How long to wait before reminding client to pay an invoice?

[monkeynutts]

Hi,
I'm used to dealing with small business and sole traders but recently had a larger business as a customer. Normally I would get paid straight away but I think larger companies do things differently?

I sent an invoice a week ago (for £5000) which is quite a lot for my small enterprise. How long should I wait before sending a reminder?
thanks

 

[fisicx]

Depends on your terms. I have 7 days on mine.

 

[MikeJ]

Most large businesses will be 30 days, or 30 days end of month (so they'll pay you at the end of the month that the 30 days ends in). Look at the purchase order, and the terms and conditions.

 

[IanSuth]

Hi,
I'm used to dealing with small business and sole traders but recently had a larger business as a customer. Normally I would get paid straight away but I think larger companies do things differently?

I sent an invoice a week ago (for £5000) which is quite a lot for my small enterprise. How long should I wait before sending a reminder?
thanks

What did you put on the invoice as payment terms ?

 

[Mark T Jones]

Is there an underlying contract or PO which states their terms?

What terms have you stipulated?

Is there a clear & defined delivery / sign-off point?

 

[monkeynutts]

What did you put on the invoice as payment terms ?

I don't have any terms its never come up before. Normally I send an invoice and people just pay

 

[pentel]

What did you put on the invoice as payment terms ?

More important is what were the terms on their purchase order?

 

[Lucan Unlordly]

If there was some personal contact when the order was placed I'd give them a ring and ask the question direct. Their accounts department may be locked into specific deadlines. The buyer may be able to get things moving.

 

[WaveJumper]

All of the above and then if its a large company I would not be surprised if they are going to come back and dilly dally about setting you up with their accounts department before any sort of payment goes through. I would be inclined to give them a call and check if they need any further info from you to get payment passed

 

[WaveJumper]

And going forward get some proper terms and conditions in place before this comes back to bite you again.

 

[monkeynutts]

give them a call and check if they need any further info from you to get payment passed

Nice wording I will do just that

 

[Paul Kelly ICHYB]

Before it is due
When it is due
After it is due, many times