Getting paid on time can be a real pain, so I was interested to hear a tactic from a camera person who freelances for us at Napoleon Creative. His invoices states 14 days, but it took me around a month after the job to pay him.
When I told him that usually we pay around the 30 day mark, he said:
I used to put 30 days [on the invoice] but found I had more success getting paid with 14 days. 30 days took a couple of months. 14 days seems to get paid in a month… Interestingly.
So the tip is simple: if you want to get paid quicker, simply reduce your payment terms! 14 days appears to get your invoice paid quicker!
I get lots of invoices, some of which are badly laid out, some don’t even mention our company. If you want to know how to write one, including simple steps to create a spreadsheet that calculates your fees, plus how to effectively chase the two kinds of companies out there who will owe you money, download Invoicing For Creatives.