creditcontrol.me.uk
UK Credit Control Blog - Learn Credit Policies
http://www.creditcontrol.me.uk/credit-blog
More Costs to Credit. Company Debt Collection Done Right. January 29, 2016. How to Check Your Clients Credit Rating. October 30, 2015. Why Plumbers Need to Control Credit. September 14, 2015. Why Businesses Need to Shred Documents. August 17, 2015. The Psychology of Late Payment in Our Business and Personal Lives. August 3, 2015. The Cheque is in the Post. July 23, 2015. Insurance Guarantees and Indemnities for Credit Controllers. June 19, 2015. What does an Electrical Engineering do? April 19, 2015.
creditcontrol.me.uk
Credit Control Policies
http://www.creditcontrol.me.uk/credit-policies
More Costs to Credit. Company Debt Collection Done Right. Do you know what the credit control policy of your company is? Do they have credit policies? Credit control policies should be well thought out and be known, and have support through-out the company. Credit policies that are too firm do lose sales for companies, and credit policies that are too relaxed do cause an increase in the cost of bad debts. What you should take from this page:. Your company should have credit control policies. The Right At...
creditcontrol.me.uk
Cost of Credit - Credit Control
http://www.creditcontrol.me.uk/cost-of-credit
More Costs to Credit. Company Debt Collection Done Right. There are three measurable elements in calculating the cost of credit:. Interest paid or not received. Interest Paid (or not received). For companies selling services the cost of overdraft facilities can be minimal, it becomes more serious when the company provides good on credit. To calculate this cost at 10% on 100,000 owed by debtors:-. 100,000 X 10% then divide by 365 = 27.40 per day. VAT is normally payable quarterly; therefore by the end of ...
creditcontrol.me.uk
What Credit Sanctions to Use
http://www.creditcontrol.me.uk/credit-policies/credit-sanctions
More Costs to Credit. Company Debt Collection Done Right. Once you have decided your credit period the sanction must come after this. These will automatically extend the credit period. However they should also encourage payment and stop supplies or services being provided to that customer. Usual terms 30 days. First letter 35 days. Second letter 40 days. Seven day stop letter 45 days. Stop account, send legal 52 days. What Sanctions to Use? These are some Options:. Stop supplies until payment is made.
creditcontrol.me.uk
Special Cases in Credit Control
http://www.creditcontrol.me.uk/credit-policies/special-cases
More Costs to Credit. Company Debt Collection Done Right. In every business there will be special relationships. These should be highlighted on the credit control system using notes attached to the account. Many small businesses often have one major customer. I will not labour the risk associated with this, as I am sure that all business owners are aware of those risks. These major customers often make up a large part of the sales and they are therefore treated differently. Example of dominant customers.
creditcontrol.me.uk
Collections and Methods of Payment for Credit Control
http://www.creditcontrol.me.uk/collections-and-methods-of-payment-for-credit-control
More Costs to Credit. Company Debt Collection Done Right. Collections and Methods of Payment for Credit Control. October 23, 2014. There are a number of methods a customer can use to settle their account. We are all familiar with cash, cheque, postal orders or barter. In this post we shall deal only with payment for standard trade credit terms. Settlement should be in the credit policy of the company. Except in ‘cowboy’ organisations cash is very rarely used in large business transactions....Electroni...
creditcontrol.me.uk
Marketing Your Business on the Cheap - Credit Control
http://www.creditcontrol.me.uk/marketing-your-business-on-the-cheap
More Costs to Credit. Company Debt Collection Done Right. Marketing Your Business on the Cheap. May 16, 2014. SEO Search engine optimization is not cheap, unless you do it yourself. While an SEO specialist could charge your hundreds of dollars a month (and deservedly so, considering the results they can deliver), you can do it for free if you learn how it works on your own. Pick up a copy of. Sarah Danielson writes for Purchase Order Financing. You can grow your business and pave the way for more. How to...
creditcontrol.me.uk
What is Good Credit Control?
http://www.creditcontrol.me.uk/good-credit-control
More Costs to Credit. Company Debt Collection Done Right. Undoubtedly the best credit control initiative is to arrange the sales invoicing such that customers pay up front for goods and services. Despite care taken to exercise credit checks on new customers the actual payment experience is often more valuable in practice. When credit is tight during a credit crunch the money supply reduces and the cash flow of every business is affected. Business which have a lack of credit control over sales income ...
creditcontrol.me.uk
Make Your Accountant's Life Easier and Cheaper
http://www.creditcontrol.me.uk/make-your-accountants-life-easier
More Costs to Credit. Company Debt Collection Done Right. How to Make Your Accountant’s Life Easier. May 5, 2014. Tax time can be a harrowing thought for any one, but in particular business owners and the self-employed find it worse. This is because they have to sort their taxes themselves. Here are a few ways to make your life easier, save you some money and to make your accountant happy. This blog post was written for www.creganaccountants.ie – a leading accountants in tax planning Ireland. Mail (will ...
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