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Preventing late payment

In March 2019 the Chancellor promised further action to tackle late payments and the Small Business Commissioner has also upped his game. What should your plan of attack be and what might the new approach save? More...


New late payment rules

In April 2017 new late payment regulations come into force for larger companies. How will these affect your business, if at all? More...


Dealing with a very late paying, but crucial customer

If a key customer is very late paying a bill, you may be reluctant to follow your usual procedures and place the account on hold as you don’t want to sour the relationship. But what else can you do in this situation? More...


Dealing with extended payment terms

Your biggest customer has written to all its suppliers including your company, stating that it’s imposing 90-day payment terms. You want to keep the business but know that this move will damage your cash flow, so what should you do? More...


Dealing with a belligerent creditor

Your company is disputing the amount owed to one of its suppliers. However, the belligerent creditor has just instigated a formal insolvency process. How should you handle it? More...


Balancing sales and collection

For many businesses, responsibility for debt collection falls to the customer-facing staff rather than the finance department. If this is the case in your business, what can you do to help them? More...


Recruiting a credit controller

One of your finance assistants is leaving and you’ve decided that what the company could really do with is a credit controller as their replacement. When recruiting one, what should you be looking for? More...


Reverse factoring alternative?

With your larger customers trying to extend their payment terms to 60 or even 90 days, your cash flow is suffering. You’ve thought about factoring, but this is very expensive - is there a cheaper fast track to your cash? More...


Debtor days incentive scheme

Although larger debts are being collected, you’ve noticed that the level of older debts is building up. How can you incentivise your sales ledger staff to keep debtor days down to an acceptable level, with minimal intervention from you? More...


Credit sanctions

Commercial customers paying your bills late are costing your company money in the interest you pay to your bank. Late debts can easily turn into bad debts. What sanctions can you add to your armoury? More...
Last updated: 09.07.2020

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