Net 10 is terrible? Who are your clients?

I have spent a fair chunk of my 25+ year career consulting. Net 10 may not be the best terms, but it's far from terrible. $30/hr, on the other hand...

Being paid in 10 days isn’t the end of the world. It’s not fantastic, but it’s far from terrible.

But I have no idea what payoneer is. Unless it’s a weird way of saying “wire transfer”, then yes it’s probably terrible.

It's not 10 days; Net term is a month, plus 10 days, so you get paid once a month, 10 days into the next month.

Edit: That totally disregards that it's paid via Payoneer, so you'll also have delays in transferring your money from Payoneer to your pocket, which could take days more.

Oh. My mistake. Yes that is fucked.

Edit: are you sure that’s the definition of “net 10”?

From https://www.accountingtools.com/articles/2017/5/7/accounting...

> Net terms. "Net" means that the full amount is due for payment. Thus, terms of "net 20" mean that full payment is due in 20 days. The term may be abbreviated to "n" instead of "net".

From https://due.com/blog/10-invoicing-terms-need-know/

> Net 7, 10, 30, 60, 90

> These imply that the net payment is due in either 7, 10, 30, 60, or 90 days after the invoice date. For example, if the invoice was dated June 10 and you used one of the most used payment terms, Net 30, then the payment would be expected before July 9.

Edit2: the referenced site even says the same, presuming they handle invoices end-of-month:

> Payouts are sent on a NET + 10 basis. It means that for every work completed and approved in a specific month you get paid for it on 10th of the next month. E.g. if for work completed and approved during September you'll get paid on October 10th.

So I’ll restate my original point: payment 10 days after invoice is not terrible. It’s not fantastic but it’s not terrible.

Oh boy; I know, and I hate these terms as they can mean different things to different people/companies.

From their faq:

"When do you send payouts?

Payouts are sent on a NET + 10 basis. It means that for every work completed and approved in a specific month you get paid for it on 10th of the next month. E.g. if for work completed and approved during September you'll get paid on October 10th."

This is basically Net 30 + 10. It can get even more complicated by internal payables cycle.

Edit: When seeing things like Net+10, always asks what the Net term is; it could be anything + 10 days.

EditEdit: That 10 days you're referencing would be from the end of the month, not the beginning. From the beginning of the month, you're 40 days out. With legit corporate work, or direct to legit customers, this can work; when you're subcontracting to seo shops like this you won't even know you're not getting paid or have to fight for it until the next month.

I don’t think that’s what most people would see as “net 30”. Terms are always from the invoice date, which in their case seems to be last of the month.