Back to Ganoksin | FAQ | Contact

Definition for net 30


#1

Hello Orchidians,

You guys did so well on keystone, would someone discuss “net 30.” I
have a sense of what it means but I’d like to know in excruciating
detail. (That may sound sarcastic but I’m serious.)

Thanks.

Christine in Littleton Mass. USA where it’s still sunny and cold but the
snow’s melting.


#2

Net 30 means that a bill is due in full 30 days from the date of the
invoice.

Daniel R. Spirer, G.G.
www.spirersomes.com


#3

In my estimation, it means, pay the whole ruddy bill on or before the
end of the 30 day period…simple,eh? “gerry, de maven-setter”


#4

Dear Christine,

“Net 30” means simply that the net, or full, amount is due and
payable in 30 days � no time payments, no percentages, no delays.

Beth


#5

Christine: ‘Net 30’ is usually ‘attached’ to some discount terms…
ie… “2/10 Net 30”. If you pay off the total invoice in ten
(10) days you get a 2% discount. If you don’t op for the discounted
amount, the entire net balance of the invoice is due in thirty (30)
days.

For hysterical/info’s sake… the worst ‘Net 30’ customers I have
ever had were the largest ones!

‘Red’ in NM


#6

Christine & Orchidians

Net 30 is an accounting term used to give the buyer of your product
or the supplier gives you, 30 days to pay for your purchase without
any discount for early payment. It’s almost the same as what the
credit card gives you except if you do not pay the complete charged
balance then bingo interest is charged at 18%. Hope this helps

Barbara McLaughlin
@Barbara_McLaughlin
www.taylorriverjewelrydesign.com


#7

Christine, The details of net 30 dont have to be too excrutiating, it
merely means t hat the invoice amount is due in 30 days from the date
the invoice was is sued. If you purchased something on the 12th of
the month, that invoice is payable by the 12th of the next month.
Basically it gives you 30 days interest free to pay for purchases. It
is a very effective way to do bu siness, but be careful to pay within
the 30 days because some suppliers d o not send a statement and a
payment could be missed if you dont have a w ay to keep track of when
each invoice is due, which could in turn damage your credit rating
with that supplier. I’m sure you will get lots of acco unting techy
terms on this, but this seemed like the easiest way to say i t.

Sharon


#8

net 30 . . .generally used in businesses other than jewelry. The
bill has to be paid within 30 days of receipt of the product. If
they pay within that time, there is generally a 2% discount on
the monies collected.


#9

Dear Christine

At least in Europe ‘Net 30’ would mean that the price is net (no
discount) and that the payment terms are 30 days after invoice
date/delivery date.

Kind regards
Betty & Niels L�vschal, Jyllinge, Denmark


#10

I agree the “net” means you pay the full price. “net 30” means you
pay WITHIN 30 days of the date on the billing. Some companies attach
interest to the account that is not paid within 30 days. An accounting
degree is good for something!

Spring has sprung a leak in Alabama! Patty