When are you usually compensated by clients for your work?

Paul over 7 years ago

Paul Filkin | RWS Group

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When are you usually compensated by clients for your work?
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Willem Dubelaar over 7 years ago

Within two weeks from me issuing my monthly invoice for jobs, completed the previous month.

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Claudio Nasso over 7 years ago

Usually, 30 days from Invoice date.

But for some clients I issue a summary invoice at the end of each month which clients pay on receipt of the invoice itself.

Claudio
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Simon Cole over 7 years ago

Varies from agency to agency, of course. I always invoice once at end of month to each client, except when amount is small, then I carry over to next month. UK/Ireland pay within 20 days of invoice, French agencies generally pay at 60 days, although one long-standing client now paying at about 25 days! I think a lot depends on company and national culture. My experience is that European culture is generally to pay at/within 30 days, while in France 60-90 days is the general rule.
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Lingling Liao over 7 years ago

Usually at the begin of the month and not later than 15th. Because in our country, the tax and social insurance operation are always issued in the end of the month.
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Paola over 7 years ago

Most agencies I work with ask for a monthly invoice, which they process and pay at the end of the following month. This usually means getting paid after 45 days (from the invoice date, not from the job date).

Other agencies request an invoice per job, which is very time consuming. These are usually big agencies with several offices which are managed separately. Others allow you to set a minimum payment threshold. There is another one, UK based, which offers to pay you immediately if you accept 'a discount' on your invoice or after 15 days for a lesser 'discount' or you can wait 60 days and get paid in full. I don't work with this agency but I think it is illegal to do so!

Anyway, I don't mind how long it takes to get paid, as long as I get paid. The translation business is luckily one where you don't have to advance a lot of cash (besides utilities, which you'd be paying anyway if you work from home). I don't understand why some translators are so strict with their payment terms. If you can manage a business effectively, you should ensure you have a decent cash flow and not rely on a day-to-day basis.
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Paul over 7 years ago

Thanks for the feedback guys!

Paul Filkin | RWS Group

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When are you usually compensated by clients for your work?