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Late Fee Working

Discussion in 'Lawn Mowing' started by DFW Area Landscaper, Apr 13, 2004.

  1. DFW Area Landscaper

    DFW Area Landscaper LawnSite Silver Member
    from DFW, TX
    Messages: 2,116

    Did a quick receivables check in Quickbooks just now.

    All the slow pays from last season haven't changed a bit. But I've signed up a ton of new business this season under my new contract, which spells out a $29.00 late fee and a 2% per month finance charge. Almost all of my new customers have paid and the bills aren't due until the 17th. About half of this season's new customers are on credit card billing, so that helps too. But as for last year's customers, they're still basically paying me whenever they want to. Most haven't paid yet.

    The late fee seems to be working!!!!

    DFW Area Landscaper
  2. EastProLawn

    EastProLawn LawnSite Bronze Member
    Messages: 1,110

    Glad to hear that, I'm trying a similar system myself.
  3. Pecker

    Pecker LawnSite Bronze Member
    Messages: 1,454

    Great idea. Glad to hear it's working for you. BTW, how one would go about wording something like that. Would you mind sharing a sample from that part of the contract? Seems like customers would be frightened by it. Also, if you don't want to put it out in the open, feel free to PM me. It would be most appreciated. But I respect your privacy, so you don't have to if it makes you uncomfortable. Thanks. And good luck with the late pays.
  4. Yard Perfect

    Yard Perfect LawnSite Member
    Messages: 133

    I still send a stamped, self addressed envelope with each invoice. I have approx 70 monthly account and 95 % are paid by the 10th with a few coming in as late as the 20th. No holdovers each month. Try it, people like the convenience and it only costs me about $30 a month
  5. MudslinginFX4

    MudslinginFX4 LawnSite Bronze Member
    Messages: 1,170

    I always send a self addressed envelope with each invoice but never a stamped one, I WILL NOT spend extra money for my customers laziness and responsibility.
  6. shorty7616

    shorty7616 LawnSite Member
    Messages: 230

    ONLY $30 a month!

    Forget that. Thats almost $360 a year that could buy a new weedeater, etc.!!!
  7. wriken

    wriken LawnSite Silver Member
    Messages: 2,154

    I also send a self addressed envelope, no stamp though

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