expect the transfer to be done?
When would you pay it if you were the one paying?

What is fair basically?

Yes, it means as soon as they receive your request they should pay.

Download Stripe / Monzo - take payments in person if that’s a possibility

So, I gather from your responses that you don't have payment terms written into your contract/invoice? If not then, yes, YABU.

I specify that payment is required within 7 days (no, that isn't a long time to wait), but many micro companies specify 'payment on receipt', which means the client should pay as soon as they receive the invoice. You need clear payment terms that take into account extra time you may need to chase payment (if necessary).

Ask your client to set-up a standing order for a set amount, you can then invoice for the full amount (stating amount paid from SO and balance due). At least this way you have a regular payment in and only have to chase the balance.

All self employed businesses should have their payment terms on their invoice.

It still doesn't mean that people will pay you within that time, however it does mean that if they don't pay, it is easier to take them to court to get payment.

If you want immediate payment you need to put "payable on receipt of invoice"

Make sure that your bank details are on your invoice including the name of the account.

I put 14 days on mine and some do , some don't.

As a business, you shouldn't be dependent on one invoice coming in though.

If you're invoicing monthly, I think payment within 7 days is a very reasonable expectation. That would be typical for someone who is self-employed. It would seem strange to do an entire month's work and then expect payment on the same day as invoicing.

If you need more prompt payments, can you not invoice weekly? You say the service you are providing is similar to cleaning, and I would expect to pay weekly for that.

Alternatively, if invoices have to be monthly, can you send them a few days before the end of the month, as soon as you know the number of hours worked, even if you haven't worked them all yet? That way, you can request payment by the last day of the month, which would be reasonable.

So you send a monthly invoice?

Do you have any payment terms?

Has your client signed a contract with you?

You seem to be confusing pay (an agreed weekly/monthly payment based upon you providing some hours under a contract of employment) with payment of an invoice for services/product/outcomes.

Pay i would expect to arrive automatically on a fixed day every week or month.

An invoice i would expect to pay within about 25% of the period it covers. So...
Weekly - within a couple of days
Monthly - about a week
Annually - about a month

But as others have said, you need to be clear about payment terms when you agree to the work, and also on the invoice.

Is there a reason you invoice monthly?

You are being really unreasonable 'expecting' people to know when you want paying. Just tell them upfront - or when you send the invoice.

I would pay immediately, yes. Payment on receipt is when they receive the invoice, so yes, it should mean same day/ immediately if these are the terms that your client agrees to.

“Payable upon receipt” is still vague and not realistic. People have lives. Unless you always send that invoice at exactly the same time and date, they can’t guarantee they will be available to pay it within hours of arrival.

Have you set this expectation with the client? If no due date is stated, the customer has 30 days to pay, under the law.

If you see them in person, a card reader you can use with your phone would be a good idea. That way you don't have to wait for them to have time to see your invoice and pay it. I usually try to do same day, but sometimes it might be 2-3 days later if I'm busy

I would normally pay in the evening of the day I received it, but that's mostly to reduce the chance of me forgetting. I'd expect it to say at the top of the invoice if there was a set expectation though, normally the ones we receive from local trades say within 7 days which I think is entirely reasonable.

I think for a regular invoice you can't really ask for immediate payment as people might be away for work etc.

Send the invoices out in week in advance and require payment within 7 days of the date of invoice? That way you should get each month’s payments at the end of each month. You can add back or deduct the following month for any minor adjustment in the final week.

Who decided that you would invoice monthly? If this is their stipulation but you would prefer to invoice more frequently and be paid soon after services rendered, it is unreasonable for them to also delay payment.

I have a small self-employed sideline and my payment terms are 14 days and I say that on my invoices.

I think my window cleaner says within 7 days. I don't always pay the day they are done, but within 48 hours or so.

You might have to wait longer it's a new customer and they don't have you set up - despite MNers always saying "it's so easy on our phone", it isn't always and depends on the bank. But once it's set up it's usually very straight-forward so existing customers should be able to pay promptly. But remember they have their own lives and while being paid quickly is important to you, it isn't to them, so give some leeway.

I'd say within 72 hours and that should sweep up all the stragglers within a week.

If its one bigger customer and you really need the money there and then, then you need to say so.

Just communicate with them and say payment is due within 1 day in the future. Payment terms should be agreed BEFORE you carry out your work/service. If the client doesn’t agree they have the option to discontinue using your services.

I'm self employed and have 7 days on my monthly invoices. Some clients pay straight away, some leave it a week, some forget completely and I need to remind them if it's getting to the end of the month, and there's a couple of clients I raise my own payments for (I'm a book keeper) and they authorise them. I would definitely have terms on your invoices so you can chase if they are late.
If I receive and invoice I try and pay the same day I receive it as I know what individuals/ small companies cash flow can be like and if they've done a job for me then there's no reason for me to delay paying.

When I was a childminder I took payment in advance for the following week plus a deposit which equaled a months pay.
id pay a cleaner/ gardener / window cleaner same day.
i pay my dog walker Mondays for the following week.
you can send an invoice before the job takes place and give a payment due by date.

7 days is pretty normal with services I have used. As others have said you really need to state when you want paying on the bill.

Unless you say on invoice payment by x date they could not pay you for 30 days

Self employed childminder here - put a pay by on the invoice. There are always some people you have to chase for money - remember you are a business and therefore its perfectly fine for you to request payment for services rendered.

A week is normal. Most will probably pay within a day or so.