Follow our helpful tips to ensure you experience a trouble free holiday period at work.
How to ensure you are covered – the essentials:
- It is vital your Bacs reports are collected and actioned regularly, either by yourself or your bureau on your behalf. Have you made sure you, an agency or someone in the team is available to action these during the holiday period? Find out more information on these reports and what requires actioning
- Are there submissions to be made during the holiday period and is someone scheduled to make these?
- Have you checked the Bacs processing calendar to ensure that important processing dates don't get missed over holiday periods?
- If your holiday falls around pay day, ensure that salaries and wages will be paid automatically using Bacs Direct Credit.
How to ensure you are covered – helpful holiday tips:
- Check if your company's utility bills are due for payment while you're away and avoid late payment surcharges by setting up Direct Debit payments now
- Make sure that cash keeps flowing while you are away by removing your reliance on other people to pay in cheques: contact key customers now and ask them to pay via Bacs Direct Credit - the funds will be cleared straight into your account
- Do key senior colleagues have the relevant bank account details and contacts to enable them to pick up urgent queries?
- To ensure colleagues can contact you in a crisis check that your mobile phone service covers your destination, and if calls are likely to be lengthy invest in an international phone card
- Make arrangements for trusted colleagues to open and handle your mail: unopened bills can still incur interest!
- Check with key staff to see if they will have requirements for petty cash while you’re away and make arrangements to meet these
- Time is precious in the pre-holiday period, reduce the time spent going to the bank by seeing if you can bank online
- Late payment legislation gives businesses a statutory right to claim interest for the late payment of commercial debt. Avoid unnecessary charges and damaged supplier relationships: set up automated payments now, you can send payments to Bacs up to 30 days before the payment date and they’ll warehouse them, releasing them on the due date
- Apply best practice at home: have you checked if household or credit card bills will be due while you're away? Payment of these can be set up by Direct Debit too.
We hope these tips are useful. Why not email them on to a friend or colleague?