BAGMA - Clearing House for accounts

Clearing House for accounts Simply paying suppliers costs money in administration, postage, stationery and bank charges. For a nominal entry fee members can use one of the Federations most successful service for saving money every month. It is widely accepted that your membership fee can be saved by using this service alone. You tell us who you want to pay, we send you a pre-printed return form showing your suppliers and their code numbers. Just fill in the net amount you wish to pay next to the name, enclose a Remittance Advice or Statement for each (so that this can be fed back to your supplier) and send us one cheque for the total. The cheques are then cleared across the system and your suppliers are paid. There are three clearings a month (on the 10th, 20th and last working days of each month) and we need the forms only a few days beforehand.
So how much money can I save?
How much does it cost you to write a cheque?	.
How much does an envelope cost?	2p
How much does a stamp cost?	20p
A) Total	.
B) How many cheques do you write a month?	.
C) Total for one month A*B	.
D) Total for 12 months (C*12)	.
Cost of BAGMA Membership approx	£250
Cost of using the Clearing House	£30
E) Total for 12 months	£280
Saving by using the Clearing House = D - E
This does not take into account the time it takes to write out a cheque and all the other administrative costs that are incurred. Contact: Margaret Page or Robert Saddington (Head Office. 0121 446 6688)