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Thread: Receiving payment?

  1. #1

    Default Receiving payment?

    Sooo... I'm hoping to set up my business VERY soon. I just got my tax return which is going towards some new toys. Mower, whipper, etc. I've finished reading the manual (awesome resource).

    I'm currently in the process of learning the ins and outs of small business but the one thing that has me completely stumped is invoices and getting paid.

    How does it work? Cash? Cheque? Direct Deposit?

    Do you give them 7days or cash on the spot?

    Also how do you keep track of who owes what etc?

    Clearly I'm totally new to all this hehehe

    Any tips or info would be much appreciated.




  2. #2
    Member of Forum Stripes's Avatar
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    Default Re: Receiving payment?

    Cash is the best method of payment if you are dealing with residential clients. Businesses will always want an invoice and most these days pay by direct transfer, so have the bank account details on your invoice. Cheques are annoying, especially if you are trying to get to the bank before 5pm on a busy Friday afternoon and find somewhere to park with a trailer. You may want to charge a little extra if people pay by cheque to deter them from doing so.
    In my diary I have each clients name on the day I do each job, and just write "paid" or "owes" next to it. Try to train your clients to leave cash out on the day you mow. It makes it much easier than chasing up 50 people that owe you $50.

  3. #3
    Senior Member geoff's Avatar
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    Default Re: Receiving payment?

    sms customers two days before..allows time for them to put the money in that secret place ....business vary from 7 to 30 days we dont accept there 60 to 90 day terms our late fees scare them off

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    Member Of Forum Wattle GC's Avatar
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    Default Re: Receiving payment?

    Quote Originally Posted by fekkinell
    Sooo... I'm hoping to set up my business VERY soon. I just got my tax return which is going towards some new toys. Mower, whipper, etc. I've finished reading the manual (awesome resource).

    I'm currently in the process of learning the ins and outs of small business but the one thing that has me completely stumped is invoices and getting paid.

    How does it work? Cash? Cheque? Direct Deposit?

    Do you give them 7days or cash on the spot?

    Also how do you keep track of who owes what etc?

    Clearly I'm totally new to all this hehehe

    Any tips or info would be much appreciated.



    You will learn what is best for you and there is many ways to take money off people Eftpos ,credit etc..When starting out I found its best to keep it simple with the lowest bank fees possible..this is how I work..
    All my invoices have my bank details for direct deposit and so do my cards ..This way there are no bank fees or charges ..
    Jobs under $100.00 Cash only..This cuts down on the use of invoices / accounting paperwork..
    I take deposits on jobs over $200.00 .This stops people cancelling on you when you have already bought the gear to do the job..(I learned that the hard way)
    Throughly tune your customers in on how you take payments and you will minamise problems.The trick is to keep it simple for customers and reduce bank fees as much as possible..

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