Once all chasing the non-paying side has been exhausted completely, if there is nothing else that can be done, the simple solution to most people would be to take legal action irrespective of the cost.   It may seem like the most rational thing to do,  but without going through the various options that are available a hasty decision to go through the legal action route is reactive as opposed to being proactive.   Quite simply many businesses and/or sole businesses just do not have the funds to discharge you.   There will be times however where legal action is
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Christmas Eve is later on this month and as we enter into the festive period, everyone everywhere will become half hearted in doing their jobs fully as one would like.   As a consequence this will start pegging at your quarterly Cashflow as we enter into a difficult period into December and out from January and February as liquid cash is less so, and credit terms are played out over and above normal terms as many businesses struggle to get through this difficult period of time.   Although businesses in itself should pay off Invoices that they receive in full, during
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Moving on through the reporting series that we see here, the next thing that many businesses would like to see as an overall improvement with their business is to start to track those Invoices who may be giving partial problems. So over and above the reporting headers given in the previous blog, but highlighted again below: – Reference Point – Customer Name – Date of Invoice – Due date of Invoice – Value of Invoice – Contact Point – AP Point (if different from Contact Point) – The type of Product or Service that it has been billed against or
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The previous prime minister of the UK granted the citizens of the UK what they requested by giving them a vote of either staying into and/or out of Europe.   The result astonished many of us, as Theresa May clarified in Florence that over the next two years, the tax payers of the UK will furnish the black hole in the EU budget by clearing down the £20bn that is needed to enable the UK to come out.   But what will remain after the UK will come out and how there are uncertain times for the UK, as inflation
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The only way a business is going to be able to do that is by sitting down with their Accountant to get the monthly management information pack from their Accountant. If you don’t, then rest assured it’s imperative that you get in touch with a specialist such as me who can help you in keeping the cash in your bank account. In order to do that however you will need to have a basic understanding of having controls set up to enable you to resolve any outstanding invoices pending to you. For instance, what is industry specific to you, that
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Vince Cable, the current Liberal Democrat leader in the UK, described that there is chaos on the political landscape as the two groups continue to cause a conundrum of squabbling internally across the Tories. The EU want the UK to get out as soon as possible, but it’s by no means an easy task and something which May’s government are painstakingly clearing down step by step as we move towards exiting out of Europe. Economically however this is proving disastrous due to uncertainty of how the UK as a nation is going to fare. The Pound weak against the Euro
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As one of the greatest toy stores of our generation files for protection against Chapter 11 bankruptcy, you can only begin to wonder is there anything we can do to protect ourself from it going all wrong. The internet, and smart phones that have now embraced that technology is here to stay and like I’d envisioned in prior blogs with the onslaught of Uber taking on the world taxis, the simple fact of the matter is that if you don’t run with the times than you are going to get left behind, as “long as you play by the rules”.
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A record 13 hurricanes have followed through on their plight to devastation over the last number of months. First we had Harvey which caused rampage ending up in Houston, and recently Irma which caused widespread destruction and now with the onslaught of Maria, one can only feel for the residents of the Caribbean praying to be spared. As the mist clears outward and the residents of those affected start to calculate the damage of what had taken place, it is becoming materially clear that insurance costs would only cover for around 18% of those affected. Apart from State help, the
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