cheque payments.

[Helen79]

I've been cm'ing for 3 years & am still trying to sort out the financial side of it all
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

[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