This week, instead of being a journalist and trainer, I spent at least a day dealing with late paying clients. It was mainly AOL, which, until today, had not paid a single freelance contributor, despite us working since December.
My company has now been paid more than £10,000 by some clients and we have remittance advices in from others so will be paid by Tuesday. But as of today we have more than £21,000 of invoices outstanding, of which nearly £2,400 is already overdue. That is me lending companies money. Continue reading
Banks may not be lending much money right now but I certainly am. I reckon by the end of this week I will have about £28,500 of invoices outstanding. That is my business lending money to other businesses. And interest free. Continue reading
Yesterday my business had £15,344.22 of invoices outstanding, of which £2,449.50 was over 30 days old. We had an overdraft of £911.31.
Today we have £9,525.22 of invoices outstanding of which £1,529.50 is overdue. And we have money in the bank.
Accounts, accounting and accountants are all I have had today.