Payment Transactions: We arrange the payment of your purchase invoices and keep track of your receivables

Pay before payment deadline: Save interest, get discounts, avoid reminders

We, as certified tax advisors, process payments of purchase invoices of our clients upon request. This has several advantages:

  • We reduce your cumbersome work. You can focus on your core business.
  • You can be sure that the payment will be always made on time before the date, so that you don’t have to pay unneccsary interest.
  • You will get early payments discounts whereever possible.
  • Payment delays and unpleasant reminders are a thing of the past.

On this page, you can find:

Payment transactions for creditor management – procedure

We inform you of pending payments on a weekly basis on basis of accounting.

We check the account balance or the credit limit for sufficient liquidity to settle all open invoices. In case we notice a lack of liquidity, we will get in touch with you to decide with you which payments should be prioritized.

In case we take care of the payroll accounting on your behalf, we ensure that the payments to your employees, the tax office and health care carriers are processed on time. That way, you avoid any hassles. Of all official institutions in Germany, social security carriers are the ones that most often file for bankruptcy of default payers due to outstanding social security payments.

If you grant us a bank account authorization, we make tax payments on your behalf. That way, you can steer clear of reminders, penalty payments and fines and you can maintain a good relationship with the tax authorities. You can also issue a direct debit authorization as it is more cost-effective.

You get to keep complete control over your money and approve payments which we will authorize for payment on your behalf. Generally, one-time release is sufficient for recurring payments (rent, wages). Even foreign payments are not a problem for us.
Our certified tax advisors check all prepared payments the payments are released. Alternatively, we can prepare and upload payments to your online banking system which you then can release. We clarify any queries of the bank on your behalf.

Zahlungsverkehr vom Steuerberater abwickeln lassen

Getting the payment transactions processed by the Certified Tax Advisor has its advantages.

How expensive is a discount credit?

A supplier makes you the offer to either fully pay an invoice within 30 days or pay within 10 days with 2% trade discount. For interest paid on overdraft, your firm’s bank demands 10% interest p.a. and for credit on the current account, you get 0% p.a.

Is it beneficial to pay the invoice later or to pay the discounted amount within 10 days?

The difference between both the terms of payment must be projected over one full year so as to be able to compare the two situations. Since there is a time period of 20 days between the two terms, the discount of 2% is to be extrapolated to 1 year. If it is assumed that a banking year has 360 banking days, the interest rate p.a. is thus 2%: 20 days x 360 days = 36 % p.a. If it is further considered that the interest must be calculated on the payment amount reduced by 2% after using the discount, the interest rate is even slightly higher.

Result: In our example and in most of the cases, it is cheaper to make the payments by opting for discounts within the short payment deadline.

Using cash discounts helps you save money!

In our example, you pay only 10% interest p.a. for an overdraft loan to the bank, while you pay approximately 36% interest for the later payment of the pending invoice without the discount. The difference is thus 26% p.a. If you have any (interest-free) balance in the bank, then it is absolutely worthwhile to pay all the purchase invoices by using trade discount (36% p.a.)

Invoices you should not pay (yet)

Click on the link here to get to know why you sometimes should not (immediately) pay invoices. even when you are offered trade discounts.

Outgoing payments. Incoming payments. Transactions. And an insight into your business performance… we can take care of all of these!!
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