Keeping track of how much money has been collected is key to ensuring that you are getting all the revenue you deserve for your hard work.
Every business these days has to handle various different forms of payment that customers wish to use such as cash, credit card, eftpos cards, direct deposit, and more.
Hiary can offer solutions that are as simple as tracking what payment has been taken and how through to automatically processing payments during booking, delivery, pickup or any other workflow you might have.
By introducing this recording of payment information in our skip bin hire software you significantly improve the checks and balances in your business. This reduces the risk of accidentally not collecting payment from a customer.
It is also important to stop opportunistic employee's from stealing money from you. It has been found the some 75% of employee's have stolen from their employer at some stage. This is an incredibly high number and warrants the extra effort to safeguard your business.
Integrated Payment Solutions
Utilising one of our integrated payment solutions will enable you to keep payment details on file for customers in a highly secure fashion. This means that if a customer overfills a skip or puts the wrong thing in the bin then you have a quick easy solution to invoice and collect payment for the transgression on the spot.
In person payments (with a terminal) can reduce your risk of charge backs as it is harder to claim that a service did not occur when the card was physically present for the transaction.
Don't let customers of employee's get the better of you by exploiting your service or stealing from you.
“Cashies” the Elephant in the Room
We can't talk about recording payments without addressing the elephant in the room which is the Cashie.
Talk to any business adviser, valuer or accountant about the humble cashie and they'll tell you that it doesn't matter about the tax man. The down side to taking revenue out of the business without recording it is that it destroys your profit margin.
Well so what I hear you say, I'll have to pay tax on the money if I put it through the business. The problem will rear its ugly head when it comes time to sell. Rather than having a profit margin of 10 – 20% you might have no profit or very little.
Rather than getting two and half times this money you'll get nothing. In short you probably saved 30% on the money now but missed out on getting a 250% return on it later.
A savvy investor, looking for a business to buy is going to be looking back at least 24 months to see that the business has been profitable for more than just a few months.
Don't be the emperor with no cloths in this story, make sure you get what you deserve when it comes time to sell up.