cheques vs Bacs

[Rupe]

Just had a quick look through previouse years invoice spreadsheets.

 

I used to highlight all BACS payments in red so my book keeper knows there wont be a corresponding paying in slip for those payments.

 

bacs payments as a percentage of total payments were as follows

 

2010 18%

2011 26%

2012 43%

2013/14 69%

 

Thats quite a quick increase. From next year I will highlight cheque payments in red as these are now the least common method. Im sure everyone else is seeing the same increase in bacs payments?

 

Another few years and cheques will be gone, good riddance too!

[Ian C]

Yep I ask for bacs and most now pay that way.

 

Sent from my GT-I9300 using Arbtalk mobile app

[humpo48]

Yes I am the same, less bank charges to!

[Gray git]

I like bacs as I always ask for the invoice number to be used as the reference so it's so much easier to keep track of payments coming in instead of where paying in 5 or 6 cheques then having to refer back to the slip for cross reference.

Just the last few months had more ask if they can pay by card on a mobile chip and pin device, sham they are quite pricy as would be a quick way of doing things.

 

sent while pretending to do something important on my mobile.

[StephF]

I thought the big increase in bacs for Firewood payments was because most people wont pay 50+ pence for a stamp to post a cheque! It does save a lot of faffing around with paper, but often they dont realise if the payment does not come with invoice ref, it is hard to identify, mainly as the person on invoice is often not the one paying!!

[RobRainford]

I like bacs as I always ask for the invoice number to be used as the reference so it's so much easier to keep track of payments coming in instead of where paying in 5 or 6 cheques then having to refer back to the slip for cross reference.

Just the last few months had more ask if they can pay by card on a mobile chip and pin device, sham they are quite pricy as would be a quick way of doing things.

 

sent while pretending to do something important on my mobile.

 

 

The PayPal one is £99. For the hassle it can save it would be a worthy investment. Very handy for being out and about. We have some proper chip and pin terminals and they aren't cheap.

 

On site card payments. No need for cheques and no rushing to an ATM to Get cash.

[Mark Bolam]

Double advantage of not having to visit the bank to pay in cheques, and cleared instantly.

 

 

Sent from my iPhone using Arbtalk

[Rupe]

I know all the advantages, just wondered what ratio of cheques v Bacs people are up to this year?

[Justme]

The PayPal one is £99.

 

 

The izettle one is £59 inc vat.

 

https://www.izettle.com/gb/card-readers

[morten]

I like bacs as I always ask for the invoice number to be used as the reference so it's so much easier to keep track of payments coming in instead of where paying in 5 or 6 cheques then having to refer back to the slip for cross reference.

Just the last few months had more ask if they can pay by card on a mobile chip and pin device, sham they are quite pricy as would be a quick way of doing things.

 

sent while pretending to do something important on my mobile.

 

There are in fact a couple of devices that allow you to accept credit card payment without incurring any monthly fees, just a percentage of the payment.

 

https://www.izettle.com/gb

 

Intuit Pay Pricing | Credit Card Processing on Your Mobile | Intuit United Kingdom