Banana Invoice Payment Terms Explained
Getting Paid · 6 min read · Updated June 2026
Payment terms tell your client how long they have to pay an invoice. The most common is Net 30 payment due 30 days after the invoice date. Clear terms are one of the simplest ways to get paid faster. Here's what each common term means.
What does Net 30 mean?
Net 30 means the full invoice amount is due within 30 days of the invoice date. "Net" refers to the total payable. Net 15 and Net 60 work the same way with 15- or 60-day windows.
Common payment terms and what they mean
- Due on Receipt payment is expected immediately when the invoice arrives.
- Net 7 / Net 14 due in 7 or 14 days; popular with freelancers who want quick payment.
- Net 30 due in 30 days; the standard for many businesses.
- Net 60 / Net 90 due in 60 or 90 days; common with large clients but hard on cash flow.
- 2/10 Net 30 – a 2% discount if paid within 10 days, otherwise the full amount in 30.
What does Net 14, Net 15, Net 30 and Net 45 mean?
Net 14 means the invoice must be paid within 14 days of the invoice date. The number after “Net” is simply the count of days the client has to pay – so Net 15 is 15 days, Net 30 is 30 days, and Net 45 is 45 days. Here is a quick reference for every common term:
| Payment term | Payment due | Best for |
|---|---|---|
| Due on Receipt | Immediately | One-off jobs, new clients |
| Net 7 | 7 days | Freelancers wanting fast payment |
| Net 14 | 14 days | Freelancers, small projects |
| Net 15 | 15 days | Small businesses |
| Net 30 | 30 days | Standard B2B, most businesses |
| Net 45 | 45 days | Larger clients |
| Net 60 / Net 90 | 60 or 90 days | Enterprise (hard on cash flow) |
| 2/10 Net 30 | 30 days (2% off if paid in 10) | Rewarding early payment |
Which terms get you paid fastest?
Shorter is better for cash flow. Freelancers and small businesses usually do best with Net 7 to Net 14, or Due on Receipt for one-off jobs. Offering a small early-payment discount (like 2/10 Net 30) can also speed things up. Whatever you choose, state it clearly on the invoice one of the nine items in our invoice checklist.
How to set terms clients actually respect
Agree on terms before you start the work, put them in writing, and repeat them on every invoice. Add a due date (not just "Net 30") so there's no ambiguity, and consider a late-payment fee for overdue invoices. Need to put this into practice? Set your terms and due date in the free Banana Invoice generator, then learn the full workflow in how to write an invoice.
Frequently asked questions
What does Net 14 mean?
Net 14 means the invoice is due 14 days after the invoice date. It is popular with freelancers because it gets you paid faster than the standard Net 30 while still giving clients a reasonable window.
What is Net 15 payment terms?
Net 15 payment terms mean the full invoice amount is due within 15 days of the invoice date. It is a common middle ground between Due on Receipt and Net 30 for small businesses.
What does Net 45 mean?
Net 45 means payment is due 45 days after the invoice date. It is typically used with larger clients but can strain cash flow, so add an early-payment discount if you offer it.
What's the difference between Net 30 and Due on Receipt?
Net 30 gives the client 30 days to pay; Due on Receipt asks for payment immediately when the invoice is received. Due on Receipt gets you paid sooner but can feel demanding for large clients.
Can I charge a late fee?
Yes, if you state it on the invoice or in your agreement. A common late fee is 1–2% of the overdue amount per month. Always disclose it up front so it's enforceable.