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Old 01-06-2013, 02:29 AM
Darryl G Darryl G is offline
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Join Date: May 2001
Posts: 8,038
I think the problem was that when I billed due on receipt the due date is the same as the invoice date. For those that pay as soon as they get my invoice, no problem. But for those that set it aside, I think they tend to give themselves longer than 15 days to pay it, since most billing cycles are 30 days. The reason I had changed to due on receipt was that I had my language saying that finance charges would be applied on invoices over 30 days late, but since they weren't due for 15 days, my customers could wait 45 days to pay me without consequences. I wanted it down to 30 days so changed to due on receipt. I have since gone back to net 15 but defined late as 30 days after invoice date. It's late...hope I explained that properly.
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