Successful Credit Control

Course overview

This six module on-line course will give you everything you need to know about financial statements and the cost of credit, establishing sound credit policies and the latest techniques of efficient collection. It will also fully update you on credit agencies, factoring and insurance as well as some less unusual chasing methods.

It will detail all about legal action, when to go ahead, and then precisely how to act to ensure a successful result. Finally the last module tells you everything you need to know about bankruptcy, winding up, administration and receivership.

Course benefits include:

• Processes to minimise your exposure to bad debts and losses
• Advice on how you can play a significant part in keeping your organisation profitable
• Clear descriptions of the relationship between financial results, sound credit control policy and efficient collection
• A route map of when and how to take legal action for the recovery of bad debt
• Legal strength to your credit control activity by pin-pointing legislative back-up
• Details of more of the unusual but effective chasing methods

Designed specifically for:

• Credit controllers
• Finance directors and managers
• Company secretaries
• Legal advisor
• Managing directors of SMEs

Successful Credit Control

MODULE 1 - Understanding Financial and Management Accounting and Cash Flow

Balance sheets

Profit and loss accounts

Cash flow statements

Accounting records and systems

Accounting concepts, policies and standards

MODULE 2 - Ground Rules for Successful Credit Control Policies

The cost of credit

The right attitude for credit control

The right credit policies

Opening a new account

MODULE 3 - Credit Control Systems and Methods

Effective paperwork

Letters

Collection by telephone

Overcoming excuses

Sources of information

MODULE 4 - Credit Control Using Outside Agencies and Other Techniques

Credit Agencies

Factoring

Credit insurance

Less usual chasing methods

Warning signs – danger imminent

Conditions of sale

Appendix 1

Appendix 2

MODULE 5 - Credit Control and Legal Enforcement

Legal action – considerations prior to commencement

Legal action – obtaining judgment

Legal action – enforcing the judgment

Appendix 1

MODULE 6 - Credit Control Issues in Insolvency, Bad Debts and Exports

Winding up, bankruptcy, administration and receivership

Bad debts

Exports