Go Cardless VAT

[Chris34]

20 percent on top on their fee's is nothing.  It works out an extra £2 per £1,000 collected and if you're VAT registered then you just claim it back.

I was on the phone to my bank for 40 minutes today trying to chase up a payment from a customer to see if it had been paid or not, don't have any problems like this with GC, process the payment in seconds, no waiting for your money, no going back to collect, no awkward texts reminding the customer to pay.  GC is well worth it.

 

[Cleanco]

20 percent on top on their fee's is nothing.  It works out an extra £2 per £1,000 collected and if you're VAT registered then you just claim it back.

I was on the phone to my bank for 40 minutes today trying to chase up a payment from a customer to see if it had been paid or not, don't have any problems like this with GC, process the payment in seconds, no waiting for your money, no going back to collect, no awkward texts reminding the customer to pay.  GC is well worth it.

I thought it was 1% + 20p per transaction. Say if you had 100 jobs at a tenner each that would make 30p per job so £30.00 for all jobs to be collected which is an extra £6 of vat totalling £36. 

 

[Iron Giant]

I thought it was 1% + 20p per transaction. Say if you had 100 jobs at a tenner each that would make 30p per job so £30.00 for all jobs to be collected which is an extra £6 of vat totalling £36. 

Kinda is but on the whole it's not that straight forward as it will vary from job to job, this could total quite a bit, when the extra 20p came in I went from £20-30+ in charges some months ranging up to £70-90 of course factoring in first clan prices been double and so on

But 6 years and more ago when I was doing cash collections plus bacs, trying PayPal and GC 6 years ago I was spending on average 18 hours a month chasing debt and quite a bit on fuel plus wear and tear on the motor etc which was in excess of £100 a month extra on fuel not counting the wasted hours collecting been owed £100's and coming back home with £30 collected after up to 2 hours out, so the GC fees are worth it in comparision. 

 

[scottish cleaning service]

I would look in to it if I had a lot more customers. Been chasing up a customer for two months now and its been settled. Like the idea you know right away.

 

[Chris34]

I thought it was 1% + 20p per transaction. Say if you had 100 jobs at a tenner each that would make 30p per job so £30.00 for all jobs to be collected which is an extra £6 of vat totalling £36. 

Yes you're correct, I worked it out without thinking about the 20p, although as IG says it will vary depending on your average job price.  Non of my jobs are £10, my minimum price is £15 so based on my minimum it would work out an extra £4.50 per £1,000 collected.  It's still well worth it though, considering it's a VAT charge I don't consider it a big deal.  I do expect them to keep increasing the prices though, personally I don't know where I would draw the line, probably 5% of the total collected and then I'd be looking at other offerings out there, but at 5% I think all the main banks would jump on it tomorrow so I don't think they would be wise to go that far.

 

[Cleanco]

Kinda is but on the whole it's not that straight forward as it will vary from job to job, this could total quite a bit, when the extra 20p came in I went from £20-30+ in charges some months ranging up to £70-90 of course factoring in first clan prices been double and so on

But 6 years and more ago when I was doing cash collections plus bacs, trying PayPal and GC 6 years ago I was spending on average 18 hours a month chasing debt and quite a bit on fuel plus wear and tear on the motor etc which was in excess of £100 a month extra on fuel not counting the wasted hours collecting been owed £100's and coming back home with £30 collected after up to 2 hours out, so the GC fees are worth it in comparision. 

Ye I don’t miss the collectin. Nowadays I offer cash, cheques and card payments on the day and bacs if none of those suit. I always have debt list of around £1000 but it always comes in. Some weeks your up and some your down but never by that much. I really couldn’t bring myself to pay someone else to collect especially when they keep hiking their prices up and when there are so many options out there that are free. I knew this would happen and is one of the reasons why I have always been against it. They will soon forget about the small company’s and will concentrate on the big fish’s were all the money is. 

