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Knowledgebase: Invoices
Payment Term Definitions
Posted by Aleks Mladenovic on 12 December 2007 11:11 AM

Commonly used invoice payment terms.

Invoice payment terms:

  • 7 Days (From Invoice)
  • 14 Days (From Invoice)
  • 30 Days (From Invoice)
  • 30 Days (End of Month)
  • 45 Days (From Invoice)
  • 45 Days (End of Month)
  • 60 Days (From Invoice)
  • 60 Days (End of Month)
  • 90 Days (From Invoice)
  • 90 Days (End of Month)

If someone states 30 days, ask what they mean by 30 days.  It is a very common occurrence for a misunderstanding about Net 30 and Net monthly.  If you do a job on the 2nd March for example you will need to wait until the end of March before the 30 days are counted.  This is realistically the beginning of April.  Remember that although your invoice maybe dated the 1st.  If you do not send it for 2 weeks, it does NOT mean you will get paid on or around the 1st of the following month.  Most companies will process it from the date received. 

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