Company Accounts, Invoice Accounts and How to Pay: A Simple Guide
Ordering for a whole team shouldn't mean chasing receipts, card details and spreadsheets. A company account keeps every order in one place, an invoice account lets you pay monthly on credit and you choose whether to settle by Direct Debit or BACS. Here's how each one works and which suits your business.
What is a company account?
A company account links everyone in your organisation to one shared account, so every order placed by any employee is visible in one place. No more wondering who bought what or digging through individual inboxes for a receipt.
With a company account you can:
See every order placed across the business, not just your own
Avoid duplicate purchases by checking what colleagues have already ordered
Re-download and reuse data or products bought by someone else in the team
Keep continuity when staff leave or change roles, as their orders stay with the company
Manage users by adding or removing employees as your team changes
Purchase order tracking so each order can carry your PO number, making it simple for your finance team to match invoices to approvals
It's ideal for teams of any size that want less admin and a clear view of company spending.
What is an invoice account?
These are An invoice account lets you order now and pay later. Instead of paying by card at checkout, your orders are added to a single monthly invoice, up to a credit limit agreed with you in advance.
The benefits:
One monthly invoice instead of lots of separate card payments
An agreed credit limit that gives you spending headroom while keeping budgets under control
Easy payment history so you can see what's been invoiced, paid and outstanding at a glance
Purchase order tracking so each order can carry your PO number, making it simple for your finance team to match invoices to approvals
No company card needed for staff who place orders
An invoice account works hand in hand with a company account: your team orders freely and finance receives one tidy invoice each month.
Direct Debit vs BACS: which should you choose?
Once you have an invoice account, you can pay your monthly invoice in one of two ways. Both are secure bank payments; the difference is who starts the payment and when.
Direct Debit: set it and forget it
With Direct Debit, you authorise us once and payment is collected automatically on the invoice due date. There's nothing to remember, no bank transfers to set up and no risk of a late payment slipping through. It's the best choice if you want to save admin time.
BACS: you stay in control of the date
With BACS, you make the payment yourself by bank transfer. It's a manual process, but it gives you full control over exactly when the money leaves your account. It suits businesses that run set payment days or want to choose their preferred payment date within our invoice terms.
At a glance
Direct Debit | BACS | |
Who starts the payment | Collected automatically | You, by bank transfer |
When it's paid | On the invoice due date | On a date you choose |
Admin needed | Minimal, set up once | Manual payment each month |
Best for | Saving time and avoiding missed payments | Choosing your own payment date |
Our tip: if you just want invoices paid on time without thinking about it, choose Direct Debit. If your finance team prefers to schedule payments themselves, choose BACS.
Getting started
Setting up is simple:
Open a company account so your team can order and see everything in one place.
Apply for an invoice account and we'll agree a credit limit that suits your business.
Choose Direct Debit or BACS to pay your monthly invoice.
We're happy to help you pick the option that works best for you.
