Jamie Wolfer breaks down what to check before you agree to any invoice: when payment is due, what methods they accept, whether cards cost extra, if cash gets a discount, and what late fees are. Knowing these details keeps you from getting blindsided by hidden costs.
Here's what you want to be looking for. You want to look for when is the payment due? How strict is that due date? Once you receive the bill, do you have net 30 terms? Is it due upon receipt? Can you pay with a credit card? Is there a fee associated with paying with a credit card? Is there a discount if you pay in all cash? And while that sounds kind of nice to get that discount, you don't have a paper trail to operate off of to show that you paid all that. So that's just something to be wary of. Okay, so when is it due? How can we pay? Are there any additional fees with our payment preference avenue? Are there any late fees that could be incurred if we don't pay in a timely manner, etc.?
