Credit Control
One of the biggest dangers for a business isn't whether the company is trading profitability, it's whether the company has enough money to keep trading. In other words does it have a healthy cash flow? Making a sale is just half the battle, no transaction is complete until the funds have been received, banked and cleared in your account
Incorrect credit management can have a devastating effect on a business; this often starts by cutting budgets (usually starting with marketing - which is the life blood of client retention and acquisition) meaning the business then does not grow and either stagnates or starts on a downward spiral
Our service is focused on strengthening your cash flow from day one, by:
- Updating and reconciling your sales ledger and control account
- Reviewing your credit terms
- Producing an aged debtors report, to give an insight into monies which are overdue
- Sending out letters to outstanding debtors
- Chasing payments and posting payments
- Providing recommendations to clients when legal enforcement is necessary
- Providing up to date details on the situation
This is one area of business that should not be left to chance and The Local Bookkeeper will make sure that it's not.