 

[Iron Giant]

Ye I don’t miss the collectin. Nowadays I offer cash, cheques and card payments on the day and bacs if none of those suit. I always have debt list of around £1000 but it always comes in. Some weeks your up and some your down but never by that much. I really couldn’t bring myself to pay someone else to collect especially when they keep hiking their prices up and when there are so many options out there that are free. I knew this would happen and is one of the reasons why I have always been against it. They will soon forget about the small company’s and will concentrate on the big fish’s were all the money is. 

Collecting is like a distant memory now well almost, with GC my money comes in every week trouble free so it's worth the cost, the other so many options are slim and they don't make it so hassle free or even free the only thing that is free to process is cash,

As for GC sacking off the small businesses I hardly think that is going to happen at all as collectively small businesses will be a sizeable chunk of that global £3 billion that they process I am also inclined to think we small businesses are their bread and butter money right across the board and the countries across Europe, Australia & America 

 

[Chris34]

Ye I don’t miss the collectin. Nowadays I offer cash, cheques and card payments on the day and bacs if none of those suit. I always have debt list of around £1000 but it always comes in. Some weeks your up and some your down but never by that much. I really couldn’t bring myself to pay someone else to collect especially when they keep hiking their prices up and when there are so many options out there that are free. I knew this would happen and is one of the reasons why I have always been against it. They will soon forget about the small company’s and will concentrate on the big fish’s were all the money is. 

For me that seems like too much hassle and it's not free for me to process a cheque or deposit cash, not only is it not free it also costs me to park, costs me time and is just more hassle.

I really do think that it's penny pinching to not think it's worth the cost.  The time saved is a hell of a lot, not just a little bit.  Just yesterday I spent 40 minutes chasing up a bank transfer payment, 20 minutes on hold then 20 minutes trying to speak to an indian lady who couldn't understand that I needed her to check to see if a payment had been made into my account.  This was the second phone call made in relation to this payment, the first was to the customer which entailed a 5 minute 'polite' chat, and then involved another 5 minute chat to explain the payment had now been made and I would be cleaning the next day.  This involved nearly one hour of my time just for that one payment.

This is the thing with GC you don't need to speak to the customer, no time lost, just do the clean and go, process the payment in the evening, done, that's it, no more checking bank accounts, no taking cheques and cash to banks, it's done.

 

[ksp]

For me that seems like too much hassle and it's not free for me to process a cheque or deposit cash, not only is it not free it also costs me to park, costs me time and is just more hassle.

I really do think that it's penny pinching to not think it's worth the cost.  The time saved is a hell of a lot, not just a little bit.  Just yesterday I spent 40 minutes chasing up a bank transfer payment, 20 minutes on hold then 20 minutes trying to speak to an indian lady who couldn't understand that I needed her to check to see if a payment had been made into my account.  This was the second phone call made in relation to this payment, the first was to the customer which entailed a 5 minute 'polite' chat, and then involved another 5 minute chat to explain the payment had now been made and I would be cleaning the next day.  This involved nearly one hour of my time just for that one payment.

This is the thing with GC you don't need to speak to the customer, no time lost, just do the clean and go, process the payment in the evening, done, that's it, no more checking bank accounts, no taking cheques and cash to banks, it's done.

I don’t know if you’re aware or who you bank with but I use the Halifax app and get a push notification on my phone every time someone pays me. As soon as I get the notification, I mark it off as paid on aworka. Other banks must have a similar sort of functionality? Could help save you a lot of time. 

 

[Cleanco]

For me that seems like too much hassle and it's not free for me to process a cheque or deposit cash, not only is it not free it also costs me to park, costs me time and is just more hassle.

I really do think that it's penny pinching to not think it's worth the cost.  The time saved is a hell of a lot, not just a little bit.  Just yesterday I spent 40 minutes chasing up a bank transfer payment, 20 minutes on hold then 20 minutes trying to speak to an indian lady who couldn't understand that I needed her to check to see if a payment had been made into my account.  This was the second phone call made in relation to this payment, the first was to the customer which entailed a 5 minute 'polite' chat, and then involved another 5 minute chat to explain the payment had now been made and I would be cleaning the next day.  This involved nearly one hour of my time just for that one payment.

