Credit Control Management

Course Duration

• The Course is scheduled for 2 days

Course Pre Requisite

• An understanding of the Fundamentals of Accounting

Who should attend?

The course is designed for a person who has an accounting background and is responsible for the credit control function in their organization.

Topics Covered

• Guidelines to Effective Credit Control: Credit Control Objectives; Age Analysis; Know your products/services/company; Credit Policy: Opening of new accounts; Know your customers and their products; Collection Strategy- major and minor accounts
• Minor Accounts- Correspondence Collection: Why Correspondence Collection?; How the correspondence process works; Benefits of correspondence collection
• Major accounts: Proactive collection: Customer Information Document- Planning and Preparation; The phone Call- Speak to your Debtor; Records for documenting and controlling the collection process; COD Accounts; Overall Credit control approach; Benefits of Pro-Active Collection
• Debtors Queries: Cost of a Query; Logical Approach to Resolving Queries; Eliminating Root Causes of Queries; Query Form; Increase good customer service; Query Reporting within the organization
• Legal Collections- How the legal process works; Why you should do your legal collections; How to do legal collections; Benefits of doing your own legal collections; % returns on various legal steps
• Records for documenting and controlling the collection process of major customers: Control Reporting- Activity Reports; Monitoring Reporting- Result Reports
• Accounting Ramifications of Sales, Journals and Credit Notes: General Ledger Accounting- for Sales/ Debtors- T Accounts
• Debtors Control Account Balancing- Relevance and how it work
• Bank Reconciliation- Relevance and how it works
• Summary- Summary of Effective Credit Control
• Ultimate Credit Control- Best operating Practice for Credit Control Management