June Quarter Analysis 2018
Late payments up 10% in FY 2018
Late payment times for New Zealand businesses rose 10 per cent during the 12 months ended 30 June 2018, according to illion’s latest analysis. The average time taken to settle an overdue invoice remained unchanged between quarters at 6.8 days. Despite the annual increase, New Zealand’s figure remains well below the Australian average of 11 days.
- Late payment times rose 10% in FY18
- Wellington up 15.8% during the year
- Wholesalers worst sector at 9.7 days
- Large business cuts late payment times by 10%