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When you run a business, payroll is an important part of your monthly processing. You need to pay employees correctly and on time if you want to keep morale high but there are also legal requirements to factor into the process, such as ensuring HMRC receives the information and payments they require.
EPOS provider Reposs has launched a new tool that allows retailers to check their prices against thousands of other stores. The update to the Reposs Core EPoS software provides daily updates on 50,000 nationwide lines to the more than 2,200 convenience stores using the system.
Both Bacs Direct Credit and Direct Debit payments work on a three day cycle, taking three working days to clear. Payments are submitted to BACS on the first day, processed by the banks on the second day, and simultaneously taken from the sender account and credited to the recipient account on the third day.
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