Industry sector: Consumer services

Residential lettings: Payments to creditors

When you buy supplies of goods or services on account instead of paying cash there and then, your suppliers are your creditors until you pay them. Enter in your cash flow forecast the payments that you will make to your creditors (including VAT) in the months in which you will pay them. For example, you might enter into long-term agreements with firms providing cleaning, maintenance or gardening services for your rental properties. These firms will invoice you at regular intervals and expect you to pay within a certain number of days of receiving the invoice.