September 22, 2015 20:18

Here are our Top Ten Tips for effective Credit Control:

1.Correct information recorded when setting up new client account
2.Credit Agreement form completed and terms understood by debtor
3.Prompt issuing of invoices and credit notes when necessary
•Include Retention of Title, Payment Terms, your phone number etc on invoice
4.For invoices into larger organisations, find out payment run date and get in before otherwise you have to wait another month
5.Ring and make sure invoice is received and processed, this gives you a chance to amend with PO number etc if necessary
6.Find out the name, direct number and email of the helpful person in Accounts Payable and get on their good side! 
7.Watch out for signs of trouble ie have the sales team briefed to watch for signs such as change in ordering patterns, ordering from other suppliers etc
8.Watch out for change in payment routines or calls starting to go unanswered etc
9.Keep within agreed terms, react quickly and record all conversations, ring back when arranged and follow through

10.Refer accounts promptly to LCMS when necessary to maximise collection and keep the door open for your customer to continue doing business with you. 

We can come along and share our expertise with your Accounts Receivable team.  Give us a ring or email and we will contact you to discuss your requirements.