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joined:Apr 17, 2006
EFT is faster it may be 2 days longer to wait for PIP but it can take just 2-3 working days to be spendable... now thats fast.
joined:Apr 17, 2006
Yahoo on the other hand stated in their Direct Deposit notification email that "if you’re signed up for direct deposit, we will credit your bank account on the 26th of each month". Being a businessman, I prefer that kind of language because they are giving me definitive dates as opposed to "sometime before the end of the month".
At any rate, what I dislike about the current situation is:
a) It's late Friday, so they won't get initiated today.
b) They may not get done this weekend, and even if they do;
c) Banks aren't open on Monday to process the credits.
So, considering it takes time to go from PIP to payment link, this one is going to be much closer to the end of month deadline before it's in our accounts than anything in previous months, which for me illustrates one thing: unprofessionalism.
I wonder if their employees receive their payment on such a lax schedule, or any of the non-adsense clients that they do business with for that matter.
However, one of my partners kept their schedule to EFT(Paypal) me on the 20th, last week, and it did in fact arrive on a Saturday. They set those mass payments up in advance, and the day of the week had no bearing on it. They went through while the office was empty. I was really surprised. In the past, when payments were due on a weekend, we got them on the Monday. Then, they decided that wasn't nice, so they paid us in advance on the Friday when that happened. I don't think we will be surprised this time though.
This is the latest any payment has gone out and been received for EFT USA, sinced EFT began. The PIP dates are too flakey, and to hold them on a long holiday weekend, when sending them out before, would be in keeping with the timing in the past, just seems very short sighted, with YPN on their heels. Many of us are splitting our ad space between Adsense and YPN, and this alone could cause more of shift to YPN.
Yes, I agree, odd that it happened right when YPN announced their EFT, and a firm payment schedule. It is 'almost' like they are begging publishers to go to YPN, with this stunt.
Every other partner we have, gives an exact date for payments, and like clockwork, their payments arrive, EFT, on that date. I really don't think that is too much to ask, consistency.
Everytime I think about this, I wonder how much interest they earn on those funds, for every day they delay in paying us. Need more Q2 profits? Delay payments for a week.
When I was in accounting, accounts payable, for a public company, over 25 years ago, we paid receipts the day they were received, because, payment delays are an indication of financial 'mismanagement', and cause stocks to slide if the phrase 'late pay' gets out. If we were 3 days behind, the comptroller would pound her fists on our desks as she screamed in our ears. A week, that desk would be empty, and we would all be picking up that person's slack, while human services called the employment agency.
"Payment will be completed before the last day of the month"
I'm not normally one for lamenting, myself, but on this occasion I'll make an exception.
But before I turn blue, stump4, where is that quote from? I can't find it. All I can find is: "We'll send your check or EFT payment within approximately 30 days of the end of the month in which your account balance reaches US$100". There is a difference between sending and completing (4 days, in fact, for EFT to the UK). However, there is a graph which shows payment details being posted to the account by the 28th of the month (which now looks likely to be missed for EFT).
Technically, therefore, it could be argued that Google are still within the timetable they have set out. However, this isn't clearly the case because of the ambiguity in their page and the precedent that has been set for previous months. Eg: for us, payments have been completed by the end of the month; this month we won't get payment until at least the 2nd June.
Lamentations, chapter 21
When payments start to slip, as they are doing, this is usually a sign of some underlying problem. But of what? In most situations, one would suspect that the company is experiencing cash flow problems. However, at the last count Google had a couple of billion dollars sitting in their account, so this isn't likely to be the explanation.
Being mindful of Google's ever-more frequent maintenance weekends, I suspect the payment slippage is a sign that Google's focus is on the development of the technology. "Cash flow" isn't an issue that affects them, and it is unlikely that any/many of the people who work there have managed a small business. So they are probably unaware of the major impact that minor slippages in payment dates can have.
Our payment this month is around $9,000. Currently, we are investing heavily in growth of the online publishing side of our business, which not only means we are paying more expenses (eg: developers) but getting less income (spending less time generating income in other areas).
