‘Profitability Insights’ is a Tide Accounting and Admin Extra feature, that gives you insights on your accounting, and boosts your understanding of the financial, expense and profit trends of your business.
In the app, go to: ‘Admin’ > ‘Open Accounting’ > ‘Insights’ > ‘Profitability Insights’, and you’ll see your:
If you need to provide the address of your banking provider to the payee, tap: ‘Send’ > ‘Recurring payments’ > ‘Direct Debits’ in the app, and you’ll see it on the screen.
Profitability insights
Net profit and revenue
Expenses
All Direct Debit Mandates are verified and submitted by the payee.
If you’ve filled in a Direct Debit Mandate and it hasn’t been set up, please reach out to the payee for further assistance.
When are Direct Debits collected?
Direct Debit payments are usually collected from 3am on the due date - on weekdays, excluding bank holidays. If the due date falls on a weekend or a bank holiday, the payment will be collected on the next business day.
You need to make sure that you have enough money in your Tide Business Account the day before your Direct Debit is due.
Before the first payment, the payee should send you a Direct Debit Advance Notice, to confirm the amount and collection date. After that, you’ll receive a further notification only if there have been changes to the amount, due date or payment frequency.
Can I receive inbound Direct Debit payments?
We don’t offer this option directly at the moment, but you can receive Direct Debit payments in your Tide account if you set this up through a third-party provider in the UK.
