How often to invoice?
How often to invoice?
Out of context: Reply #11
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- hellobotto0
Everyone's pretty much covered every scenario. I've used the 1st/15th approach myself. If a determined payment milestone (midpoint, end-of-project, etc.) is reached between the 1st-14th of the month, send out invoices on the 15th; if it hits between the 15th and the end of the month, send it out on the 1st.
This allows you to keep variable billings going through two controlled invoicing windows. More importantly, provided you have steady work and you operate on a NET30, it keeps potential income coming in every two weeks. If you start a project on Day 1 and finish it on Day 7 yet wait until Day 30 to invoice, you might not see that money until Day 60...and that's a long time to wait for $200.