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some client paying cash into bussiness account

Posted: Tue Feb 21, 2012 9:01 pm
by mayana
will this be problem, some of my client sometimes pay directly into my bussiness account will this be problem

Posted: Tue Feb 21, 2012 9:03 pm
by John
Why would that create a problem? It makes perfect business sense, and saves you the bother to go to the bank and deposit cheques.

Posted: Tue Feb 21, 2012 9:07 pm
by nnj10
Can you explain what do you mean by clients paying directly in your business account?

If it is the money for which you have already generated invoice for your clients then it is perfectly OK, as John said.
If you mean something else, please elaborate.

Posted: Tue Feb 21, 2012 9:21 pm
by mayana
nnj10 wrote:Can you explain what do you mean by clients paying directly in your business account?

If it is the money for which you have already generated invoice for your clients then it is perfectly OK, as John said.
If you mean something else, please elaborate.
many thanks..some 50% of my client pay me by cash because I give my bussiness bank details with my invoice to them to deposit..am in full time employed with income of £29750 p.a in the last 2 yrs
and self employement is £7890 after expenses..so I need £35,000 for 45points

Posted: Tue Feb 21, 2012 10:14 pm
by John
some 50% of my client pay me by cash because I give my bussiness bank details with my invoice to them to deposit
Do they actually play cash into your business bank account, or alternatively do they use internet banking or telephone banking to get the money into your account?

For my own business, the great majority of clients pay money into my business bank account using internet banking. I only need to bank about 3 or 4 cheques per year, and I consider it to be a hassle every time I need to pay in a cheque.

Posted: Wed Feb 22, 2012 5:32 pm
by mayana
John wrote:
some 50% of my client pay me by cash because I give my bussiness bank details with my invoice to them to deposit
Do they actually play cash into your business bank account, or alternatively do they use internet banking or telephone banking to get the money into your account?

For my own business, the great majority of clients pay money into my business bank account using internet banking. I only need to bank about 3 or 4 cheques per year, and I consider it to be a hassle every time I need to pay in a cheque.

some of my client pay cash directly into my bussiness account..... no internet transfer(transaction only show the code and reference not name of client) & some give me cash after the job( inline with invoice issued) and I pay this into my bussiness account and this is forwarded to my accountant once I recivement my monthly statement for tax purposes. I never recieved any cheque, not once.