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| Reply To This Thread |
| Re: getting your invoices paid |
| Author: | Gerry Kline |
| Date: | Saturday, 1st Jul 2006 11:04 |
| Views: | 255 (excluding Digests and RSS feeds) |
| Category: | Other | | URL: | http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=1882 |
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Are you new to this business or what?
It happens all the time!
Do you credit check your clients? If not why not?
Needs a firm hand from you and a good solicitor.
Poor payers or those who don't pay up are the reason across all industries not just recruitment for cash flow problems and firms going to the wall. The big firms are the worst for taking their time, passing the buck and losing invoices.
So if you are a small business or one man band counting on your income from invoices being paid on time, I hope you have thick skin mate....cause you will need it. |
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| Reply To This Thread |
| Re: getting your invoices paid |
| Author: | RPA |
| Date: | Monday, 3rd Jul 2006 10:42 |
| Views: | 250 (excluding Digests and RSS feeds) |
| Category: | Other | | URL: | http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=1882 |
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Three options.
Get a factoring company, yes it's expensive but in the early days its immediate payment of up to 80% of your invoice value, something is better than nothing at all.
Build into your terms of business that cleared payment must be received within the payment terms otherwise they forfeit the rebate - (this is more future reference than helping your problem right now)
Three, a firm but fair call, get the invoice faxed and call immediate to get a confirmed date for payment. If the client is miles away, TNT do a great "collect and bank" service, they will call in person and bank it into your account :)
Hope one of the above helps. |
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| Reply To This Thread |
| Re: getting your invoices paid |
| Author: | DV8 |
| Date: | Tuesday, 29th Aug 2006 09:33 |
| Views: | 267 (excluding Digests and RSS feeds) |
| Category: | Other | | URL: | http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=1882 |
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Payontime is pointless with individuals who do not practice the fundamentals.
It's nice to have the romantic "gentlemans" way of resolving business issues, however, it is all too apparent that these days it is necessary to litigate in circumstances where people do not pay.
Some potential ideas:
All new clients, endeavor to credit vet, where it's not possible and you are not sure of their standing, ask for a 25/50% pre payment on their first fw dealings with you.
Look towards factoring if you are hand to mouth as a new business start up (don't go buying a porche on your first payment!).
Tight credit control underwritten in your terms of business. You don't want to upset a client, however you need to make it clear what the process is for late payment.
Finally, a good debt recovery firm. Intrum Justicia in Stratford alternatively, try your solicitor. |
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| Reply To This Thread |
| Re: getting your invoices paid |
| Author: | Tom Atkinson. |
| Date: | Tuesday, 29th Aug 2006 13:45 |
| Views: | 290 (excluding Digests and RSS feeds) |
| Category: | Other | | URL: | http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=1882 |
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Provided you have followed sensible procedure as outlined by DV8 and www.payontime.co.uk , you can apply statutory interest at base rate plus 8% (that's currently 12.75% per annum). If you haven't dated your invoice and specified the due payment date though, you won't have a starting point to charge interest from. |
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