Yeah, a lot of people view it differently. When some people ask to be paid Net 15 some think of it as twice a month (every 15 days) and some think of it as the 15th of the next month for all business in the month before. So when you work with a network and want to get on weeklies, ask them the scheduel or if its weekly net X. For example, were Weekly Net1 (Mon-Sun paid Monday) and some guys may be Weekly Net4 (Mon-Sun paid Thursday.)
This may be true, but I was always under the impression the general world considers a billing cycle to be monthly. Otherwise too much confusion occurs. e.g. the guy paid bi-weekly saying "Pay me net 7" confuses the hell out of people.
Most businesses consider "Net X" to be days after the close of the month. e.g. Net 15 = you're paid on the 15th of the following month, etc.
So saying "Net 7" to most of the world means you're paid on 7th of the next month, or so I thought.