Reconciling your customers invoices is an important step in your accounting process. Not paying proper attention to this can not only cost your business revenue but also affect the relationship of those you do business with. Shockingly, a large number of small businesses and SMEs skip this step. Whether you don’t understand the importance of …
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Building business relationships is a skill that successful business people need to have. The e-commerce revolution over the last 10 years has altered the way B2C relationships are built, with drip campaigns, EDM and SMS blasts replacing human interaction. B2B is different. The relationship is built over time and trust is gained with honesty and …
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July 9, 2021Podcast
Startrups Roundtable Podcast- How PencilPay Can Benefit Your Business Our CEO, Tim Demetriou, was featured on the Startup’s Roundtable Podcast. In this episode, Tony Hackett and Tim chat about the last 12 months at PencilPay and share what challenges and successes we have faced. Tim also explains where he has gained the confidence to increasingly back …
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July 6, 2021Uncategorized
So you’ve been testing, trialling, making and selling your beer for years, sometimes decades. With countless hours in loud, cold rooms surrounded by steel vats, sometimes you might wonder “what’s it’s all for?” This article is intended to help you think about the pro’s and con’s of selling your Craft Brewery or Distillery for the …
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June 25, 2021Cash Flow , Late Payments
The Australian Taxation Office (ATO) will be rolling out Director Identification Numbers (DINs) in 2021. The introduction of DINs is to help address illegal phoenix activity and help protect businesses from being affected by the damage it causes. The Australian Business Registry Services (ABRS) is now beginning to test the new platform with a controlled …
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May 11, 2021Invoicing
Running a business means constantly shifting focus – you’re so busy in the day-to-day, that it can be hard to keep track of all the moving parts. Pencil, on the other hand, is in a unique position. We have a birds eye view of the businesses we work with, which gives us special insight into …
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May 6, 2021Late Payments
If your overdue invoices are building up, no doubt you have looked at ways of automating the process using some type of reminder process. This most likely has been out of your accounting software; however, you may not have turned them on as they don’t provide the right solution for you and your customers. Done …
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April 26, 2021Cash Flow
When buyers purchase goods on trade accounts there is always a risk that buyers will take their stock and run. This is called supplier hopping. The way it works is: A buyer signs up with a supplier and orders some stock on credit. The stock is delivered and an invoice is raised. The buyer ignores …
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April 21, 2021Cash Flow
Can you locate your credit applications? Does this sound like you? You give your customers payment terms or trade credit. Part of the process is for a buyer to complete a credit application. Your credit application is in PDF or paper form. You send it off to new buyers in the hope that it will …
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March 22, 2021Late Payments
Does the following sound like you? Your credit agreements have evolved over time from a word doc to a PDF that needs to be printed off, filled in, signed and scanned back. Your customers are still printing, filling-in, signing, scanning and sending back incomplete credit apps. Missing information is just part of the process. If …
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