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Late Fee Working

DFW Area Landscaper

LawnSite Silver Member
Location
DFW, TX
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!!!!

Later,
DFW Area Landscaper
 

Pecker

LawnSite Bronze Member
Location
Louisiana
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.
 

Yard Perfect

LawnSite Member
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
 

MudslinginFX4

LawnSite Bronze Member
Location
Raleigh, NC
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.
 
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