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Is it OK to Pay Invoices a little early or a little late?
I am working on a process improvement project in the Accounts Payable area of the company for which I work. They routinely pay invoices 1-4 days early or late so as not to have to change their regular pay cycle. Is this a widely accepted practice or is this just an excuse to be complacent with current performance? Does anyone know of any website where i can get information related to this issue? THANKS!
4 Answers
- Howard LLv 710 years agoFavorite Answer
Early is certainly OK. Late is not illegal but it is inconsiderate because the people who sent you the invoice have bills to pay and you might cause them to be late as well. When I ran a business I cut off several customers who consistently paid late. I had better things to do than to chase my money.
- Anonymous10 years ago
Each company sets is own rules. The MAJOR corporation that I worked for paid all bills as soon as they were received (once a week). If you pay them late...subject to late fees. and that decreases profit.
- ?Lv 44 years ago
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