How does invoicing work?
We send clients 3 invoices each month. We invoice clients in 10-day periods. If we look at the month of July, for example, an invoice is generated on:
- July 11th for all jobs completed from July 1-10
- July 21st for all jobs completed from July 11-20
- July 31st for all jobs completed from July 21-31
We generate invoices on the 11th, the 21st and the last day of every month. When a vendor marks a job in the system as “complete”, that job is then added to your invoice for that 10-day period.
How do payments work?
We bill on net-30 terms. What does this mean? A client has 30 days from the invoice date to pay the invoice. For an invoice that was sent on July 11th, for example, a client has until August 10th (30 days later) to pay the invoice. If we have not received payment by August 10th, a client’s account will be paused until we receive payment. Invoices will incur a 1.5% late fee for every 30 days they remain outstanding.
The reason we enforce this is to ensure we pay your service providers consistently on time. We want to play our role in setting our vendors and clients up to have a good lasting relationship, and prompt payment is part of that.