Collecting clients payments

[Onamatappear]

Hello All,
Collecting clients payments in the most efficient method possible.
My business involves selling advertising.
Once the advertising has been agreed with the client I will looking to take full payment there and then. A chip and pin machine will presumably be the best method?
However, If they decided not to take up a cheaper cost if paying immediately then I will hope to take half the costs with the balance to be paid in 30 or 45 days.
This is the stage I want to clarify.
A good friend has advised a standing order form, filled out by the client there and then, presented to the my bank who communicate with clients bank and order is set up and payment made on the Xth day unless cancelled. Is this right?
Do you have a better suggestion?

 

[ChrisCallaghan]

A few accountants I work with recommend https://gocardless.com/

 

[MyAccountantOnline]

Hello All,
Collecting clients payments in the most efficient method possible.
My business involves selling advertising.
Once the advertising has been agreed with the client I will looking to take full payment there and then. A chip and pin machine will presumably be the best method?
However, If they decided not to take up a cheaper cost if paying immediately then I will hope to take half the costs with the balance to be paid in 30 or 45 days.
This is the stage I want to clarify.
A good friend has advised a standing order form, filled out by the client there and then, presented to the my bank who communicate with clients bank and order is set up and payment made on the Xth day unless cancelled. Is this right?
Do you have a better suggestion?

For a one-off payment I would give the client an invoice with bank details to pay the balance when due.

A standing order would generally only be for regular payments for example monthly payments.

 

[AlanJ1]

A few accountants I work with recommend https://gocardless.com/

Used this numerous times and it's easy from both sides of the table.

 

[Pantrading2021]

A good friend has advised a standing order form, filled out by the client there and then

 

[fisicx]

A good friend has advised a standing order form, filled out by the client there and then

We have moved on a bit now and most people will do this online.

 

[JEREMY HAWKE]

We have two vans on hire from a large lease company and they use go cardless to take our direct debit I would imagine it is very good