Good morning, I asked or brought up this question 🤔 because honestly I'm not or deal with invoices daily or monthly. But, the one I asked said if they pay you 50% down say today depending on how you have it set up to be paid you should be paid that day or night. And the loan part would apply as well and should come off of both 50%. Did you happen to look how your settings are set up? Invoices are the same. I'm sorry I 😞 was trying to reach the right person before I responded.
@Jjpainting I forgot a couple of things. It's early and 1st cup of coffee. He asked if you have it set up for email when the customer pays the deposit instead of stalking your account and he said it is easier to track to make sure you're green metrics are accurate. That has been an issue lately and was addressed to be fixed. When you have people posting 30-50 off daily and if that Ole algorithm isn't going to pick that out. Honestly, I know your line of work is different and I don't know or would hope people didn't or don't stiff you especially after paying 50% down. The ones we do we haven't ever but it's a kitchen table or cabinets they want that. But my husband friend is a logger and ughhhhh, he does the 50% down and logs it, cuts it, plains and kiln dries it and boom 4-7mths later he's tracking them down smh. He invoices nope. I would go nuts really.
1. Where are you located?
2. What do you have your cut-off time set for? All of that plays a factor. Once I know where you are and the time zone, it could be just adjusting your cut-off or deposit time. Others are actually their cards, the customer, and how or when they cut off as well. Even though it's good and the money is there and "technically" gone from their card, it might not actually physically pull until 8 pm. Kinda like my credit union with actual funds/pending. I actually had to verify this many years ago, and Chase is a big one that clears right midnight
Yes! In your account settings, there is a time you can put in. Mine is 5pm eastern time. Remember, 0square is West Coast. So some do 8pm eastern 5pm their time. I only do invoices for custom orders. Most of mine are in store purchases. So invoices are hard when the customer pays it. Honestly, myself for our furniture orders it's after dinner, and I sit down for the night about 7/8 pm. And I pay my bills then. Imo every bank/card is different for their cut-off time. I would guess just, imo it would be the next day. 🤷 again you need to see how you have it set to be paid if it's daily or something else.
I watched it last summer from June till August there was hardly any one that at least post here about an offer or slight chance is was way below their previous offer. Then in September and one boom it picked up. I watch the trends and how it's going and it's looking like last summer is all I'm saying. I don't work for square so if they idle it back like it states above or watch the market like it states above. This could be a factor 🤔 this is just imo only hun. I don't know why or how it's algorithm works if I did you get a loan every stable business making money year after would get a loan! I'm watching businesses double and triple sales and to me that's a no brainer they are kicking it and yet paid off and still waiting? There's a few others that will jump in that have been around for some time now and they pop in about 70-75% and say well I be back around 90% I guess. My last offer was 91% and 1k more than my previous. I guess I should be lucky and not 3x less like above posted or just enough to pay off the previous loan and 0.00 left? That's a new one for me I've never seen that before.
I'm sorry I missed this one. What went to zero? I think I responded to you about invoices. I wanted to ask someone in the group that does invoices daily compared to myself. They said that 50% should be in your account once the customer pays it and the loan portion will come off to. The same with the remaining 50% once they pay it and it processes you should be paid and again the portion of that applies to your loan. He said definitely check your settings on how you choose to get paid. We're the same time zone. I don't know if 8pm would be a better option than say mine at 5pm. I have transaction that roll over to the next day all the time but it's there! We close at 5pm my cut off time but retail they come in at 4:55pm all the time and shop and might not be done till 6pm. My funds hit like 5:05pm anything else goes for tomorrow. If you need anything else let me know I can ask him for a screenshot of his dashboard and settings.
Have you been or haven't been? I'm sorry I'm jumping between pages. Ughhhhh, hun I am so sorry, and unfortunately, I am watching the trends, and July and August were slow, and boom comes September, and it was like every day all day with loans. Believe I'm just like you. I don't work for Square or have that secret algorithm, but I watch the trends. Right now, we have a budget that has to be passed or the government shuts down. 2. Watch the stock market it's not just square. I promise you, but all lenders and banks are holding tight. I hope to come September like last year, loans were popping every day! Just hold tight and keep pushing on! I'm at 88%, so I'm right there with you! We got this! We can do it!
I understand 💯 I really do please believe me been there done that and I hate to call out another company but just say Clover had told me at processing then 287k a 50k loan day one isn't true. I looked up their terms and agreements. 6 months before the 1st loan, you start from scratch and work yourself up like square. I promise you 💯 you do what is best for you and your business, but just look up their reviews and reddit, and you will see it's lending all together from banks to pos systems. I really wish you the best, and no matter what, as a small business owner, go out there and kick butt
