Posted by Ali-IL on 7/27/04 9:08pm
Msg #5098

pay day question

Do companies try to tell you that they will pay on closing when they in reality will pay under different terms?

I just started,and, have been told everytime that they will pay upon closing. I have filled out a couple of agreements from companies that have responded to my mailings.They had payment terms of every 2 weeks or monthly. But, the ones that have called me are not these.

And, they pay on closing.If, I said I want to get paid on these dates would it work?

And, how do you agents keep up with the pay days? I am using a speadsheet that I made up myself. But, would like a quick way of just checking for pay days. I was thinking of just getting one of those old fashioned desk calenders. The one that you flip over everyday?

Reply by RoadRunner on 7/27/04 11:07pm
Msg #5103

As far as I know, there is no pay day. Just pray that the sooner the check come, the better off you are.

Reply by Ali-Il on 7/28/04 12:09pm
Msg #5125

I know roadrunner what you mean. I am glad that I have a spouse. I am used to not getting paid on time. Sold real estate for 17 years. Sometimes I had to even pay for stuff just to get it closed. Carpet cleaning,stoves,refrigerator.

Reply by Christie Costello on 7/28/04 6:03am
Msg #5113

Ali-IL wrote: "And, how do you agents keep up with the pay days? I am using a speadsheet that I made up myself. But, would like a quick way of just checking for pay days. I was thinking of just getting one of those old fashioned desk calenders."


Personally, I use MS Money to track all of my business finances. (You could also use Quickbooks, Peachtree, etc., but MS Money is significantly less expensive) I enter all of my invoices into the program (as well as track all my expenses), and I can print an aging summary report anytime to follow up on any invoices that are over 45 days.

With all the different payment policies, I figure it's reasonable for me to "EXPECT" payment within about 30 days or less. I just won't worry about it until after 45. If I know a company tends to drag their feet, I may call them before that. That's just my own personal "system".