Policies and Procedures

Discuss the importance of policies and procedures in your virtual assistance business.

Forum Sponsor (Advertise with us)
Reply
 
Thread Tools Display Modes
    #1 (permalink)  
Old 10-24-2008
New Member
 
Join Date: Oct 2008
Posts: 35
Default Always Invoices or Partial Payment Up Front?
Ok, so do most people just send invoices or do you ask for partial payment up front in order to start the job (like a contractor normally would for say, a job on your house)? Just curious.

Thanks!
-Natalie
Reply With Quote
    #2 (permalink)  
Old 10-25-2008
Resident Member
Company name: Virtual Business Services
 
Join Date: Sep 2007
Location: Oklahoma, USA
Posts: 1,118
Send a message via Skype™ to Rebecka Melson
Contact this virtual assistant on LinkedIn
Default Re: Always Invoices or Partial Payment Up Front?
I always ask for a deposit up front.
Reply With Quote
    #3 (permalink)  
Old 10-25-2008
Junior Member
 
Join Date: May 2008
Location: Rochester
Posts: 304
Send a message via MSN to EliteBiz
Default Re: Always Invoices or Partial Payment Up Front?
I also have asked for a deposit for a new client even if it's just a project.
Reply With Quote
    #4 (permalink)  
Old 10-25-2008
New Member
 
Join Date: Oct 2008
Posts: 35
Default Re: Always Invoices or Partial Payment Up Front?
Ok, so how much of a deposit? 10%... more?? Just curious because I have heard too many stories of VA's who don't get anything up front, and then the person doesn't pay.

Thanks!
Reply With Quote
    #5 (permalink)  
Old 10-25-2008
Contributing Member
 
Join Date: Oct 2008
Location: Saskatchewan, Canada
Posts: 59
Default Re: Always Invoices or Partial Payment Up Front?
I learned the hard way to ALWAYS get a deposit up front....even if I know the client.
I usually ask for something between 35% and 50%. Never more than 50%. I have never had anyone refuse to pay the deposit - or even question it. If the day comes when someone does give me grief about the deposit, they will need to find another VA.

Gladys
Reply With Quote
    #6 (permalink)  
Old 10-25-2008
New Member
 
Join Date: Oct 2008
Posts: 35
Default Re: Always Invoices or Partial Payment Up Front?
Wow, ok. Good to know! I'll keep that in mind when I quote projects.

Thanks!
-Natalie
Reply With Quote
    #7 (permalink)  
Old 10-25-2008
Junior Member
Company name: Awesome Assistant
 
Join Date: Jul 2008
Location: Roseville, California
Posts: 427
Follow this virtual assistant on Twitter Find this virtual assistant on Facebook Contact this virtual assistant on LinkedIn
Default Re: Always Invoices or Partial Payment Up Front?
Almost all of my clients pay up front, particularly retainer clients. If it's a deposit, it's always 50%. Once I've worked with a client and know they'll pay in a timely manner, I may invoice them at the end of the project if it's small.

I just signed a client for a minimum 5-hour project, not to exceed 10 hours. I explained I needed the 5 hours paid up front and the remainder would be billed and payable within 10 days after the project was completed. It was no problem; the check and contract were in the mail that day.
Reply With Quote
    #8 (permalink)  
Old 10-25-2008
D_Victoria_Virtual_Assistance's Avatar
Resident Member
Company name: True Harmony Media, LLC
 
Join Date: Dec 2007
Location: New Jersey
Posts: 1,803
Blog Entries: 15
Follow this virtual assistant on Twitter Find this virtual assistant on Facebook Contact this virtual assistant on LinkedIn Find this virtual assistant on YouTube
Default Re: Always Invoices or Partial Payment Up Front?
I require a deposit from all new clients. The deposit is then applied to their next invoice, which I make them aware.
__________________
Darlene Victoria Gonzalez - All-Around Creative Tech. Girl
http://www.darlenevictoria.com/
Reply With Quote
    #9 (permalink)  
Old 10-25-2008
Contributing Member
Company name: DeAnna Troupe's VA Service
 
Join Date: Jun 2008
Location: metro Atlanta area
Posts: 204
Send a message via Skype™ to deannatroupe
Follow this virtual assistant on Twitter Find this virtual assistant on Facebook Contact this virtual assistant on LinkedIn
Default Re: Always Invoices or Partial Payment Up Front?
I always ask for a deposit up front for new clients.
Reply With Quote
    #10 (permalink)  
Old 10-26-2008
Active Member
Company name: Prime Admin Solutions
 
Join Date: Jan 2008
Posts: 751
Follow this virtual assistant on Twitter
Default Re: Always Invoices or Partial Payment Up Front?
I'm in the minority here - I don't ask for deposits up front and haven't been stiffed yet.

I heard something interesting on a radio call-in show yesterday. A consumer advocate was talking about contractors (as in home renovations) and said that if a contractor asks for a deposit up front for materials you should wonder why he/she hasn't got a line of credit. His opinion was that you don't pay the contractor for anything until the materials arrive on your property.

I told my husband about this as the contractor we engaged for our bathroom reno wanted 25% upfront and we paid it. He said that a contractor would tell us to get lost if we refused a deposit - although maybe not now with the way the economy is going.

I do agree with Mr. Silverman (the consumer advocate). I've never asked for a deposit and won't unless I need to spend over $1,000 on supplies and I haven't had to do that yet.

The only difference is a retainer. I expect that to be paid prior to the work being completed.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Customized Invoices lanelt Bookkeepers 26 11-30-2010 07:44 AM
Customized QB Invoices lanelt Bookkeepers 14 01-31-2010 10:58 PM
How do you number your invoices? sequence Policies and Procedures 17 05-24-2009 01:39 AM
Partial business name idea oregonva Branding Your Business 2 10-02-2008 07:59 PM


All times are GMT -4. The time now is 02:21 PM.

Virtual Assistant Forums Advertising
Virtual Assistant Directory
Work from Home | Become A Virtual Assistant
Create a Professional New Client Welcome Packet
Virtual Assistant Forums Advertising

© Virtual Assistant Forums 2014 Content and images protected under copyright law.
Google+ - Facebook