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MSA Blog

Good Credit Control

By Barry Jenner
Some businesses visited recently were found to have inadequate credit control. The owners were not enforcing their terms and allowing debtors up to a year to pay!
That is ridiculous. Best practice is to follow up slow paying debtors a few days after they become overdue. With 30 day terms all debts should be collected in less than 60 days. Stop supply should occur when 60 days are reached.
In these challenging times businesses must be vigilant with credit control as failure to do so often results in business collapse.

 

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