This subject is very personal...
For me...All customers are being advised that if we need to chase them for a late payment we will add 5 euro's to that bill as a admin charge....reality is that most are on a '14 day to pay' they will be contacted on the 21st day of nearest work day to that. I would much prefer not to place any charges whatsoever...but if a customer wants to pay late then ok pay late but pay for that option.
Of course there will be stories and genuine reasons for late payments but in the main you more than likely already know who pays late anyway as it is normally the same faces.
Gone are my days of extending credit to customers I am not a bank...just wanting to be paid for doing a honest job.
Some are ok waiting for the customer to decide when to pay...
I can be owed anywhere from 3000 to 4000 euro's at anytime when the reality is that it should be max 2000 at anytime...
If your happy allowing customers a 'pay when you want system' then happy days but we are business people and getting paid is what it's all about.
ps I appreciate Barry's post was a joke.
Dave.