Tag - manage your debtors

• Tip 1:

Agree credit limits with customers at the start of the relationship

• Tip 2:

Use an accounting software to create invoices and receipts. Ensure it can generate aged-debtors reports, allocate credit limits and trigger reminders for due invoices

• Tip 3:

Make debt recovery a major accounting process in your business. Have a specific day of the week when debtors are called and a report is compiled

• Tip 4:

If you have a team of marketers who manage your customers, make them responsible for recovering debts, allocate some portion of their perfomace to it.