General Inquiries

Late Fees

  • 1.  Late Fees

    Posted 12-19-2018 17:47
    ​I'm curious how companies handle minor but consistent late fees on smaller bills from vendors like internet providers, storage containers, and other assorted companies.  I run into a lot of instances where we mail, say 10 days, before the due date and it doesn't get posted until after and we are charged a late fee.  I hate wasting time researching whether it's valid or not when the amount is, at least on it's own, immaterial.  Does anybody just short pay any late fee they are charged?  Thanks for the input!

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    Peter Gauger BS Accounting
    Accounting Manager
    TL Services, Inc.
    Van Buren AR
    (479) 474-7222
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  • 2.  RE: Late Fees

    Posted 12-20-2018 06:34

    We run about $40M through AP each year.  We tell all vendors that we don't pay late fees.  Most accept this and remove them.  The large, multi-industry vendors (ie. They don't care about us) we try to pay on time.  If we get late fees, we always ask for removal before paying them.  If you are paying that close to on time, you should plead your case.  The late fees are really for chronic late customers.

     

    Ralph "Scott" Luman

    CFO | AES Electrical, Inc. | Freestate Baltimore, LLC

    Ph: 301-572-0131 | Fax: 240-294-5562






  • 3.  RE: Late Fees

    Posted 12-20-2018 17:26
    ​As a policy we never pay late charges.  Most vendors will reverse them if you have a good pay history with them and one or two late payment is the exception and not the norm.  The only type of vendor we cannot get to waive them are gas cards (WEX, Chevron, etc.) for any reason.  Good Luck.

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    Laura Venable, BSBA
    Controller
    Helix Electric
    Las Vegas, NV
    (702) 697-8218
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  • 4.  RE: Late Fees

    Posted 12-20-2018 17:31

    Thank you, I believe I'm going to do the same!

     

    Pete Gauger

    Accounting Manager

    Phone (479) 474-7222

    Fax (479) 471-7964

    Cell (479) 719-4268

    Description: TLS-Side   Description: SDVOSB Logo Small

     

     A Service-Disabled Veteran-Owned Small Business

    This e-mail and any attachments are the property of TL Services, Inc. and may contain confidential, privileged and proprietary information. If you are not the intended recipient, please notify the sender immediately by return e-mail, delete this e-mail and destroy any copies. Any dissemination or use of this information by a person other than the intended recipient is unauthorized and may be illegal. Unless otherwise stated, opinions expressed in this e-mail are those of the author and are not endorsed by the author's employer.

     

     






  • 5.  RE: Late Fees

    Posted 12 days ago
    Peter,

    Suggest you also look into electronic payment for those non-job type expenses.  That may save you some time - don't have to mail 10 days early, etc.

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    Darrell Robinson
    Accountant
    MTech Mechanical
    Westminster CO
    (971) 998-5451
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  • 6.  RE: Late Fees

    Posted 11 days ago

    Thanks!!!

     

    Pete Gauger

    Accounting Manager

    Phone (479) 474-7222

    Fax (479) 471-7964

    Cell (479) 719-4268

    Description: TLS-Side   Description: SDVOSB Logo Small

     

     A Service-Disabled Veteran-Owned Small Business

    This e-mail and any attachments are the property of TL Services, Inc. and may contain confidential, privileged and proprietary information. If you are not the intended recipient, please notify the sender immediately by return e-mail, delete this e-mail and destroy any copies. Any dissemination or use of this information by a person other than the intended recipient is unauthorized and may be illegal. Unless otherwise stated, opinions expressed in this e-mail are those of the author and are not endorsed by the author's employer.