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Purchase payments (payments to your suppliers) have a very strong link to credit control (monitoring payments due from your customers) i.e. if the money does not come in from your customers then you cannot pay it out to your suppliers.

In an ideal world we would all pay our suppliers as soon as payment became due. Unfortunately this is not always possible as payment is invariably reliant on the cash flow situation at the time. In this situation you need be have a good working relationship with your suppliers. You also need the services of someone to maintain the good relationship through a potentially stressful period for both yourself and your supplier. Whatever happens you are going to need supplies from somewhere to ensure the business keeps running.

It's surprising how quickly word gets around about bad debt. This could make it very difficult to obtain credit elsewhere. We would be able to discuss the situation with your suppliers, make them aware this is only a blip and hopefully put their mind at ease.   We could then discuss the possibility of a revised payment date or making a part payment at this stage. Another time consuming chore is writing out and issuing cheques for suppliers as and when they become due. Why not let us write out the cheques for you. All you have to do then is sign them and release them as the cash flow situation allows.

   
       
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