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today were going to dive into how to establish effective payment terms to financially protect your business hey my name is morgan law and im from fine point stop biz and my goal is to help business owners and bookkeepers better manage their finances today i am partnering with quickbooks on a video series to help business owners better run their business [Music] as a self-employed freelancer or small business owner you know how crucial it is to get paid on time so today were going to talk about some common payment terms were going to say what they are and how to use them before we get any farther id love it if you give this video a thumbs up as well as subscribe to quickbooks youtube channel down below if youre more of a reader theres also going to be an article linked in the description box payment terms are an agreement that sets expectations for how and when youre going to get paid and it also includes penalties for a missed payment having those clear payment terms really he