This is the thing with GC you don't need to speak to the customer, no time lost, just do the clean and go, process the payment in the evening, done, that's it, no more checking bank accounts, no taking cheques and cash to banks, it's done.

Tbh mate I can’t remember the last time I had to chase a payment. It’s literally 20 mins at the end of the week booking off bacs payers and counting my coin. As a sole trader I can use a dedicated personal account which is free and perfectly legal although frowned upon by the banks to deposit cheques and cash which again is another 20 mins at the end of the month so not much time spent. IMO putting all your eggs on one basket with a company like that is a recipe for disaster. Dont get me wrong when the goings good and all that.....................

Also for me the costs would be a lot higher than yours for the type of work I do so I’ve reckoned it could cost around or even over £50-£60 per week. On that basis I’d rather drop a couple of hours work and pay myself £30 an hour to go knock on doors again for my cash instead of giving my hard earned cash to someone else. Over the course of a year that’s a lot of money and especially when I’ve got everything running smoothly without it. £2500 a year is hardly penny pinching pal. If I was a big company dealing with 1000’s of customers a week then ye I can see it’s time saving merits but for me it’s horses for courses. 

 

[Cleanco]

Collecting is like a distant memory now well almost, with GC my money comes in every week trouble free so it's worth the cost, the other so many options are slim and they don't make it so hassle free or even free the only thing that is free to process is cash,

As for GC sacking off the small businesses I hardly think that is going to happen at all as collectively small businesses will be a sizeable chunk of that global £3 billion that they process I am also inclined to think we small businesses are their bread and butter money right across the board and the countries across Europe, Australia & America 

They wont sack you off, you will just end up being outpriced as they will look after the big stuff hence why they keep upping their prices the bigger they get just as any thriving company does. 

 

[Iron Giant]

They wont sack you off, you will just end up being outpriced as they will look after the big stuff hence why they keep upping their prices the bigger they get just as any thriving company does. 

I see what you are saying, but to a point they are simply no different to PayPal in the way that they started off cheap and kept on their hiking prices the same thing will happen with those card readers it's only a matter of time all these firms will have a vast amount small businesses using their service which will be grossing them millions to billions per annum

For me I have a lot of stuff going on with my businesses plus stuff outside work which keeps me really busy so I don't mind paying for something that is going to save me time to do other things, also my bank is now a 20 mile round trip so that's totally sacked off in terms of depositing cash and I can bank cheques via the app on my phone, so happy days for me ?

 

[Cleanco]

I see what you are saying, but to a point they are simply no different to PayPal in the way that they started off cheap and kept on their hiking prices the same thing will happen with those card readers it's only a matter of time all these firms will have a vast amount small businesses using their service which will be grossing them millions to billions per annum

For me I have a lot of stuff going on with my businesses plus stuff outside work which keeps me really busy so I don't mind paying for something that is going to save me time to do other things, also my bank is now a 20 mile round trip so that's totally sacked off in terms of depositing cash and I can bank cheques via the app on my phone, so happy days for me ?

That’s why I don’t use PayPal and begrudge using my card reader and only when there’s no other option. What works for one may not work for another. 

 

[Bart90]

This is just another reason we won’t use theses firms they wait until you  are committed to them then drop the bomb shell prices are going up and there is nothing you  can do , we only accept cash, cheque, and bacs payment in my opinion the old wages are best . 

Someone was posting on the other forum that a customer hadn’t paid  them for Over a year but go cardless  and a soft   ware provider was saying they had paid then suddenly said they owed over a years money , and you  are paying  a monthly subscription for  this rubbish , right rip off .

How do you keep track of your payments as I know you use work sheets like me?  For me, at each job when back in the car, I fill in the date in the excel sheet and a X if not paid and a P for paid. Then it goes in a debts book.  Check banking every week and cross off payments in the book. Interested to see how others do it who don't use GC......It needs to be spot on to know payments aren't missed.

