Straight talking advice…

So everyone’s migrating to online accounting software…. and you’re starting to feel a bit paranoid that perhaps they know something you don’t.

First of all, I’m using the basic assumption you’re already using online banking and probably spreadsheets.

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Challenge offer a comprehensive range of invoice books for those living in the last century

Frankly, if you’ve not yet mastered those, and you’re still invoicing from a ‘Challenge’ book using carbon paper, it might surprise you to hear that’s getting a bit old-fashioned now. So’s your typewriter.

To the rest, taking your first step into online accounting software will seem as nerve-racking as getting your first computer. It’s daunting — but in a short period you’ll wonder how you ever managed without it.
If however, you’re still traumatised every time the Window’s logo pops up, it might be a good idea to get a friend (or counsellor) to help you through your transition. …


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Cash is king

Some years ago, before the internet, before online banking and even before suppliers showed a willingness to accept credit cards, the usual method of paying an invoice was by cheque. It was typically due 30 days after the invoice, but the only time anyone ever paid it then was if the supplier appeared at the door to demand it. Otherwise, you could comfortably buy yourself a month or two before they started chasing. You could then add an extra week by pretending it was in the post.

Eventually, after feigning concern of it’s non-arrival and promising to re-issue the fictitious cheque, you could send it second-class safe in the knowledge it would take 2–3 days to arrive, another 2–3 days in the banking system and a further day or so before your bank manager called to inform you he was about to bounce it. …


Back in the day, when cashflow was tight and suppliers refused to deliver anymore goods until their account was settled, my uncle Jack would embark on Operation Cash Collection. It happened at least once a month — every month.

He’d frantically call his customers, telling them he’d be passing through their area (even though he never was - and would usually have to drive for hours in order to be ‘local’), so he could ‘pop by’ and collect a cheque. …

About

David Landsberg

David is Co-Founded Peasy.com. He is an experienced entrepreneur, having started built and exited businesses in Mail-order, Packaging and Advertising Media.

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