During this period, as is often the case when a small business is growing, we are running close to the cash-flow wire. When working out the cash flow forecast, there are some immovable payments (eg: tax, VAT) and some flexible ones. Also, there are some income sources we can rely on, and others that we have to anticipate may be late.
The mistake we have made, it would seem, is viewing Google payments as something we can rely on. For example, we had anticipated using Google funds against the VAT payment which goes through at the end of this month, something we've done many times before. We can't take back our payments, nor raise any other funds in time to avoid the problem, so this unexpected delay of 2 (or more) days will put us several thousand dollars over our overdraft limit this week.
It may be that I can speak to the bank on Tuesday and get a substantial increase to our overdraft limit. If not, our cheques/transfers to suppliers and the VAT man will bounce, we'll default on our payments, causing similar problems to other, even smaller, businesses. We'll also incur some fees as a result, possibly get a visit from the VATman (hitting both time and accountants fees), our credit rating might be impacted. Etc., etc.. All because of a minor payment delay.
This lament is therefore not a matter of worrying about how I pay for the beer tonight. It is a lament that Google gave the impression of running this side of their business like clockwork, but now seem to have become one of the many "conventional" large companies that has lost sight of the large impact it's small actions have on small businesses.
Here endeth Lamentations, chapter 21.
At least I have no worries that I will not be paid or there will be a default... :-)
G is a financially sound co.
Very frankly, I am a little bit surprised to see the kind of comments being posted abt. the so called delay... Is there really a delay? It is still 4 days to the end of the month..
I guess, in my part of the world, we are happy to get paid as promptly as G does.... Very frankly, I am a little bit surprised to see the kind of comments being posted abt. the so called delay... Is there really a delay? It is still 4 days to the end of the month..
I think the majority of people that have quarrel with this issue are business owners. Business owners understand that when it comes to financial matters, clarity and consistency are of the utmost importance. As mentioned above, when our companies' payments to others for services rendered are inconsistent, we suffer the portrayal of unprofessionalism. If, at all a company should be well presented from a financial perspective, it should be an international, multi-billion dollar company.
Furthermore, Google have bantered on various occasions of their highly computational power and their Phd pool of human resources. So, for the life of me, I just can't understand why they haven't been able to set a specific date for payments and harness their computational power to see it through.
My own opinion notwithstanding, I think we are all grateful for the potential income they allow our companies to make, yet seek to be not relegated to a 2nd rate level where professionalism is unimportant!
I think the majority of people that have quarrel with this issue are business owners
I think it is important to draw this distinction - between those for whom publishing is a business and those for whom it is bunce. The Federation of Small Businesses (in the UK) estimate that 1 in 4 business collapses are due to an unexpected interruption to cashflow.
The average time to payment in the UK is currently 46 days, according to the BBC last year [news.bbc.co.uk]. Other estimates put it much higher. However, in 1998 the UK government brought in legislation about late payment because large companies often didn't realise the impact delayed cash flow can have on small suppliers. Unless otherwise agreed, the legislation assumes the maximum period for payment should be 30 days, after which the small business can charge interest and other costs. But who wants to bite the hand that feeds it?
I tried explaining Google was late and there was nothing at all I could do about it and soon they would be rolling in ill-gotten once again, but I think I was supposed to fly over to Googleplex, hammer on the door with my fists screaming "I want my cash Now Now Now Now NOW!"
This will impact my credit rating. Only I don't care. Apart from the overdraft (caused by Google anyway) I don't have credit. Its bad for you.
(Did I really say that? They'll never let me in the US again!)
I can see how a few days here and there can have some major repercussions for anyone expanding. Enough to push them over the edge sometimes. Not that Google would care. As an organisation, it has proved itself a sociopathic entity time and time again. Like Enron only with cash reserves. If it can make an extra buck overall, it *will* bankrupt you and not give a toss.
I think if the bank complains again this month I'm going to give them Google's number and they can hassle each other and leave me alone.
Google quickly corrected it, but such an error on such a large scale is far worse than being a few days late. Google apparently outsources the EFT payments, and possibly the check mailing too. I don't doubt they're contracting with a different company for payments now, but they may not have got everything in place in time to pay as early as usual, or possibly there are kinks to be ironed out still.