Giving Credit - Do you check your customers organization age for prepaid purposes?

Last updated by Tiago Araújo [SSW] over 1 year ago.See history

It is essential to be familiar with your organization's Terms & Conditions, as it may impact the way you invoice.

SSW Terms & Conditions allow SSW to invoice on a Prepaid basis as per part '6 - Pre-Paid Work' & '19 - Payment Terms'.

It is also highly recommended to invoice customers, who have been in existence for less than 2 years on a prepaid basis. It may, however, be an awkward conversation or irrelevant on the customer's behalf to ask of their organization's age in an initial meeting. Instead, you can perform an ASIC Company Search to determine the customer's organization age.

To do so, follow these steps:

  1. Navigate to ASIC Company search page above and change the filters to 'Organisation & Business Names'. Enter the customer's name or ABN number

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  1. Select the appropriate company

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  1. Review the registration date or alternatively, purchase a $9 company extract which provides the same details on the free page with some additional information (however irrelevant for prepaid purposes)

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  1. Should the registration date be less than 2 years old, ensure that the message is pushed across to the state managers so they can push towards invoicing on a prepaid basis wherever possible.
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