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Post by mendipmagpie on Nov 10, 2006 22:42:42 GMT 1
I have today received a request from the treasury dept at Sillarys asking for proof of deposits sent in the first week in April of this year. I will not bore you will the detail but suffice to say that if proof by way of pay-in slips is not available the necessary amount will be taken from commission due .Fortunately I used a personal cheque for one .
The question I have raised is how on earth does it take seven months to decide that a deposit has not been either paid or received from the agent. The letter also advised that we keep payment records for six years especially where cash is concerned. I am quite at a loss as to why this is necessary. My understanding is that my taxable earnings are the commission from Hillarys and nothing to do with customer deposits. Surely the time to check deposits is before the final invoice is raised, or am I missing something.
Any enlightenment would be appreciated.
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Post by BlindWizard on Nov 11, 2006 11:14:48 GMT 1
Don't know the legal situation but as far as I'm concerned once they've paid me the commission on a job then they have confirmed they have received payment in full for the order.
Did they pay you the commission for that job ?
I copy the receipts and send the copy into head office then I've always have the original in case of query.
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Post by keenasmustard on Nov 11, 2006 14:10:39 GMT 1
I have today received a request from the treasury dept at Sillarys asking for proof of deposits sent in the first week in April of this year. I will not bore you will the detail but suffice to say that if proof by way of pay-in slips is not available the necessary amount will be taken from commission due .Fortunately I used a personal cheque for one . The question I have raised is how on earth does it take seven months to decide that a deposit has not been either paid or received from the agent. The letter also advised that we keep payment records for six years especially where cash is concerned. I am quite at a loss as to why this is necessary. My understanding is that my taxable earnings are the commission from Hillarys and nothing to do with customer deposits. Surely the time to check deposits is before the final invoice is raised, or am I missing something. Any enlightenment would be appreciated. their fault they should stand it, |
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Post by mendipmagpie on Nov 11, 2006 21:23:43 GMT 1
Hi BW &KM
Just so you know the state of play the following is quoted from the letter.
"As you may be aware we use a system called "T" deposits (temnpoary deposits)
These are the deposit amounts which are keyed onto your account when an order is placed. You should then forward payment to us within the next couple of days to be allocated to your account. The invoice therefore shows the deposit amount paid by the customer even if it hasn't been received at head office.
In most instances we have received the balance which is why you may have received your commission, but th "T" deposit is still outstanding.
You are advised to keep payment records for up to six years especially where cash is concerned.
If you cannot provide proof of a cash payment,we will have no alternative but to deduct the amount outstanding from your commission."
Yes I did get the commissions OK thats why I was surprised to be asked for proof of deposit payment.I have of course replied rather sternly.
Liike most of us I keep copies of reciepts stapled to the order for ref but I am seriously considering using an alternative to cash.
MM
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Post by BlindWizard on Nov 11, 2006 23:21:59 GMT 1
Interesting to know how they do it (or not do it  ) MM. As you say ridiculous amount of time to leave it. I think it's up to them to reconcile account within a week or to and query it then not months later. As you say probably better, if you have to take cash, to bank the cash and pay deposit by own credit card or cheque. I know they say you shouldn't but if they are not going to pick up a problem for months better all round to use own card/cheque, don't see what their problem is. Think I'll hold order as quote, pay cash into my bank (to check not fake notes) then release quote using my credit card to pay deposit. That way blinds don't get paid with dodgy notes, Hillarys get their money with less admin and I earn a bit of interest and any other card benefits - it's a win win situation. |
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Post by greenpesto on Nov 12, 2006 1:10:32 GMT 1
Perhaps this cash deposit issue is an idea of Sillarys to replace the 'clawbacks'? It may be difficult for some to prove they made payments via the Post Office or bank!!!!!! Another dodgy illegal move by H/O  !!!!!! Time will tell!!!!!!!!!! |
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Post by RED on Nov 12, 2006 9:08:59 GMT 1
Interesting to know how they do it (or not do it ) MM. As you say ridiculous amount of time to leave it. I think it's up to them to reconcile account within a week or to and query it then not months later. As you say probably better, if you have to take cash, to bank the cash and pay deposit by own credit card or cheque. I know they say you shouldn't but if they are not going to pick up a problem for months better all round to use own card/cheque, don't see what their problem is. Think I'll hold order as quote, pay cash into my bank (to check not fake notes) then release quote using my credit card to pay deposit. That way blinds don't get paid with dodgy notes, Hillarys get their money with less admin and I earn a bit of interest and any other card benefits - it's a win win situation. I had an issue, similar at the beginning of the year. Turned out that when a deposit went through SAM by card and you got the error report that it would be manually sorted by Head office, It wasn't. So stayed as a T deposit until someone contacted me to ask where it was. I was lucky and keep end of day reports every day so was able to prove it was payed by credit card. If you dont have this proof and customer decides to say they paid cash then you have to foot their bill. Unfair I know but all the more reason you must keep good records. Just run an end of day report once a week and file it away somewhere safe. Keep them in order and it will be worth its weight in gold as no matter how well you run your agency you are to some extent at the mercy of others that don't do it quite so well. Red |
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Post by grumperbear on Nov 12, 2006 10:29:43 GMT 1
When a customer gives me cash, l would write out a personal cheque to cover it, and then bank the cash at my leisure.
At random l have been selected for a tax inquiry. They think that l have another source of undeclared income amounting to £14K of cash deposits into my account.
So be careful.
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Post by mendipmagpie on Nov 12, 2006 21:42:08 GMT 1
Thanks Red
I had forgotten about that as I stopped doing them because of cost at the time. I do however always write the authorisation number, or not auth, on both my own work sheet and the final invoice.
MM
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) MM.
!!!!!!