Managing debtors
A well managed debtors book will help to improve cash flow and reduce bad debts. This section tells you how to agree payment terms in advance, collect debts and manage your debtors effectively.
Credit Control
Anna Chartres and Duncan Webb from Lane Neave
Setting terms of payment
Getting paid on time by customers is a dilemma often faced by business owners. Setting and communicating terms of payment can help speed up the process.
The importance of trade terms
For businesses that sell on credit, having a credit policy with terms of trade is vital. This article looks at how these systems work, and their benefits.
Collecting debts through invoice discounting and debt factoring
An alternative to chasing up your debtors yourself is paying a factoring company to do it for you. Invoice discounting and debt factoring are the two main services offered by factoring companies.
Recovering debt from a company
There are a number of options for recovering a debt from a company. Some of the most common situations are outlined here.
How to collect debts
This online training module shows you how to improve the debt collection process in your business with good systems. Debt collection is a major cause of cash flow difficulties in many businesses and can contribute to business failure, poor performance and lower profits.
