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At a former place of employment we had a retired CPA as the on-staff bookkeeper. He was a real stickler for payments on time. He charged interest to every late invoice. Only small businesses ever paid the interest. ALL of the big companies just said here is the check for the amount due, if you want interest, sue us. They all paid when it was 90 days or more overdue. The CPA guy that worked for us explained it was standard practice for the big companies to be slow pay. They might have a million or even way more due payments and they can keep the cash in their account and earn interest. They know we are never going to sue them for the few bucks of interest and piss off a big client.
One of the companies that is a local OKC based company that is rather large and has really good ice cream is an exception. They always pay an invoice within 10 days. Always. Whenever they called and asked can we have...... we told them YES. Whatever you want, we can do that and you are moved to the top on the to do list, we love you guys.
It could be a little 20 dollar invoice or as much as my first house cost, they paid in 10 days.
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Glen
49 Year member of the Porsche Club of America
1985 911 Carrera; 2017 Macan
1986 El Camino with Fuel Injected 350 Crate Engine
My Motto: I will never be too old to have a happy childhood!
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