Payments are in any company. And when the business is gaining momentum, there are more of them, as well as the problems associated with them. If you are having financial difficulties, you can always contact Payday Depot and they will help you. We tell you how to put things in order in payments using a single form. With it, you can collect payment documents in one place, and then quickly transfer them to the payment register and calculate the payment calendar. All you need is good Excel skills, knowledge of a few “secret” formulas, a sequence of steps, and patience.

How to create a form

To begin with, you need a budget classifier: a separate one for receipts, and a separate one for the company’s expenditure payments. The budget classifier is a constant. It will link all forms of control and planning of funds. If there is no budget classifier yet, it can be assembled from a standard set of articles. Even 5 is enough – even if they are not perfect and do not take into account everything, but start with them. The rest will be clarified in the process. Example names: wages, taxes, communications and the Internet, rent, etc.

Registration of documents for payment

All received documents for payment and payment schedules are regularly registered here. This is a guarantee of order and a guarantee that nothing will be lost and everything will be paid for on time. Yes, the first half of the information will have to be filled in manually as payment documents appear. You can then transfer unpaid and monthly payments from the previous period, and new payments as documents are received.

Registration of documents for receipts

It can be filled out in the same way as the expense payment form. For example, download all outstanding invoices and/or scheduled payments. Then leave only those that, under the terms of the contracts, will be paid in the reporting month. Benefit: You will have a detailed breakdown of expected receipts, but many daily adjustments are possible after the fact. This option is suitable for a stable income or a small amount.

When it is difficult to plan receipts for specific dates, it is easier to download a fact from the statement daily. Don’t try to fill in all the columns. Advantage: high speed and ease of information processing, but you will not have a transcript of the expected receipts. And it is important for the payment calendar. This issue will need to be worked out separately later.

Payment schedule

In part, this function is already performed by the BDDS of the month, if it is updated and planned under contracts. Partially it is performed by all registered payments. After all, the payment date is planned according to the terms of the contract or payment schedule with a margin of days without the risk of overdue debts. The function of the payment calendar is also performed by the register of payments, when you see the actual balance at the beginning of the day, the expected income – and adjust the payment plan.

On Tuesday, President Muhammadu Buhari signed the 2022 Supplementary Budget along with the 2023 Appropriation Bill into law in Abuja.

Buhari said during the event that the budgets are designed to cater for the 2023 general elections, transition programme and other issues. The budgets, which marked his last as president, are worth N21.83 trillion and N819 billion respectively.

According to a statement issued by the Special Adviser to the President on Media and Publicity, Femi Adesina, the aggregate expenditures of N21.83 trillion, is an increase of N1.32 trillion over the initial Executive Proposal for a total expenditure of N20.51 trillion.

The Senate had last week passed the 2022 Supplementary Budget. Buhari said it has become necessary as the country needs to respond to the havoc caused by the recent nationwide floods on infrastructure and agriculture sectors.

However, the president pointed out that the National Assembly has padded the Budget by almost N1 trillion.

”We have examined the changes made by the National Assembly to the 2023 Executive Budget proposal.

”The amended fiscal framework for 2023 as approved by the National Assembly shows additional revenues of N765.79 billion, and an unfunded deficit of N553.46 billion.

”It is clear that the National Assembly and the executive need to capture some of the proposed additional revenue sources in the fiscal framework. This must be rectified.

”I have also noted that the National Assembly introduced new projects into the 2023 budget proposal for which it has appropriated N770.72 billion. The National Assembly also increased the provisions made by Ministries, Departments and Agencies (MDAs) by N58.55 billion,” Buhari said.

He added that the Minister of Finance, Budget and National Planning will subsequently provide more details of the approved budget and the supporting 2022 Finance Act.

He directed the Minister of Finance, Budget and National Planning to engage with the Legislature to revisit some of the changes made to the Executive budget proposal, expressing the hope that the National Assembly will cooperate with the Executive arm of Government in this regard.

Buhari urged the National Assembly to reconsider its position on his proposal to securitize the Federal Government’s outstanding Ways and Means balance at the Central Bank of Nigeria (CBN).

