Time-The Critical Factor In Credit Control/Management
Needless to say that when debtors are not paying us on time, we need to raise our alertness level as this can ultimately lead to a future bad debt.
So what might be some of the warning signs of a future bad debt?
Some examples are as follows:
- longer credit terms taken with approval, particularly for smaller orders
- use of post-dated checks by debtors who normally settle within agreed terms
- evidence of customers switching to additional suppliers for the same goods
- new customers who are reluctant to give credit references
- receiving part payments from debtors.
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July 27, 2007
Tags: Credit control, Credit management
Posted in: CREDIT MANAGEMENT/CONTROL
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