cheque payments.

[Helen79]

I've been cm'ing for 3 years & am still trying to sort out the financial side of it all :panic:
If you get paid monthly by cheque when do you actually get paid?

My August invoices are from Monday 1st so should I ask parents to give me the cheque on Monday or get paid the week before so that the cheque has cleared for Monday?

[AliceK]

I stipulate cleared payment by the 1st. That means vouchers need to be paid 3 working days beforehand and if anyone pays by cheque that too would need to be paid about a week beforehand to give me time to actually get to the bank and wait for it to clear. If payment is made but not cleared I will charge late fees until it is cleared.
I have got tough as I got fed up of parents taking the P. I state this very clearly now on all my invoices.

xxx

[miffy]

I also ask for cleared funds by the first of the month - I've now told parents that if a cheque won't clear by the first of the month I will return it and ask for cash.

The trick is to get your invoices out in plenty of time - no excuse for parents then.

Miffy xx

[manjay]

Definitely cleared funds by the 1st. I no longer take cheques as I very rarely get to a bank. My parents would have to pay me about 3 weeks before to make sure it cleared in time:rolleyes:

[rickysmiths]

I would expect the cheque on Mon !st

[amanda1309]

I stopped accepting cheques the beginning of this year as funds were taking ages to clear.
Its payment by cash or bank transfer:)