need billing info and receiving payments?

fattypackard

fattypackard

Well-Known Member
Joined
Mar 20, 2005
Location
VA Beach
does anybody have any good/useful information on freelance billings?

and what i mean by this to clarify is...i work for a wheel repair company and am "possibly" moving within the next year and would like information on the process of billing and receiving payments for services provided by me to another business.

example...i repair some wheels for a dealership...

would normal billing for freelance services be to send an invoice say every month and have them mail me a check for services?

i am searching for information but first hand experience would be great by those whom care to help inform a very uninformed soul. TIA!
 
yea i have a billing program that helps.
just wondering if anybody had any first hand experience with this.

not even sure if this is the route i am going. but if i move and do this i want to be prepared and informed. thanks for the tip.
 
We do this type of billing, but unless we have a "blanket" contract with the customer/vendor, we pay/bill per each individual job. We also insure we have a PO or Contract # before we begin the work. Without a PO or contract #, we cannot bill or pay for any services. Billing after every project may be cumbersome, but it def. helps keep track of job costs, proffits, etc.

For clients where we have "blanket" agreements to do all the services for them, we still have a work order number for each project, which falls under a mutually agreed upon contract. We bill weekly and issue an invoice fore each work order/project for that client. At the end of the month, they issue a lump sum payment for services billed for the month with notes about what invoice from us is covered in the payment. It works well and keeps our accounting straight.

My thoughts, bill as often as possible and get our $$$ ASAP, otherwise YOU are financing the repairs until they pay, which can sometimes take up to 60 days...

The sooner you bill for services, the better chance you will have to get your $$$. With us, if a bill goes outstanding over 90 days, our client history shows we only collect 35% of the $$$.
 
freelance ought to work same as corporate, you send a bill, they pay.

Long as you know to whom to send the bill you oughta get paid.

Most bills are on 30 day terms. Meaning the customer has 30 days to pay before being considered late. Dont expect payment on time from everyone. We have accounts (good accounts) they go 60-90 days out.

Sounds like you already have a relationship to the potential customer. shoulndt be a problem.
 
thanks for the ideas and tips fellas. most likely it will be a weekly billing cycle. its not a big business. and yes i have many relationships already.....but i am talking in the future if i move. and then i will have to start over and build some accounts and set up a billing cycle with them. again thanks for the help all!
 
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