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Earlier article describe why the need to keep proper sales ledger. Incidentally,sale ledger section is also known as account receivable section in some companies. The Account receivable/sale ledger section involves in the billing and follow up of the customer on credit and other roles. At all times,management must ensure that the finance/credit department [...] It is important for both accountant and credit controller to understand the importance of keepng a proper sale ledger. In fact the sales ledger is an essential source of internal information about credit performance and it should be regularly updated for new invoices,credit notes and cash received in order to: produce accurate management information [...] Very often,when an inexperienced credit personnel called a deliquent debtor for settlement of his account,he or she will give many excuses(see earlier article on delaying tactics) hence it is very important to arm oneself with the relevant information. So what are such information? Append beow are some information that we should have before [...] [ click for more articles on credit management] In earlier article,we have said that we need to inform the customers of their credit limits. As time pass or when the customer requests higher credit limit,what should we base on to increase or decrease his credit limit? Append below are some of the major [...] [ click for more articles on credit management] To enable an effective follow up on customer’s overdue account,the credit controller should at least try to classify or categorize the customers into the following risk categories. However,try to be too rigid as these following risk profiles can change over a period of time whether [...] |  FCCA,CA(MIA)with more than 26 years of post-qualifying working experiences. Previous working stints with one of the big accounting four,Regional GFC & Group Treasurer in a group of Malaysian and Group CFO in Singapore public listed concern.Also author to another very popular free educational accounting cum finance blog:http://basiccollegeaccounting.com under the branding of College Accounting Coach. | |||||
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