“As I stated, the balance has accumulated over several years and represents funding provided by the CBN as lender of last resort to the government to enable it to meet obligations to lenders, as well as cover budgetary shortfalls in projected revenues and/or borrowings.

“I have no intention to fetter the right of the National Assembly to interrogate the composition of this balance, which can still be done even after granting the requested approval.

“Failure to grant the securitization approval will however cost the government about N1.8 trillion in additional interest in 2023 given the differential between the applicable interest rates which is currently MPR plus 3% and the negotiated interest rate of 9% and a 40year repayment period on the securitized debt of the Ways and Means,” he said.

The President directed the Ministry of Finance, Budget and National Planning to work towards early release of the 2023 capital votes to enable Ministries, Departments and Agencies commence the implementation of their capital projects in good time to support efforts to deliver key projects and public services as well as improve the living conditions of Nigerians.

Buhari highlighted key areas the budget was designed to take on. He said the 2023 Budget was developed to promote fiscal sustainability, macroeconomic stability and ensure smooth transition to the incoming Administration, adding that it was also designed to promote social inclusion and strengthen the resilience of the economy.

On other issues such as achieving revenue targets for the budget, the President asked MDAs and Government Owned Enterprises (GOEs) to intensify their revenue mobilization efforts, including ensuring that all taxable organizations and individuals pay their fair share of taxes.

The president also asked relevant Agencies to sustain current efforts towards the realization of crude oil production and export targets, as a means to achieve the objectives of the 2023 Budget.

“To augment available fiscal resources, MDAs are to accelerate the implementation of Public Private Partnership initiatives, especially those designed to fast-track the pace of our infrastructural development.

“This, being a deficit budget, the associated Borrowing Plan will be forwarded to the National Assembly shortly.

“I count on the cooperation of the National Assembly for a speedy consideration and approval of the Plan,” he said.

Concluding his presentation, Buhari expressed optimism that the next administration would sustain financial reforms initiated by his administration.

“I firmly believe the next Administration will also sustain the current public financial management reform efforts, further improve the budgeting process, and particularly maintain the tradition of supporting its Appropriation Bills with Finance Bills designed to facilitate their implementation.

“To sustain and institutionalize the gains of the reforms, we must expedite action and conclude work on the Organic Budget Law for it to become operational before the end of this Administration,” he said.

Elon musk’s SpaceX is launching a $750m in a new funding round in conjunction with silicon-valley venture capital firm, Andreessen Horowitz aka a16z, which is estimated to increase the America’s largest rocket company’s valuation to $137b from $127b earlier estimated in a prior funding in July last year.

Business Insider reports: “the round will likely be led by Andreessen Horowitz, also known as , a16z, per an email reviwed by CNBC, as the famed venture capital firm reached out to prospective investors”. The report also mentions prior backers for SpaceX as including; Founders Fund, Gigafund, and Sequoia.

“Over the last 12 months, SpaceX raised more than $2 billion, including a $250 million funding round in July, when it was valued at $127 billion.

“Bloomberg had reported in December that SpaceX was allowing shareholders to sell equity at $77 per share, which valued the company at about a $140 billion.

“Notably, a16z was also a participant in Elon Musk’s $44 billion Twitter acquisition, a deal that some Tesla investors have since lamented.

“Despite some snags in 2022, SpaceX still notched milestones, such as, its satellite internet provider Starlink surpassing 1 million subscribers. Musk also facilitated Starlink as an emergency internet provider for Ukraine citizens and soldiers amid the ongoing war with Russia.

“SpaceX, too, also had more than 60 reuseable rocket launches last year, via its Falcon program.

“Meanwhile, SpaceX launched more astronauts to the International Space Station, with NASA eyeing a large role including for a return to the moon” Business Insider reported.

Elon Musk’s SpaceX is seeking to raise $750 million in a new round of funding that values the rocket maker and satellite internet company at $137 billion, CNBC reports, citing correspondence. The funding round will likely be led by venture capital giant Andreessen Horowitz, also known as a16z, which also participated in Musk’s $44 billion Twitter buyout. Reuters reported in November that SpaceX was in talks about an offering of secondary shares that would value the company at up to $150 billion. SpaceX raised more than $2 billion in 2022 and was valued at $127 billion during a May funding round, CNBC reported. (LinkedIn News)