I avoided GC as I thought this would probably happen.  Ive got two slow payers on it and that's it. Cost me £2 in expenes this last tax year but rather that than more serious money.

 

[Pjj]

How do you keep track of your payments as I know you use work sheets like me?  For me at each job, i fill in the date in the excel sheet and a X if not paid and a P for paid. Then it goes in a debts book.  Check banking every week and cross off payments in the book. Interested to see how others do it who don't use GC......

I avoided GC as I thought this would probably happen.  Ive got two slow payers on it and that's it. Cost me £2 in expenes this last tax year.

We use spread sheets Ones that pay on the day it gets a tick in the box if not left blank , at the end of the week sheets are put into a diary I check on line payments  every couple of weeks and cross off the ones that have paid , ones that haven’t paid  get a slip with x2 on it next month ,,we have done it this way for over 20 years never had a problem .

 

[Bart90]

We use spread sheets Ones that pay on the day it gets a tick in the box if not left blank , at the end of the week sheets are put into a diary I check on line payments  every couple of weeks and cross off the ones that have paid , ones that haven’t paid  get a slip with x2 on it next month ,,we have done it this way for over 20 years never had a problem .

This is more efficient than the way I'm currently doing it. I'll trial this way and see how I go! Cheers

 

[Iron Giant]

We use spread sheets Ones that pay on the day it gets a tick in the box if not left blank , at the end of the week sheets are put into a diary I check on line payments  every couple of weeks and cross off the ones that have paid , ones that haven’t paid  get a slip with x2 on it next month ,,we have done it this way for over 20 years never had a problem .

I like the 'we' as your wife does it all and apparently you don't pay her well enough ?

 

[Iron Giant]

That’s why I don’t use PayPal and begrudge using my card reader and only when there’s no other option. What works for one may not work for another. 

You made the jump to CP give it another year you will come around ?

 

[Pjj]

I like the 'we' as your wife does it all and apparently you don't pay her well enough ?

Shuuuuuuush dont  tell everyone ????? Ime very good at doing the job , getting new customers and running the buisness day to day but yes you are right the wife does the paperwork, I hate it with a passion if I did the books I would be bankrupt one week and a billionaire the next ??

 

[THL4KEL]

I see what you are saying, but to a point they are simply no different to PayPal in the way that they started off cheap and kept on their hiking prices the same thing will happen with those card readers it's only a matter of time all these firms will have a vast amount small businesses using their service which will be grossing them millions to billions per annum

For me I have a lot of stuff going on with my businesses plus stuff outside work which keeps me really busy so I don't mind paying for something that is going to save me time to do other things, also my bank is now a 20 mile round trip so that's totally sacked off in terms of depositing cash and I can bank cheques via the app on my phone, so happy days for me ?

Most banks let you pay in and withdraw out of any Post Office.

 

[Chris34]

How do you keep track of your payments as I know you use work sheets like me?  For me, at each job when back in the car, I fill in the date in the excel sheet and a X if not paid and a P for paid. Then it goes in a debts book.  Check banking every week and cross off payments in the book. Interested to see how others do it who don't use GC......It needs to be spot on to know payments aren't missed.

I avoided GC as I thought this would probably happen.  Ive got two slow payers on it and that's it. Cost me £2 in expenes this last tax year but rather that than more serious money.

I have all the days date order in column 'A' on a continuous worksheet.  For each day I have the customers names that I've done on that day or are due for the next day [basically my weeks work ]  then next to the names I have the amount of money each job is.  When they've paid I colour the box green, when they haven't then it stays blank.  If I have a missed payment via GC then I mark it red.  At the end of each week I total up all the figures to give me my weeks turnover.  

It's hard to explain so I've just made up an example.  

The four different colours represent the 4 weekly cycle.  So further down you can see the next time those on the blue cycle are due very easily.  I use this one spreadsheet to schedule my work, write notes, track payments and also keep an eye on my turnover for each week.  It works very well as everything is in one place.  The boxes only go green when I've received payment or I've processed the GC payment.

*On Wednesday, there should be just 3 figures to the right as there were only 3 customers in the example.