It is quite common to invoice a customer with terms of “30 days or net monthly account”. Small customers will be expected to pay within 30 days, while large customers will be expected to pay at the end of the month following the month of the invoice, so an invoice sent in April 2017 would be settled by 31 May 2017. Large companies do it this way because they may receive several invoices from a supplier, and will want to settle all of them with one payment when they do their computerised cheque run. It would therefore be a good idea for the supplier to have sent a statement at the start of May listing all outstanding invoices. Typically the cheque run would be about the 25th of May. If you give credit and have debts to collect, then you might like to have a discussion with us. Most accountants are also general business advisers as well.
The Cheque Run about 25 January 2017
It is quite common to invoice a customer with terms of “30 days or net monthly account”. Small customers will be expected to pay within 30 days, while large customers will be expected to pay at the end of the month following the month of the invoice, so an invoice sent in December 2016 would be settled by 31 January 2017. Large companies do it this way because they may receive several invoices from a supplier, and will want to settle all of them with one payment when they do their computerised cheque run. It would therefore be a good idea for the supplier to have sent a statement at the start of January listing all outstanding invoices. Typically the cheque run would be about the 25th of January. If you give credit and have debts to collect, then you might like to have a discussion with us. Most accountants are also general business advisors as well.
Single Market and Customs Union
What’s the difference between a Single Market and a Customs Union? Goods imported into this country pay an additional tax known as a tariff. A Customs Union is where two countries agree to charge a single rate of tariff against imports from any third country. A Single Market is where two countries agree not to charge tariffs on imports from each other.
It is possible to have a Customs Union without a Single Market. Two countries can have a common external tariff, but also charge each other, presumably at a lower rate than the external tariff, since otherwise exporters would just send goods to a tariff-free area in a third country before importing to the other country. Such tariff-free areas do exist.
A Single Market without a Customs Union would mean importers bringing in goods through the country with the lower external tariff, whence no income for one of the countries. This is not likely to endure.
At the moment, a tariff needs to be paid by many businesses if they want, for example, to move goods from Stanwix to Kingstown. It is called Value Added Tax, its original rate was 8%, and it has risen to 20% without appearing in any manifesto at a General Election. This tariff was introduced when we joined the European Union and its existence and history are good reasons to vote to leave it. At the time we joined, the European Union was known as the Common Market, but really it has always been more of an anti-market thanks to VAT.
Who Benefits from Brexit Delay?
This is a simple question. If we procrastinate over Brexit, who benefits? Does our bargaining power in anticipated negotiations increase or decrease? They sell more to us than we do to them (apparently) so procrastination may favour us. Is that why European politicians want us to get on with it?
There will be any number of legal challenges to Brexit, which will inevitably slow things up. Is that good or bad for Britain when we finally leave? It is quite possible that pro-Europeans haven’t actually got their act together. Try to obstruct Brexit, and the main victims will be German industry, not us. Talk down the value of the pound, and it is them who will suffer for it.
Is this perfidious Albion yet again? Is our government sagacious in its apparent inactivity, or merely incompetent? We accountants are taught to think in terms of bargaining power, and will ask this sort of question. Watch this space!
The Cheque Run about 23 December 2016
It is quite common to invoice a customer with terms of “30 days or net monthly account”. Small customers will be expected to pay within 30 days, while large customers will be expected to pay at the end of the month following the month of the invoice, so an invoice sent in November would be settled by 31 December 2016. Large companies do it this way because they may receive several invoices from a supplier, and will want to settle all of them with one payment when they do their computerised cheque run. It would therefore be a good idea for the supplier to have sent a statement at the start of December listing all outstanding invoices. Typically the cheque run would be about the 23rd of December, given the date of Christmas this year. If you give credit and have debts to collect, then you might like to have a discussion with us. We aim to be the accountants Carlisle businesses can turn to for general advice of this nature.
The Cheque Run about 25 November 2016
It is quite common to invoice a customer with terms of “30 days or net monthly account”. Small customers will be expected to pay within 30 days, while large customers will be expected to pay at the end of the month following the month of the invoice, so an invoice sent in October would be settled by 30 November 2016. Large companies do it this way because they may receive several invoices from a supplier, and will want to settle all of them with one payment when they do their computerised cheque run. It would therefore be a good idea for the supplier to have sent a statement at the start of November listing all outstanding invoices. Typically the cheque run would be about the 24th to the 26th of the month. If you give credit and have debts to collect, then you might like to have a discussion with local accountants such as us.
Time to Think about Auto-Enrolment
If you only employ one or two people, then your Staging Date for Auto-Enrolment may not be until the autumn of 2017. However, it is now time to start thinking about exactly what you will do to enroll your employee(s) into an appropriate pension scheme.
The Cheque Run about 25 October 2016
It is quite common to invoice a customer with terms of “30 days or net monthly account”. Small customers will be expected to pay within 30 days, while large customers will be expected to pay at the end of the month following the month of the invoice, so an invoice sent in September would be settled by 31 October 2016. Large companies do it this way because they may receive several invoices from a supplier, and will want to settle all of them with one payment when they do their computerised cheque run. It would be a good idea for the supplier to have sent a statement at the start of October listing outstanding invoices. Typically the cheque run would be about the 24th to the 26th of the month. If you give credit and have debts to collect, then you might like to have a discussion with accountants such as us.
National Minimum Wage rates from 1 October 2016
The National Minimum Wage rates are set to change on 1 October 2016. For further details consult
The Cheque Run about 26 September 2016
It is quite common to invoice a customer with terms of “30 days or net monthly account”. Small customers will be expected to pay within 30 days, while large customers will be expected to pay at the end of the month following the month of the invoice, so an invoice sent in August would be settled by 30 September 2016. Large companies do it this way because they may receive several invoices from a supplier, and will want to settle all of them with one payment when they do their cheque run. It would be a good idea for the supplier to send a statement at the start of September listing outstanding invoices. Typically the cheque run would be about the 24th to the 26th of the month. If you give credit and have debts to collect, then you might like to have a discussion with accountants such as us.
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