Equipping professional accountants for sustainability
The International Federation of Accountants has developed a concise resource to guide accounting professionals and...
READ MORE1 in 4 businesses impacted by late payments
According to a new Xero survey of more than 1,000 SMEs, late payments have become a major stressor with 24 per cent of small businesses and sole traders delaying payments to themselves due to cash-flow challenges. A further 23 per cent are delaying payments to creditors or suppliers.
Sixty-three per cent of those surveyed noted they deal with customers or clients paying late. This coincides with the latest Xero Small Business Insights data that showed in August small businesses had to wait 23.7 days on average to be paid by their customers, which is the longest wait since September 2020.
Read more at Accountants Daily
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