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Silly invoice due date question

5 replies

DCINightingale · 22/11/2021 13:01

If an invoice is raised with a due date of, say, today, would you say that it is expected that payment is recieved by the service provider on that date, or just that the service receiver needs to have sent payment by that date (with payment taking up to 3 further days to land in the receiving bank account)?

OP posts:
RedCarsGoFaster · 22/11/2021 13:04

Arriving by today.

sparklefarts · 22/11/2021 13:14

Arriving by today. However could get away with payment today if you send a remittance and explain

FinallyHere · 22/11/2021 13:42

You need to look at the terms and conditions relevant to the sale. I know this from work, where the T&C defaults to 90day, so anything due today would be actually paid in 90 days.

Madness, isn't it ?

Tommika · 22/11/2021 14:18

The invoice due date should be the last date by which time payment will have arrived with the provider

Therefore if payment terms are 90 days, then with a due date of today (22 November) the invoice will have been raised on day zero - 24 august

If the payment process takes 3 (working) days then that needs to be taken into account with today as day 3, and payment should have been sent on Wednesday last week (day 1 thurs, 2 Fri, 3 mon)
If payment is ‘instant’ then it could be paid today

CruellaDeVilla · 22/11/2021 14:22

It depends- whose invoice is it? Yours?
If so did the customer agree to those terms?
More importantly, did they set you up in their system with those terms?
Did you follow their P2P process?

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