Wednesday, 21 June 2017 08:55

How to Set Up and Use a Stop List

Taking the decision to stop supplying a client can be one of the hardest decisions any company has to take. With every piece of business so hard won it can be difficult to take a firm line with your credit control and potentially prejudice further income.

But when a customer persistently refuses to pay in full and on time, sometimes you are left with little option but to act.

Published in Guides
Wednesday, 07 June 2017 13:56

How to Issue a Credit Note

Credit Notes are essentially a negative invoice used to rectify mistakes or credit amounts raised in your sales invoice. They may be used to credit all or part of an invoice depending on the circumstances and serve as an accounting record for both parties to counter the invoicing error.

Published in Guides
Thursday, 27 April 2017 14:37

How to Deal with Late Payment Excuses

Excuses, excuses… one of the most frustrating aspects of chasing unpaid invoices is dealing with the reasons customers give for paying late. When you have worked in the debt collection industry for as long as we have you can be sure we have heard some imaginative answers, along with some that are so old they were probably being used in Roman times.

The key thing to remember when faced with late payment excuses is this - your company is owed the money and you have every right to seek payment. Even when the explanations provided by the client appear to be genuine, if an agreed payment deadline has expired, you are entitled to be paid on time and in full and you have every right to pursue the payment.

Published in Guides
Monday, 10 April 2017 14:17

How to Calculate Late Payment Penalties

Not being paid on time is one of the biggest worries facing small business owners. Trying to recover outstanding debts can feel like a very lonely process if you are not aware of the help available.

One important thing to remember is this - as a creditor, the law is on your side. Since 1998, UK businesses have been legally entitled to charge interest on overdue payments owed by another company.

Published in Guides
Tuesday, 28 February 2017 13:20

How to Set Appropriate Credit Limits

In today’s economic climate, business customers and clients are increasingly asking for - and in many cases expecting - credit from their suppliers.

There are obviously many benefits to offering credit. It shows a willingness to be flexible which fosters stronger business relationships, and it helps to secure or keep important contracts. Used properly, extending credit for goods and services can give your business a competitive advantage and boost income.

Published in Guides
Tuesday, 07 February 2017 12:53

How To Use a Credit Limit Application Form

In the B2B world, practically every enterprise will extend credit to a client or customer at some point or another.

For vendors and resellers, credit facilities are a familiar part of payment terms. But even service providers will regularly be in the habit of extending credit to clients - remember, time is money, and any work you do before the first payment date can be considered as credit.

Published in Guides

Consider the following scenario. You are a small, up and coming web design company contracted to create a brand new site for a consumer-facing business. They want the works, attention grabbing graphic design, cutting edge multimedia content, intuitive and interactive navigation, and quality text content. Your small team spends weeks painstakingly programming the source code and curating the content to the client’s specifications. Finally, the site is ready to go live. You are rightly very proud of what you have created.

At this point, the client suddenly goes quiet. Won’t answer the phone, won’t return emails. The payment period on your invoice lapses. You offer to negotiate, still nothing. What do you do?

Published in Guides
Thursday, 27 October 2016 15:11

How to Create a Cash Flow Forecast

For thousands of small to medium sized businesses, cash flow is probably the single most important aspect of financial management. And yet when it comes to planning and forecasting, it often receives scant attention. Indeed, many businesses unfortunately only realise how crucial cash flow is when problems occur.

Published in Guides

Most businesses have experienced the worry and inconvenience of a client that always pays late. Short of ditching the client (and we are perfectly comfortable with advocating that as a tactic), there’s no rapid solution to the problem. But you can improve your chances of getting paid if you subtly change your credit control processes.

In this article we will explore a few easy ways to help you manage those 'tricky' clients and the excuses they use to delay payment beyong agreed credit terms.

Published in Guides
Tuesday, 02 December 2014 14:13

How to accept electronic payments

For small businesses, the internet has proved to be a great levelling ground, making winning custom less about size and brand power, and more about simply topping the search results.

But as more people prefer to pay remotely for goods and services, are small businesses at risk of losing custom - or worse, going unpaid for work done - due to their lack of good electronic payments technology?

Published in Guides
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Hitting the Headlines: Safe Collections in the Guardian

in About Safe Collections by Adam Home
If you're a Guardian reader, you may have seen Safe Collections' collections and partnerships manager Adam Home quoted in a Guardian Professional article on May 12th. Tim Aldred's piece looked at the case for credit control teams as a way for businesses to…

Hitting The Headlines: The Independent on Sunday

in About Safe Collections by Adam Home
In 2009 our founder and Managing Director was interviewed for a piece in The Independent On Sunday, this article is reproduced below with their kind permission. in 2009 we still went by our original name of Creditsafe Ltd, whilst our name may have changed our…