Plan ahead to avoid August Bank Holiday payment problems
As we have mentioned in a previous blog, Bacs published their 2019 processing calendar at the end of last year, which is a valuable tool that helps ensure you don’t miss important processing dates over the holiday periods. You can view the whole calendar in PDF format by clicking here.
With August Bank Holiday just around the corner, it is essential that businesses plan ahead to avoid missing important payment deadlines. Bank Holidays are classed as non-processing days which means that any payment which is to be made on Monday 26 August, will not be processed, so business owners and finance teams need to submit payments earlier in order for them to be processed in time.
If you have any queries about when you should submit your payments by, in order for them to be processed around the August Bank Holiday then take a look at this press release issued by Bacs, or if you need further information do not hesitate to contact us.
Further processing payment and calendar tips from Bacs:
- Submit your payment files up to 30 calendar days before the processing date and be aware of ADDACS (Automated Direct Debit Amendment and Cancellation Service) and AWACS (Advice of Wrong Account for Credits Service)
- Share the Bacs processing calendar with all your staff involved in processing your Bacs payments
- Review your payment submissions.
If this all sounds a little confusing to you, then get in touch to book your place at our popular one-day course, Direct Debit Made Easy. SmartDebit are one of the few bureaux qualified to provide Bacs accredited training.