Trading on Credit Terms
Effective and flexible cash flow is essential to your business. Waiting for payment and chasing for late payments is an unwelcome pressure which can be avoided,Worst scenario: despite your own time and effort, every invoice is a potential risk and in extreme cases may become a bad debt.
Helping you to understand Invoice Finance/Factoring services
Like main stream business banking services, on-line (internet) banking is also available to the business owners who enter into an invoice finance service agreement (IFSA). You need to be aware of the risks and your added responsibilities, including:- The underlying terms and conditions of IFSAs
- The information you need to keep for your accountant
- the specialist bookkeeping records you need to keep
- The unique impact an IFSA will have on your cashflow, bottom line profits and the additional liabilities recorded in your company's balance sheet.
