PLAN TO SAVE MONEY

Hawera Star, Volume L, 6 March 1931, Page 10

PLAN TO SAVE MONEY

i hairy company letters ECONOMY IN NEW SYSTEM Dairy companies are among those who are seriously concerned at the increase it) postal rates. A dairy company of even moderate size posts its -suppliers (between 4000 and .5000 cheques annually. In addition, there lias been a considerable increase lately in the practice under which suppliers give merchants orders for monthly payments on cream cheques, the dairy company acting as tv collecting agency, so that the combination of stamp duty and postage promises to bo a. considerable item. In an attempt to effect economy in this direction, the Te Awamutu" Cooperative Dairy Company, Ltd., lias circularised its suppliers requesting permission to pay their cheques direct to the bank each month. Tho circular points out that the banks are agreeable to accept one cheque for the total lodgments, the dairy company furnisliing a statement showing the allocation of the cheque. The company also proposes to abandon the practice of posting the monthly credit notes, which will bo placed in suppliers’ cans in lut-ure. This practice was not considered safe under the former method, as a cheque accompanied each credit*, note. ,

The circular points out that the new method will not only save time in the company’s office, ami on the part of the li-ank staff, but will also obviate the necessity Per. suppliers making out pay-in slips and in manv cases posting their cheques to the bank, this in turn reouiring the bank to forward an acknowledgment. The company’s suppliers arc giving the necessary autli--o,'it-.V froelv, and it. is estimated that the new method will effect an annual -saving of about .-COO.