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some client paying cash into bussiness account

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mayana
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Joined: Mon Jan 29, 2007 1:09 pm

some client paying cash into bussiness account

Post by mayana » Tue Feb 21, 2012 9:01 pm

will this be problem, some of my client sometimes pay directly into my bussiness account will this be problem

John
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Location: Birmingham, England
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Post by John » Tue Feb 21, 2012 9:03 pm

Why would that create a problem? It makes perfect business sense, and saves you the bother to go to the bank and deposit cheques.
John

nnj10
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Post by nnj10 » Tue Feb 21, 2012 9:07 pm

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.

mayana
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Posts: 134
Joined: Mon Jan 29, 2007 1:09 pm

Post by mayana » Tue Feb 21, 2012 9:21 pm

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
Last edited by mayana on Wed Feb 22, 2012 5:34 pm, edited 1 time in total.

John
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Location: Birmingham, England
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Post by John » Tue Feb 21, 2012 10:14 pm

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.
John

mayana
Member
Posts: 134
Joined: Mon Jan 29, 2007 1:09 pm

Post by mayana » Wed Feb 22, 2012 5:32 pm

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.

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