This is the time of the year when the majority of your staff will take a well earned break and go on holiday. However, for small businessss will low staffing levels, this can prove to be a challenging time.

"This is the time of year when most staff will be taking their holidays. This year, with the recession looming over our heads, it is essential that firms examine their debt collection and bill paying procedures, and ensure proper safeguards are in place. Planning ahead can help minimise disruption and keep the cash flowing, " said Clive Lewis, Head of Enterprise at the Institute of Chartered Accountants in England and Wales (ICAEW).

Ten top tips for business to manage while staff are on holiday:

1. Getting cash into your business is as critical as paying out. At holiday times you will have staff away - but so have your customers. Plan ahead to avoid payment delays.

2. Make sure invoices are still paid on time otherwise you could incur penalties.

3. If the person authorising payment is away, make sure that someone else can authorise it in their absence.

4. Make sure staff complete a proper handover and that this is done in enough time before before people go away and covers all pertinent issues.

5. Debrief people when they get back - this will make them feel important to the organisation.

6. If you deal with businesses abroad make a note of their national holidays.

7. Try to anticipate employee holidays. How many staff and which staff can you afford to be away at the same time? Planning is vital - for instance two employees on holiday is not a problem but if they are from the same team it could cause issues.

8. See if staff are happy for others to have access to view their emails. This may help avoid any nasty surprises when they return.

9. Once people have returned from holiday, give them time to adjust. However try to make sure that people regain their productivity quite quickly.

10. Suggest that staff book their next holiday soon after they get back - this will give them something to look forward to and will also help you plan ahead.

Although having a fewer staff than normal can be frustrating, but following the above tips any disruption should be kept to a minimum. It is also worthwhile remembering that your employees are entitled to holidays and will probably be more productive when they return due to rest and relaxation they have experienced while away from the office.