Deliver the load. Send the invoice. Collect the money.

LESSON 1

Keep the paperwork needed to get paid

Document requirements vary by customer and agreement. Common records include the rate confirmation, bill of lading, signed proof of delivery, receipts for agreed accessorial charges, and any special customer forms. Check the paperwork before leaving the delivery site when practical.

Common mistake: waiting until payment is overdue to discover that a required signed document is missing.

Treat proof of delivery as part of the job

Before pickup, confirm what documents the customer requires. During transport, preserve shipment identifiers, condition exceptions, and authorized changes. At delivery, obtain the required signature or electronic confirmation, note discrepancies accurately, and store files securely.

Apply it step by step

Create a document checklist from rate confirmation through signed delivery proof and assign a file name convention tied to the load number.

Common mistake: Do not assume a photograph of unloaded freight substitutes for the documents specified by the customer.

LESSON 2

Send a complete invoice promptly

A clear invoice generally identifies your business, the customer, a unique invoice number, invoice date, shipment or load reference, agreed charges, payment instructions, and due date consistent with the agreement. Attach supporting documents the customer requires.

Keep a record of when and where the invoice was submitted. Verify bank detail changes through an established trusted contact to reduce payment diversion risk.

Create an invoice the customer can match

Include your business identity, invoice number and date, correct bill-to party, shipment references, origin/destination, agreed linehaul and approved accessorial charges, amount due, payment instructions and required supporting documents. Use the customer’s submission channel.

Apply it step by step

Draft a sample invoice and reconcile every amount and reference against the written rate confirmation and proof of delivery.

Common mistake: Do not add unapproved fees and assume they will be paid.

LESSON 3

Understand when payment is actually due

Payment terms describe when a customer owes payment under the agreement. A term such as “net 30” generally means payment is due 30 days after the contractually defined starting point, which may be invoice receipt, acceptance, or another event. Read the actual terms instead of assuming all customers calculate dates the same way.

Read payment terms from the correct starting event

Net terms may be measured from receipt of a complete invoice, delivery, approval or another contractual event. Confirm the trigger, required documents, dispute process and whether early payment discounts apply.

Apply it step by step

Write down the invoice submission date, contractual trigger date, expected due date and follow-up date for a sample load.

Common mistake: Do not equate delivery date with payment due date without reading the terms.

LESSON 4

Track accounts receivable

Maintain an accounts-receivable list with customer, invoice number, amount, submission date, contractual due date, status, and any follow-up notes. Contact the customer promptly when a required document is rejected or payment becomes overdue.

For serious disputes or suspected fraud, preserve records and obtain appropriate professional advice.

Manage accounts receivable before invoices become old

Maintain a ledger showing invoice number, customer, amount, submission date, due date, payment status and dispute notes. Reconcile deposits to invoices and escalate politely with supporting documents. Avoid sending sensitive banking changes without verification.

Apply it step by step

Build an aging view with current, 1–30 days overdue and older balances; document the next action for each invoice.

Common mistake: Do not wait until a cash crisis to discover an invoice was never accepted.

LESSON 5

Compare the real cost of faster payment

Factoring may advance cash against eligible receivables in exchange for fees and contract conditions. Compare the effective cost, reserve amounts, minimum volume commitments, termination provisions, and whether the agreement is recourse or nonrecourse. “Nonrecourse” can still have exclusions.

Review load profitability →

Compare total factoring cost and risk

Review discount fees, minimums, reserves, recourse provisions, chargebacks, termination conditions and which invoices are eligible. Compare the cost of factoring with the cost and risk of waiting for ordinary payment.

Apply it step by step

Ask for a written example showing cash advanced today, funds held in reserve, total fees and what happens if the debtor never pays.

Common mistake: Do not choose factoring from a headline percentage alone.