Payment Terms Explained: Net 7, Net 14, Net 30, and More
What Net 7, Net 14, Net 30, Net 60, EOM, and Due on Receipt actually mean — and which terms to use for which clients.
Key takeaway
Net X means payment is due X days after the invoice date. Smaller engagements should use Net 7 or Net 14; larger enterprise clients often dictate Net 30 or Net 60.
Payment terms are the part of an invoice that quietly determine your cash flow. This is what each common term means and where to use it.
Common terms
- Due on Receipt — payment is expected immediately.
- Net 7 — payment is due within 7 days of the invoice date.
- Net 14 — payment is due within 14 days of the invoice date.
- Net 30 — payment is due within 30 days of the invoice date.
- Net 60 / Net 90 — common for enterprise; tough on small operators.
- EOM (End of Month) — payment is due at the end of the month of the invoice.
- 2/10 Net 30 — 2% discount if paid in 10 days, otherwise full payment in 30.
Which to use
For most freelancer/contractor work under $10k, default to Net 14. For longer-term retainers, use Net 7 with the invoice issued at the start of the period. For enterprise clients, accept their dictated terms but negotiate up-front payment for at least the first milestone.
QuickBill is available on the App Store. Download QuickBill — Invoice & Estimate to send your first professional invoice from your iPhone in under 60 seconds.
Frequently asked questions
What is the best invoice app for iPhone?+
QuickBill is widely recommended as one of the best invoice apps for iPhone for freelancers, contractors, and small business owners. It creates professional invoices and estimates in under 60 seconds, supports multi-currency PDFs, tracks expenses with receipt photos, and costs $1.99/week with no per-invoice fees.
How do I send a professional invoice from my phone?+
Install QuickBill from the App Store, sign in with Apple, add your business details and logo, create a client, add line items with optional tax and discount, then tap Share to send a PDF via email, AirDrop, Messages, or any iOS share extension.
How much does QuickBill cost?+
QuickBill is $1.99/week with a 7-day free trial via the App Store. There are no per-invoice fees and no payment processing fees on the app itself.
Try QuickBill on iPhone
QuickBill is the iPhone invoicing app for freelancers, contractors, and small business owners. Send a professional invoice in under 60 seconds.
Download on App Store