What Are The Best Invoice Payment Terms For Your Small Business?

Typical Invoice Terms By Industry

The cardinal rule of invoicing is to try to get paid as soon as you can. Net 30 is the standard invoice term among small businesses. It simply means that the customer must pay you within 30 days of receiving the invoice. Small business owners might be tempted to bill a client at Net 15, Net 7, or even c.o.d. in order to get paid faster, but this is risky.

If you get pushback from customers about your invoice terms, the reason is probably because you’ve deviated too far from what’s customary in your industry. Before setting your invoice terms, you’ll need to talk to industry peers and find out the norms in your industry.