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Average invoice size for the U.S. was $919.
The average invoice size on FreshBooks was $1,677.
It takes the average invoice 48 days to get paid, depriving businesses of the cash they need to operate.
Since we last heard from Fundbox in March of this year, the company has doubled its average invoice size from around $5,000 to more than $10,000.
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"More than£6,000 is a sizeable amount for an average late invoice, and could well be the difference between being able to pay staff on time or hitting trouble: thriving or going out of business," said Martin Campbell, Managing Director, Ormsby Street.
That may explain why the average customer invoice has risen to a current $1,049 from $685 in 1995.
Back in 2010, the average settlement date for an invoice was 55 days.
The average time to pay an invoice on Freshbooks was 22.8 days China saw the shortest time to pay with 11.9 days, while India saw the largest at 31.7 days.
Invoices took an average of 60 days to be paid.
Mr. Reed got a quote on a 2011 Sienna SE that was $500 over invoice, well below the average price other buyers pay for the vehicle.
Oh yes, late payment is the biggest headache of freelance life, with the majority of freelancers being paid an average of 18.5 days after their invoice due date.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com