Make Sure You Are Paid On Time

Posted on: February 18th, 2013

Welcome to guest writer, Kay Daniels, of Daniels Accountancy

It is vital that late payments do not disrupt your cash flow and harm your business. Before you start doing business with a new client, remember the following:

1. Invoices are payable immediately

Ensure that your terms of business clearly state that invoices are payable immediately.  As a courtesy, you may wish to accept 30 days credit but that is not documented in your terms of business.  Most businesses assume 30 days as the norm, but if your invoices state that the invoice is payable immediately, there is a good chance that it will be paid earlier than the 30 days.

2. Ensure your Terms of Business have been signed by your client and returned to you

Where did all my money disappear to?

Posted on: February 11th, 2013

Welcome to guest writer, Mary Waring.

It’s an all too familiar feeling that no matter how much income you earn in a month, it all seems to be gone by the end.

It seems to be one of the great unexplained phenomena. You have a cracking month, in fact your best for a few years……..but you still don’t have any funds in your bank account at the end of the month.

The technical term is “expenditure creep”. For the non technical amongst us, it just means that you spend however much income you have coming in! Income goes up and expenditure goes up with it, without you even necessarily being aware.

Keep a note of your spending

If you want to start some form of savings plan but don’t think you can afford it, have a look at what you’re spending. Chances are there is surplus there that can be cut without it having too much of an impact on your lifestyle.

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21 easy money-saving tips

Posted on: December 3rd, 2012

In today’s straitened times, with clients cutting their budgets, utility companies increasing their bills, higher food prices and a general squeeze on our wallets, here are a few money-saving tips to help your well-earned money stretch that little bit further.

Most of these are common sense but, hopefully, will serve as a reminder to you:

  • Get in the habit of buying your fruit and vegetables from markets as they are much better value than supermarkets.
  • To avoid impulse purchases, write a shopping list and stick to it.
  • Go for supermarket own-label items as they are cheaper than branded goods (and don’t usually taste any different).
  • If you have flatmates, introduce a kitty for buying the essentials so you don’t have several jars of Marmite or five boxes of Weetabix in the cupboard.