Does anyone require a deposit for services? I know I request a deposit for all website/social media related services.

When should require receipt of payment? Before or After product/project/task delivered?

I request a deposit on all services. For project for work it is 50% before work starts and 50% before final deliverable. For retainer I get first month payment before work starts and for one off or ongoing I get a deposit to be applied to the invoice of the current work.

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Lee Drozak

I do charge a deposit for project work (and of course retainer time is always paid in advance). Generally it's 50% before work begins. That said, I do waive the deposit for some long term clients that have a history of fast payment, but they know that payment is expected immediately upon completion of their project.

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~Tina Marie Hilton of Clerical Advantage
& founder of VA Survival School

I request a 3-hour deposit from all new clients before starting work.

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Lily Chambers, The Virtual Office Goddess, LLC
Author "How to Do Your Own Small Business Bookkeeping"

Thanks! I appreciate the info! I am a firm believe that a deposit is good faith money! lol.

Do you guys have a cut-off timeframe? At what point do you consider it appropriate to discontinue services until payment has been received?

Payment is due upon receipt of the invoice. Work commences when the invoice is paid. However, for long-term clients, I will send reminders at 48 hours using PayPal's reminder service. Since I am holding their deposit, I will continue work but 48 hours is my limit. My contract details all of this out and all my clients know that payment is due upon receipt of the invoice.

Janine

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Write that Winning RFP The Job of Ur VA Dreams http://bit.ly/ZJfatV

I like your method of invoicing, Janine, very much. We've had to chase a couple of clients and it's not pleasant. We did eventually receive payment, but I'd like to utilize this method for prevention purposes.

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Leslie Sansone Williams
LeslieSansoneWilliams.com

I require a deposit of new clients OR if there will be a lot of transcripts related to one project, instead of a deposit I offer the option of e-mailing an invoice with each transcript and not starting the next one until that invoice is paid.

For regular clients I either invoice with each transcript or once a month with payment due within 30 days, whichever the client prefers. I work with a lot of larger companies and this has worked well for me.

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Pam Deyerle - Transcriptionist in Richmond, Virginia (16 years)
The Perfect Word Transcription Service

Do you charge a deposit for hourly first time clients as well? What about long term clients..do you charge a deposit for hourly plans?

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Nekiwa Smith, OAVS
5 Keys to Profits