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Payment Processing with Uline
- Uline does not take cash as payment.
- Net on an invoice means the total amount due after discounts and credits.
- Uline accepts debit cards when a PIN number is not required.
Establishing Business Credit with Uline
- The process to establish a business credit line with Uline is fairly simple.
- In the case of Uline trade credit, you can open a net 30 account.
Account Management and Billing
- Uline ships freight prepaid and invoices you for the charges.
- To access your Uline account, go to the Uline website and click on the “Sign In” link.
Difference Between Invoice and Payment
- An invoice requests payment for goods or services.
- A payment refers to the transfer of money as compensation.
Payment Terms and Delayed Payments
- Businesses can claim overdue payment after 30 days.
- Reasons for delayed payment include awaiting approval or insufficient funds.
Invoice and Payment Terms
- Payment terms outline instructions to pay, like method and due date.
- Common payment terms include Net 30, Net 60, Net 90 days.
Invoice and Payment Comparison
- Invoices help businesses track sales and finances.
- A receipt summarizes the amount paid.
Application for Payment in Construction
- An application for payment may include invoices but requests payment in construction.
- Retainage is an amount withheld until a later date, often 5-10% of contract price.