How do I set payment terms with my clients?

How do I set payment terms with my clients?

Setting payment terms involves defining when and how you expect to be paid. What specific terms are you considering?

I want to offer a 30-day payment period after invoicing.

That's a common practice! You might also want to include late fees for overdue payments. Would you like to know how to communicate this to your clients?

Yes, how should I phrase it in my contract?

You could say, 'Payment is due within 30 days of the invoice date. A late fee of X% will apply after this period.' Does that work for you?

That sounds good! Any tips for discussing this with clients?

Be clear and upfront about your terms. It's also helpful to explain the reasons behind them, like cash flow needs.