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That’s the whole point Matty …. you all SHOULD use the update page. However, the e-mail is sufficiently convincing that some people MIGHT be tempted to open the attachment.
That would be the worst thing you could do…… hence the warning.
@esmeralda wrote:
@cas wrote:
Hey Esme!!!!!!!!!
PB’s not replied to our offer of help,,,,,,,,,,you reckon he’s scared :mrgreen: :- :lol: :lol: :lol: :lol:
I hear that he’s barricaded himself in at PB Mansions..and has hired a heavyduty bodyguard to patrol the premises…
..None other than Bornfree…we run the risk of death by cucumbering!
:wink:
Damn right I’m scared …… what with you two running around feeling up blokes chests and bornfree and her rampant cucumber, nowhere is safe any more.
Quite honestly DOA, no it doesn’t kake sense to me.
Judging by your comment that your lads generated some £15K in a day, that makes your annual turnover somewhere in the region of £4 million.
Keeping a ”float” of £25K on an ‘in and out’ basis in your current account is therefore way too high IMO. You can adjust this by scheduling twice a month payment runs to your suppliers (or better still monthly payment runs). By preparing each run in advance, and adding in the ”other” payments that you need to make regularly (salaries; NI; rent; rates and so on) you should be able to predict several days in advance exactly how much cash is going out on the next run.
It isn’t rocket science to calculate how much NEEDS to be in your current account to deal with this on a day to day basis (even allowing for electronic clearing times). In most cases a simple Excel spreadsheet will do the trick. The key is to be totally disciplined in setting up the payment runs and NOT allowing yourself to make interim payments, except perhaps in an emergency.
Redicing your current account daily closing balance in this way will dramatically reduce the risk you are exposed to AND may well earn you more interest than you currently receive.
Yes I quite understand this. But you have to minimise your day to day current account balance, so as to reduce any risk of the Bank’s default.
Of course you need a current account in order to operate the business. Hovever with careful cash management, your exposure to risk ought to be absolutely minimal and therefore not represent a significant risk to the business.
Most clearing banks operate an automatic ”overnight” balance transfer system. This transfers the excess balance (over a pre-agreed minimum) to a nominated deposit account and then transfers it back again the next day.
Thus not only are your retained cash balances protected, but you also earn a few bob in interest over time.
@wilma wrote:
So……what happens if people (me for example :D ) who are not on any list or team want to join in :?: 8-[
You simply send a PM to ForumHostGM or ForumHostCL Wilma, and they will allocate you to one of the teams. Sorted !!!
Lots of ‘savers’ are taking their money off deposit (with the banks etc) and putting in into government securities. You can buy them through the National Savings:
OK you don’t get as high a rate of interest as you would with say an Icelandic bank ( :lol: :lol: ) but at least your hard earned cash is secure and you can get it out at any time.
For businesses, I would suggest that you keep a ”float” in your business current account to settle all the various charges, direct debits, and payments out and whenever you receive payments in from your customers, you transfer the excess over the ”float” level on a daily basis into the N&S account.
This by the way DOA is called efficient cash management.
Oi !!!! Less comments about ears please !!! Mine aren’t floppy like a rabbit’s if you don’t mind :lol: :lol: :lol:
So it won’t be of much help then will it???
How about you start a new recipe thread here Dee???
It’s worse than you think DOA …. the £50K Government “guarantee” only applies to private individuals.
As you are a business the “guarantee” doesn’t apply to any monies that you may have in the bank.
Why not beat the Liquidator and eff off to Las Vagas and enjoy the money whilst you can.
Alternatively …. swat her firmly on the back of the head with a club hammer. It might make a bit of a mess on the floor, but is will definitely stop her crapping indoors !!!!!
