You deserve to get paid – using Xero to improve your credit control! I’m sure that you have heard the sayings “cash is king” or “cash is the life blood of your business”. Good credit control is a key part of any cash management strategy, you’ve done all the work, delivered on time, spent time and money to deliver what your customer wants, now you just need to get paid.
Easy? Not always.
Many business owners don’t find the time to chase debts. You intend to call customers on a Friday afternoon, but something happens, and it doesn’t get done. The key to good credit control is traction and persistence, you need to keep on top of your debtors, keep organised and if you say you are going to call back on a day you need to make sure you do it.
Thankfully, there are tools within Xero that can help you to collect in the money you are owed. Some of the features which come as standard are:
- Invoice reminders for customers which can be turned on or off by each customer
- Email templates that can be personalised
- Automated “rules” that can be created – for example email 5 days after due date is past
- Centralised communication – so all emails and relevant documents can be stored in the customer’s account in one place
- Debtor reporting – to show you who owes you what
- It comes as standard with the package!
All these features will make it easier to keep on top of your credit control. After all, you have done all the work, you deserve to get paid!
The Shorts have achieved the highest Platinum partner status with Xero, we have over 80 users of which nearly 40 have the highest level of adviser status, who are able to help with any queries on how to use Xero and provide any training you might require. We also have a dedicated Software Projects Team who focus on making businesses more efficient, increasing productivity and driving growth using digital technology and systems and process reviews.
Contact Malcolm Pope or Tim Baum-Dixon if you would like more details on how you could transfer your accounting system onto Xero or click to arrange your free consultation
Other related links;
Alicia Williams
Alicia is Director of the Genus team at Shorts, a chartered certified accountant and Xero specialist.
View my articles
