The Cheque Run round about 23 December 2016

If you supply goods or services to a large company, then they will expect you to give credit, and they will expect your terms to be something like “30 days or net monthly account”. This means that you expect an invoice issued in November 2016 to be settled by 31 December 2016. Typically a large company will do a computerised cheque run on about 23rd December, given the day of Christmas this year, and they will want you to have sent a statement at the start of the month listing all invoices outstanding from the previous month, so several invoices can be settled with one big payment. Small companies which do not operate a system like this should pay you within 30 days. If you do give credit, you might like to have a discussion with some local accountants like us. We want to be the accountants Carlisle businesses can consult on general commercial matters as well as on accounts and tax.