Series 3 of 3 Money – Debtor control

Jan 12, 2014 | Leadership & Culture

Money Tips: Debtor Control.

Always remember a sale is not a sale until the money is in the bank. Don’t be your customers banker!

Good Systems-policies and procedures and good staff to follow them = good results




  1. Always offer a number of ways to pay immediately.
  2. Have clear terms and conditions.
  3. Use trading terms that suit your business. Don’t give 30 days if you have to pay your suppliers 7 days.
  4. Be sure you know who you are dealing with. If customers want credit always have a signed application form, and check the details and references carefully.
  5. Set credit limits.
  6. Write out invoices and send immediately.
  7. Check all details are correct, Business name address and contact details.
  8. Have a written policy and procedures for following up on over due accounts and have effective ways for dispute resolution procedures. If a dispute occurs check your procedures and insure it does not happen again.

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