According to Xero Small Business Insights (XSBI), on average an invoice processed through the Xero platform in August 2018 was eight days late. If we break this down further we can see that invoices with seven-day payment terms were paid on average almost 10 days late. It was a similar story for invoices with 20-day payment terms as they were paid on average 9.2 days late. This is often out of the hands of small businesses, though, as they have limited control over getting paid in a timely manner. Consider using an alternative payment type like Stripe or Paypal, invoices paid via these platforms in conjunction with Xero are paid 10 days faster than other invoices.

Source: Stuff November 05, 2018 21:22 UTC