credit management and debt management checklist

1. Struggling with
debtors & getting
paid on time?
http://www.growyourbusinessclub.co.uk
Stop Struggling.
Start Growing.
TAKE ACTION TODAY

2. YES NO
Your Score:
Score more than 5 NOs? Contact Us
Before Your Competitors Do.
© Copyright, Fraser J. Hay 2013
http://www.growyourbusinessclub.co.uk
Do you have a written credit policy?
Do you have a written terms of business?
Do you have a written credit application form?
Do you perform credit checks on new client accounts?
Do you have credit limits on new client accounts?
Have your staff had training in credit assessment, collection or legal procedures?
Do you produce an aged debtor report on a monthly basis?
Are your payment terms reviewed annually?
Do your sales meetings include a review of overdue accounts?
Do you have a designated credit control department?
Do you have a designated credit control member of staff?
Do you outsource your credit control to an external agency?
Do you know how much debt and outstanding payments you have?
Do you know what the average debt per client/customer is?
Do you have any debts outstanding over 90 days?
Do you know what your competitor’s payment terms are?
Do you know what the industry average or norm is?
Do your customers regularly exceed your payment terms?
Do you compete by offering longer credit terms than your competitors?
Does your product, service or solution cost more than your competitors?
Do you know what giving credit to customers actually costs your company per year?
Do you know what it costs you to administer your invoices & statements?
Do you know what it costs you to send collection letters & make collection calls?
Do you know what it costs you in accountancy fees per annum?
Do you know your DSO (Days Sales Outstanding) for last month?
Is that acceptable?
Could the bad debt of the last 12 months have been avoided with good credit control?
Do you produce a monthly report of how much cash was collected against target?
Do you produce a Brought Forward, Raised, Resolved, Carried Forward monthly report?
Do you produce a monthly report of total bad debt & next month’s cash & DSO target?
Do you produce a monthly report of number & value of accounts with solicitors?
Do you produce a monthly report of all sales accounts with debt collection agency?
Do you know the legal entity/status of each of your customers?
Do you invoice promptly?
Do you request full or part payment up front?
Would you like a free confidential chat to discuss a NO WIN. NO FEE option? Chat to discuss your
score & your available options?
Identify the issues, challenges and obstacles that are preventing you from
getting paid on time. Answer each of the questions below, add up your total
NO responses then, get in touch.