Businesses use net 30 payment terms to create a common ground for both parties. However, a lot of our readers are confused with these terms. That is why we decided to create this guide where we will review and share a few things about Net 30 Payment Terms. We will also share our review of the WeInvoice platform that is popular for providing these services.
WeInvoice Review in 2021 – a Must-Have Helper to Use Net 30 Payment Terms
If you want to know about Net 30 Payment terms, you must be aware of the use of bills and invoices in a business transaction. Here are the main things about these payment terms you should know.
What are Net 30 Payment Terms? How They Work?
When a supplier delivers the goods and services on credit, they allow a fixed period of time to clear the payment. A Net 30 Payment Term is a similar process in which the buyer has to pay back the complete amount before 30 days.
Similarly, you can find Net 10 and Net 20 Payment terms that require the buyer to pay the amount in 10 and 20 days respectively.
When a supplier delivers a Net 30 invoice, they expect the person to pay the amount within 30 days. The main thing is that it creates a formal contract that lets them enjoy a discount by paying the amount before that period. Therefore, it helps the supplier to recover their payments on time and provides an opportunity to the buyer to get some discounts.
Creating a Net 30 payment term is a bit challenging as you need to create all the terms and conditions. However, WeInvoice provides easy templates with all the required information.
WeInvoice is an invoice generator that provides free access to hundreds of templates online. The platform is well equipped with services to help you generate any type of invoice within a few seconds. All you need is to select the template that suits your requirements and generate the invoice by adding the items and their charges.
The platform is used by small businesses and freelancers to get their payments from their clients and customers. However, some large businesses can also adopt this technology to automate their invoicing solutions.
Tip: Refer to this example to check the template of a Net 30 Payment Term Invoice.
The website of this solution is quite easy to use. You can easily find all the templates and generate your invoices without any assistance.
How to Generate Net 30 Payment Invoice?
WeInvoice has a separate page where you can find the Net 30 Payment invoices. Therefore, you can simply choose one of the exclusive templates from that page and enter the items that you deal in. It already includes all the payment terms that make it a Net 30 payment invoice.
That is why you just need to add the invoice details like a regular one. After generating the invoice, you can either share it directly from email or download it to share a physical invoice with someone.
Generally, businesses share these invoices along with the shipment so that they can start the payment term period as soon as the shipment arrives.
Advantages of Using Net 30 Payment Invoices
Different reasons motivate a seller to adopt these types of payment terms. Here are some of them.
- Net 30 Payment Terms bound the buyer to pay the full amount within the specified time period. That is why they are supposed to pay the amount within 30 days. It helps the suppliers to get timely payments from the buyer.
- Net 30 payment Terms usually come with some type of incentives (cash discounts) that give direct benefits to the buyer. On the other hand, the seller ensures that the payment of the delivery is collected before the payment date.
- It shows a sense of trust because the supplier trusts the other person with the payment terms and waits for 30 days to get the payment.
We learned how WeInvoice helps you generate invoices with Net 30 payment terms. The platform offers different invoicing solutions at an affordable rate. Therefore, we recommend this application to automate the billings and invoicing of your business.
We tried this solution with the 14-day trial package that gives access to all the services without paying any subscription fee. Thus, there’s nothing to lose on this platform.