Money,money,money...

[louise]

Hi all,

This one is mainly for the home based/mobile nail techs, but please feelfree anyone to reply!!!

Just wondering what you keep your hard earned money in?

I was thinking of getting a little money safe or something any ideas please!!!

 

[izzidoll]

gosh!..............I only ever had a little cash box I bought at W.H. Smith & banked the squillions of cash regularly so that I could declare it all to the Inland revenue............... (well you can never be too careful they might have a spy on this site!)
Actually I should have had all my clients make their cheques payable to my Onestop nail shop as I spent it all there......!cut out the middle woman! Seriously a small cash box does the trick...!

 

[louise]

Thanks Isabel.

A small cash box is exactly what i am after.Off to whsmiths asap tommorrow!

 

[Christine G]

Try Rymans the stationers, I vgot a dinky little black one from there, has a lock and key and a shelf for coins inside,,,,,,,,,,,,,,,,,,,great size to carry around if your'e mobile.

Thanks Isabel.

A small cash box is exactly what i am after.Off to whsmiths asap tommorrow!

 

[izzidoll]

Plus Loiuse, I think If you are mobile doesnt it help if you take out an actual cashbox for the cash, and sit it there ? just to remind the client that this is a professional treatment in the luxury of her home, and it would act as a promt............despite years in business I still always hated the actual asking for the cash, but maybe thats just me........would be interested to hear what the mainly mobile techs think, and what they actually do, Is it Cash up front before you start?

 

[caz3]

I have just got a little black cash box with a key. In side is a lift out shelf which you put the coins in and you can lay the notes at the bottom.

Kids bought it for me at Christmas and it is waiting to be used LOL! I think it had £10 in it I am not at the stage where money is involved yet LOL!!!!

Caz xxx

 

[ValencianNails]

I have a small cashbox too... when I go to freind's homes I don't bother taking it as they know it goes straight in my purse when I get home lol, but for people I don't know... I always take the cashbox

 

[Trinity]

Money goes in my pockets when I'm mobile - no cash box for me, I think it's a little too easy to steal and a bit obvious what's in it

In my home salon it goes in a cash box

Been keeping an eye out for a cheap second hand till too, but nothing so far

Trin
xx

 

[twinkletoes910]

i agree with trinity, isn't a cash box a little too easy to spot and steal? this might sound silly, but what about something that doesn't LOOK like it has money in it? a lunch box or makeup bag or something like that? personally, for services in my home.. i have a large candle holder/topper thing that i shove money in between services. good thing i dont have a candle in it too!!

 

[perfect ten]

when i work mobile the money goes in my pocket, when i work at home i put in the cupboard above my computer desk it has a lock.

 

[Northern Nails]

Mine goes in a pouch inside my bag, i think a cash box is too obvious. i know of a mobile therapist who only accepts cheques and doesn't deal in cash, solves the problem of having to have lots of change i suppose. Plus i find with cash i tend to spend it before it has chance to even smell my bank account......lol

 

[NoticeableNails]

I wondered if other people acepted cheques when you work mobile?
I have done from people I know, and so far no probs.
Has anyone had the rubber kind? what do you do about the bank charges?

 

[Northern Nails]

I dont pay any charges....i have free banking for 18 months at Barclays and when this is up i plan to tell Bartclays that i am planning to move to the Halifax where they will give me another 12 months free banking. They may extend there free banking, they may not.....either way i dont intend to pay it, i just keep switching.

One of my clients has had her business account for years and hasn't to htis day paid any charges. she tells her bank that she is going to switch banks so the extend her free banking. this has been happening for years!!!!

 

[buttonmoon]

i keep money in cash box at home till needed and take a purse out with plenty of change in it when at work (mobile)


i finish the treatment, get them to sign record card, make another appt, clean up a bit, write them out a reciept and hand it to them with their appt card and say something like-there we go, thats yours. then they give me the money

x

 

[bimbogeri]

Same as Trin and some of the others, when I am mobile the money goes into my wallet (carry enough change in it for it it's needed) and then at home it goes into the cash box.

The only thing is... I don't have a business account, I am just banking it all in my normal account.
I keep records of what is personal money and what is business money, but is it a legal requirement to have a business account/separate account? And if it is separate, does it have to be a 'business' account?

I bank so little money that I object to having to pay fees just because it's a 'business' account (plus right now I've been having to use my interest-free overdraft just to keep me going). Likewise, when Al started up he was told he couldn't get a business account cos he needed 6 months' worth of books to show them, so he just opened a second personal account. Confused now!

 

[buttonmoon]

good point, do you really need a business acccount????
can it just be a seperate normal account?
x

 

[scattyfox]

I use a small tin in my drawer with change in it and then trasfer this to my safe.

this way i can't see the money and spend it i just keep enough change in the drawer to gve to clients.

 

[Vetty]

I've got a beautiful leather Penhaligons pencil case that my Mum bought me that I use for work money. It fits neatly in my handbag & keeps my business money separate from my personal money.....

Cash boxes aren't 'pretty' enough for me!!

 

[Trinity]

is it a legal requirement to have a business account/separate account? And if it is separate, does it have to be a 'business' account?

No it's not a legal requirement to have a business bank account (according to my accountant anyway) - The tax man doesn't care where you keep your money as long as you can prove it's either business money or personal money.

Most banks get a bit twitchy when you run a business through your personal account as they can make more money from you as a business customer. So technically you can use your personal account, but when the bank wise up they may make some charges.

I opened an Abbey Business Bank account, it's totally free for life as long as you keep within their agreed limiteds - it's something like banking no more than £3000 cash per month, ATM transactions only, no coinage, free cheques as long as they are kept within a certain limit, etc.

I've found it fab and really easy to set up - I chose not to have an overdraft but the facility is there if you want it. I also got a debit card so I can pay for my goods on-line etc.

Highly recommend it for us just starting out and not banking huge amounts at the moment :wink2:

Trin
xx

 

[cobweb]

I have recently opened a halifax account and the person who i dealt with actually recommended that i just have a normal current acc. she said that this was best as business accounts can get quite stung. very nice lady i thought and gave her a business card

deb x x

No it's not a legal requirement to have a business bank account (according to my accountant anyway) - The tax man doesn't care where you keep your money as long as you can prove it's either business money or personal money.

Most banks get a bit twitchy when you run a business through your personal account as they can make more money from you as a business customer. So technically you can use your personal account, but when the bank wise up they may make some charges.

I opened an Abbey Business Bank account, it's totally free for life as long as you keep within their agreed limiteds - it's something like banking no more than £3000 cash per month, ATM transactions only, no coinage, free cheques as long as they are kept within a certain limit, etc.

I've found it fab and really easy to set up - I chose not to have an overdraft but the facility is there if you want it. I also got a debit card so I can pay for my goods on-line etc.

Highly recommend it for us just starting out and not banking huge amounts at the moment :wink2:

Trin
xx