NETWORK TOPIC March2010
Just a quick rundown here on a problem our Treasurer encounters with payments made via the Internet.
Please get to know your particular Bank’s Transfer page. Some Banking institutions provide a “Your transaction description” section and a “To account description” section, whereas others just have a box labelled “Reference” or “Details”.
It is important to realise that the “To account description”, “Reference” or “Details” boxes are there for the benefit of the receiving account holder – in our case US.
Therefore when you simply put in something like “Grapevine ad”, thinking it is for your information, it really doesn’t tell us anything about who is sending us the money . . . . and this is something that you really, really want to be taking credit for!!
So, in summary, if your Bank’s form offers both TO and FROM description boxes, make sure that you identify yourself as paying in the FROM box. BUT If your Bank’s form offers only the one box for information, do make sure that you put in information that helps US to identify that you have paid the money!! The invoice number and shortened business name is plenty. Ring me if unsure what to put to identify yourself. Also send us an email indicating that you have made the payment. Doreen.
