SAME DAY SETTLEMENT ESSENTIAL FOR SMALL BUSINESS
Written on the 9 May 2014
SMALL businesses enjoying high trades on weekends and public holidays could be taking advantage of same day settlement.
Often, businesses don’t see their weekend takings arrive in their bank account until mid-week, causing interruptions to cash flow and reliance on short term loans.
With same day settlement businesses can get their card sales in their account on the same day, 365 days a year, including weekends and public holidays.
This enables a much smoother cash flow for paying wages and suppliers and for ensuring money is always available for direct deposit transactions.Same day settlement also means any interest on sales revenue is earned from the day the sale is made. Early payment discounts can also be negotiated with suppliers because of the increase in cash flow.
Accounting is made easier when payments appear on the same day, saving time and stress for small business owners.
An ANZ Small Business Specialist can assist you with every aspect of your business finances, including managing your cash flow, applying for a business loan, consolidating your banking and streamlining your accounts. If you would like to find out how you can grow your business through finance please go to www.twobillion.anz.com to find out more.
This is a BNP Media content marketing initiative, sponsored by ANZ.Any advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you.