Controlling Credit
Controlling Credit Checklist
3. Re-examine terms of sale
Re-examine all quotations, price lists, invoices, statements and similar documents which you issue. Do they show the terms on which you do business, especially the terms on which you grant credit? Don't be afraid of informing potential customers and clients of your terms. If you are serious about credit control, they will need to know sooner rather than later. The chances are that they will respect you as a supplier who takes a business like approach rather than 'making up the rules as you go along', or, worse still, has no rules at all in place. Be aware that contracts are established and that all documentation prior to invoice is amended and updated as necessary. Care needs to be taken to ensure that your credit terms are not replaced by those of a customer or client as detailed on their order document.
4. Access credit risks Re-examine all quotations, price lists, invoices, statements and similar documents which you issue. Do they show the terms on which you do business, especially the terms on which you grant credit? Don't be afraid of informing potential customers and clients of your terms. If you are serious about credit control, they will need to know sooner rather than later. The chances are that they will respect you as a supplier who takes a businesslike approach rather than 'making up the rules as you go along', or, worse still, has no rules at all in place. Be aware that contracts are established and that all documentation prior to invoice is amended and updated as necessary. Care needs to be taken to ensure that your credit terms are not replaced by those of a customer or client as detailed on their order document.
Future Practice Owner.
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