Vent: A single late invoice payment nearly sank my whole month

Last month, I finished a big fence job for a new condo complex, a $4,500 invoice. The property manager said payment was 'in the system.' Three weeks went by, nothing. I had already paid my two helpers and my material supplier, so my own account was almost empty. I had to call them every other day for a week, which meant I wasn't out looking for the next job. The payment finally came through on the 29th, the day before my rent was due. It made me see that my 'cash flow' was really just one thin line, not a buffer. How do you guys plan for when a client just... doesn't pay on time?

2 comments

2 Comments

burns.ryan15d ago

Nearly sinking your whole month over one late check? Sounds like the budget was already on thin ice before that invoice.

wren_jackson15d ago

Ever think about charging a big late fee right on the invoice? Like, a real one that actually hurts. I know it feels awkward, but if they know paying late costs an extra 20%, maybe they move you to the top of the pile. What's the worst they could do, pay you even later? They're already doing that.