The Credit Controller's Desktop Guide / Edition 2 by Roger Mason | 9781854182999 | Paperback | Barnes & Noble
The Credit Controller's Desktop Guide / Edition 2

The Credit Controller's Desktop Guide / Edition 2

by Roger Mason
     
 

ISBN-10: 1854182994

ISBN-13: 9781854182999

Pub. Date: 09/28/2004

Publisher: Thorogood

Failure to get invoices paid on time always eats into profits, and frequently drives companies into liquidation. The Credit Controller's Desktop Guide is a comprehensive practical guide to collecting debts effectively and covers all aspects of the credit controller's work. Fully up-to-date and written in a clear, practical style, this desktop guide includes case

Overview

Failure to get invoices paid on time always eats into profits, and frequently drives companies into liquidation. The Credit Controller's Desktop Guide is a comprehensive practical guide to collecting debts effectively and covers all aspects of the credit controller's work. Fully up-to-date and written in a clear, practical style, this desktop guide includes case studies, standard letters and forms, and an update on the latest legal developments.

FULLY REVISED AND UPDATED...
... to reflect changes caused by The Enterprise Act 2002, it covers important issues including:

bad debts retention of title enforcing the judgment the increased importance of the final warning letter
WHY THIS BOOK WILL BE INVALUABLE TO YOUR BUSINESS

This book will enable you to:
quantify the true cost of credit to your organisation define the credit control policies that are best suited to you use a variety of proven collection techniques effectively anticipate and overcome excuses take legal action and achieve a satisfactory outcome detect warning signs of danger early enough

Product Details

ISBN-13:
9781854182999
Publisher:
Thorogood
Publication date:
09/28/2004
Edition description:
Second Edition
Pages:
326
Product dimensions:
6.87(w) x 9.00(h) x 1.09(d)

Table of Contents

Introduction
The cost of credit
Introduction
Cost
Possible savings related to profit
Personal knowledge of the cost of credit
Checklist
The right attitude for credit control
Introduction
Bonuses and commission for staff
Record the progress
Measure the results
Checklist
The right credit policies
Introduction
Should you give credit?
What nominal period of credit is allowed?
What actual period of credit is allowed?
What sanctions will you use?
What collection methods will you use?
What is a special case and who decides?
Is there a dominant customer and if so, what policies are appropriate?
Checklist
Contents
Opening a new account
Introduction
Application for a credit account
Trade references
Bank references
Credit limits
Checklist
Effective paperwork
Introduction
An objective look
Invoices
Statements
Order forms
Checklist
Letters
Introduction
Standard letters
The final warning letter
Individually composed letters
Checklist
Collection by telephone
Introduction
The right psychology
Preparation for success
The telephone call
Questions
The effective conclusion
Keep the history
Checklist
Overcoming excuses
Introduction
Paperwork
Payment systems
Customer disputes payment terms that have been agreed
Customer will not accept terms that have not been agreed
Customer says that he cannot pay now
Miscellaneous
Checklist
Sources of information
Introduction
Credit agencies
Trade references
Bank references
Companies House
Trade sources and your competitors
Credit insurance
In-house opinion
Your own records
Checklist
Credit Agencies
Introduction
Choosing the right agency
Credit agency charges
Failings of credit agencies
Reasons for problems
Methods of obtaining information
When to use credit agencies
How to best use a credit agency
Details of services available
Checklist
Factoring
Introduction
Non-recourse and recourse factoring
Invoice discounting
Some of the features of factoring
Advantages and disadvantages of factoring
Costs
Checklist
Credit insurance
Introduction
Considering credit insurance
Selection of risks to be insured
Financial provisions in detail
A guide to the cost of credit insurance
Working with credit insurance
Checklist
Less usual chasing methods
Introduction
Personal visits
EDI
E-mail and fax
The use of humour
Publicity
Stickers
Direct debits and standing orders
Bank transfers
Credit cards
Blacklisting
Harassment
Checklist
Warning signs – danger imminent
Introduction
Danger signs
Round sum cheques
Checklist
Conditions of sale
Introduction
The legal position with terms
Display of conditions of sale
The terms
Advice to buyers
The main terms affecting credit control
Checklist
Legal action – considerations prior to commencement
Introduction
Scottish law
The significance of retention of title
Have other steps been exhausted?
Without prejudice offers
Should you take legal action?
Look at your conditions of sale
Statutory interest
Who to use
Legal services
Taking action
Checklist
17 Legal action – obtaining judgment
Introduction
Selection of route to follow
Steps to winning judgment
The claim form in detail
Footnote – summary judgment
Checklist
Legal action – enforcing the judgment
Introduction
Enforcing judgment in a county court
Warrant of execution
Third party debt order
Attachment of earnings order
Charging order
Appointment of a receiver
Bankruptcy or winding up
Order to obtain information
The register of county court judgments
The High Court
Checklist
Winding up, bankruptcy, administration and receivership
Introduction
The threat of winding up and bankruptcy
Procedures
Wrongful trading
The order of priority in the distribution of funds
Administration
Receivership
Licensed insolvency practitioners
Practical advice
Checklist
Bad debts
Introduction
Get back the VAT
Look hard at the conditions of sale
Consider enforcing retention of title
Personal liability
The legal process of liquidation
And finally – learn the lessons
Checklist
Exports
Introduction
The law governing the sale
Agreement of conditions of sale
Methods of payment
Documentation
Factoring and credit insurance
Checklist
Appendix A: Legislation relating to statutory interest on late payment of debt
Appendix B: Companies House
Companies House addresses
Information available
Method of identification
Methods of obtaining information
Appendix C: Court fees payable in connection with legal action to recover debt
Appendix D: Forms and letters used in this Desktop Guide
Index

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