We’re all pretty used to direct debits now as consumers but what are the benefits of direct debit payments for SMEs? We pay for everything from streaming services to utility bills with them and enjoy not having to manually go through the same payment process for loads of different things every month.
However, not all businesses will let other businesses pay for their services using a direct debit which can be frustrating, particularly for SMEs who can see benefits of direct debit payments.
If you’re an AIMS customer, you can pay for your accountant on a monthy direct debit and here are the top 4 reasons why this can help your business financially.
Benefits of direct debit payments
Benefit 1: Protect Yourself
When you pay for an accountant via direct debit, you are protected by the direct debit guarantee. This means that if you have have any issues with the payment, you’ll be protected and you’ll never pay too much or too little.
Benefit 2: Know Your Budget
Paying your accountant via monthly direct debit means you have full visibility on every payment for the next year. This means that you can budget accurately for much longer periods of time, which will help you make spending choices to grow your business more quickly.
Benefit 3: Save Yourself Time
Direct debit payments are of course automatic. So, if you don’t use a direct debit to pay your accountant, it means you’ll have to run through a manual payment process either every month or every year. This is time that you could be using on more important things like growing your business.
Benefit 4: Never Miss Your Payments
Automated payments means you’ll never miss a payment again. When you miss payments, you can be subject to hefty fines and you’ll usually spend lots of time going back and forth with a business to explain yourself and sort things out. All of this is a waste of time!
Direct debits are useful because they save you loads of time spent on admin and they enable you to grow your business more quickly with accurate budgeting and forecasting. Asking your suppliers if they’ll allow you to move to direct debit is the first step so what are you waiting for?
To find your nearest AIMS Accountant who will definitely allow you to pay using a direct debit, visit https://www.aims.co.uk/find-your-local-aims-accountant