Business Banking

Cornholio_2

Does anyone know what the norm is for business banking- ie is it every 7 days? Monthly? Quarterly? Annually?
I had some materials delivered and gave the driver a cheque on the 28th April. Nothing has come out of my account and I'd assumed if it was monthly the cheque would have been put in at the start of May and come out by now?

jonesMUFCforever

It might still be in the driver's pocket!

If the suppliers have not chased you for payment I would not worry about it for now.

Cornholio_2

That's what I was thinking...it may be amoral and wrong but if you can get away with it then why not?! We need more materials so if I order some more, issue another cheque and it comes off in "x" amount of time then I'll know something has happened to it?
The materials were invoiced so I suppose some sharp eyed accountant may pick up on it if they do an annual audit/tally? But it'd be a drop in the ocean so would they spend time going through all the invoices to find it or write it off?
The worst thing would be if it had fallen down the side of the cab/behind the seat and it was found and put through in say 6 months, I'd need to keep the funds in the account anyway and sit on them or risk going overdrawn if I spend it and then it comes out....
If I cancelled the cheque at my bank in a couple of months and they then presented it would it just "bounce" or would they be informed it was cancelled by me?
£500...worth a shot- my conscience is ok with it, happened last yr got £100 of fencing stuff for a tenner cos they input the decimal in the wrong place and I genuinely didn't notice at point of sale. It was a week later I noticed the amount online and had to rake through the bin for the printed receipt to verify the mistake!

What a vagabond and a rogue eh.....:rotfl:

jonesMUFCforever

If you stop the cheque it would be returned as payment stopped - a no no if you want to do business with your supplier.

Cornholio_2

Cheers for that reply, it's what I feared would happen if I cancelled it- If it bounced and they knew i'd stopped it, months down the line, they'd be thinking(quite rightly) why did he stop it and why didn't he contact us etc.
Not good for future transactions that's for sure. If I do nothing but sit on the money it's there if they want it....;)