Tel: 02380 98 77 22Fax: 02380 98 77 33
Email: info@carbon-accountants.com
Protecting your business during a challenging economy
Chasing debts is a big issue for small business, remember the old saying “cash is king” and its even more important during the current climate, so what can you do to keep your customers cash coming in.
Ensure your credit control procedures are strong enabling you to minimising your odds at suffering the next bad debt.
- Get you customer’s agreement at the beginning
- Get your credit terms agreed and sales order signed
- Review your business terms annually
- Clearly state your own and customer’s full name and address clearly and insure the word Invoice on the page
- Reference your invoice to a specific order or quote and give a full description of the work done or goods supplied
- Print your payment terms and settlement days and state that interest will be added at the statutory rate
- When chasing late payments make a note of whom you spoke with and when
Don’t forget bad debt tax and VAT relief can be claimed where debts have gone bad.
Tax Tune Up?
All business owners need a basic understanding of tax but Carbon Accountants have the detail. We continually strive to save more in tax than the cost of our fees. Our testimonials demonstrate the tax savings we have made for our clients.
Cash Flow Reports
Many business are daunted by the prospect of preparing a business plan but its doesn’t have to be, we can prepare a focused detailed plan which can assist to secure finance or assist your business get through the crucial early years.
