If you’re considering an invoice factoring account with RBS FacFlow, here are the things you need to know. About RBS The Royal Bank of Scotland has a long history of financial expertise tracing its origins back nearly 300 years. Amongst their many services, they offer invoice discounting and invoice factoring to UK businesses. The Royal Bank of Scotland Invoice Finance (RBSIF) division provides an invoice factoring service branded as FacFlow. A FacFlow account is intended to be easy as possible for business to manage their finances and is hosted on an online platform. Is FacFlow the Right Choice for Your …
A franking post box is a Royal Mail post box which will only accept mail which has been franked with a franking machine. It is possible to send franked mail via standard ‘stamped post’ boxes if you meet certain conditions. However, if you do this it will be taken to the sorting office with the stamped post, even though it does not need to be sorted. By using a franking post box your franked mail avoids this stage and can be processed faster. Where is your nearest franking post box? To find your nearest franking post box you need to …
Any business, large or small, relies to some extent on Royal Mail to deliver letters and packages. Mailroom expenses can escalate if you don’t have a handle on the most efficient and cost effective way of sending mail: a franking machine. But how much does a franking machine cost? One thing that prevents many small to medium businesses from using franked mail is the perceived cost of the franking machine itself. There is also a misconception that franking machines can entail considerable ongoing expenses. In fact, a franking machine can be leased, and the leading firms all offer increasingly competitive …
Royal Mail’s latest round of price changes came in on 31st March 2017. How much have first and second class stamps gone up by? The price rises have seen the cost of a first class stamp rise to 65p. In 2016 the price was 64p, which is a rise of 1p per stamp. The new price of a second class stamp is now 56p, a rise of 1p from the previous 55p. First Class Stamp is £0.65 Second Class Stamp is £0.55 What about prices for other stamps? Other commonly used services include the large letter first and second class …
Vehicle tracking can offer huge benefits to any company looking to make cost and time savings. However you can’t introduce tracked vehicles into your business without first understanding the implications on your employees rights to privacy. Get it wrong and you could be on the wrong side of a court case or fine or both. The General Data Protection Regulation, commonly known as GDPR, will be introduced on the 25th May 2018 and will enhance our existing laws. Fall on the wrong side of these new European wide laws (and yes the UK will be included) and a fine could …
Retail finance allows small businesses another way to pay for their customers. It also gives small business another tool to help them compete with the major retailers and chain stores which often have the edge over the independent outlets and specialist stores both on and off-line. One piece of good news for smaller businesses is that they are now able to offer the same kinds of retail finance products as their larger competitors. Retail finance enables customers to make a decision about whether or not they want to pay for their goods in more manageable monthly installments at the point …
Being able to track your company’s vehicles means staying one step ahead and can give you the edge over the competition, and this is just as true for small companies as it is for large corporations. Any business that relies on a fleet of vehicles for its business to run can see the benefits provided by either an active or a passive vehicle tracking system, most notably: happier customers, lower running costs and an increase in profitability. What can a fleet tracking system do? There are two main types of fleet tracking system, passive and active. A passive system records …
One of the most complex and expensive operational costs businesses deal with is the merchant processing fee, yet you cannot do away with a merchant account. Having a merchant account contract is what stands between you and a cliff. So how can you get lower credit card fees for your business? Many business owners will tell you that gross over-payments in credit card processing fees are part and parcel of their lives. They lose thousands of pounds in excessive fees and when they try to switch providers and reduce costs before the expiry of their contracts they get buried under …
It has long been the case that doing accounts means buying and becoming familiar with either Sage or QuickBooks. These companies have been the dominant suppliers of accounting software packages for so long that familiarity with one or both of them has become a prerequisite for anyone who needs to file accounts, even owners of very small businesses and the self-employed. But times have changed, and recent years have seen an increase in the number of online accounting systems, some of which look set to rival Sage and QuickBook’s hegemony. Offering simpler interfaces and easier access, the best of the …
Invoice factoring or invoice finance, as it is also referred, is how a businesses can generate cash quickly by using it’s to-be-paid invoices as collateral, the finance company will make a small charge for the privilege and your business can concentrate on growing rather than waiting for customers to pay. Imagine the following scenario; You run a small business. You provide your customers with services or goods. In order to get paid, you raise invoices for those services or goods. And then you wait. While you’re waiting, new business opportunities are missed and chances for expansion slip by. When your …
