Credit Control Literature

Shazam69

Hi all,

I've been tasked with writting my companies Credit Control policies, while I'm happy doing same it would be of great help if anyone could recommend a book I could buy that I could use as a reference guide

Many thanks,

Shazam

mick.fr

Man I don't know but I love your sig lol

LauraOrlagh

Hi Shazam,
I'm sure by now you have your credit control policy written but if you do need any help or advice regarding your credit control policy I'd be happy to give you a helping hand.

Laura Kelly
http://www.creditcontrolcovered.com/
Laura@creditcontrolcovered.com

demijose

http://www.scribd.com/doc/12538897/Credit-Policy

I think this will help you..there are lot of documents available .. pls do type in ur required field in the search box and explore..

thnks

demijose

10 ways to improve your credit control

1 Ask your customer to complete a credit application form
Obtain all relevant contact and bank details, including registered office and registration number if it’s a limited company, or full names and addresses of all partners if it’s a partnership. Make sure the form is signed and dated by the customer.

2 Check the creditworthiness of new customers
Get credit references from your customer’s bank and key suppliers. Use a credit reference agency
for a more comprehensive report.

3 Agree payment terms in advance
Make sure your payment terms are clearly stated both verbally when orders are placed and on all paperwork that follows. If you charge interest on overdue accounts, this must also be stated
at the same time.

4 Send your invoice when goods are dispatched
Invoice within 24 hours of a chargeable event. Remember, nothing happens until your bill gets
into your customer’s payment process. The sooner you invoice, the sooner you get paid.

5 Check all invoices are sent to the correct address
The invoice address can often be different to the delivery address.

6 Send a statement of account
Customers generally pay on time, or when reminded. Sending a statement showing overdue invoices will act as a reminder and usually prompt payment.

7 Develop a ‘friend’ in your customer’s company
This can prove invaluable when you’re chasing unpaid invoices.

8 Chase late payers promptly
Phone overdue accounts, chasing the largest and oldest debts first. Take prompt action — it’s cheaper than escalating overdraft interest. If there is no response, write a formal letter, followed by a final reminder letter seven days later advising that legal action will follow.

9 Don’t allow customers to exceed credit limits
Credit limits are set for a good reason. Don’t allow them to be exceeded without your permission.

10 Set up a ‘stop list’
Make sure your staff know which customers are on ‘stop’ and do not allow any more orders to be taken without payment of outstanding invoices.

Remember: keeping control of the money flowing into your business not only improves the health of your business, it has a pretty good effect on your own health too!

boardswalker

1 way to beat advertising bar

Find 2 year old post and reply.
There'll always be innocents to keep it alive.
And your business will get plenty of exposure.

From Charter

kluivert wrote: »

Also the overt promotion of commercial activity and the use of the board as a vehicle for such is forbidden in accordance with the general rules of boards.ie