Credit Control positions are varied. The entry level positions are often only dealing with paperwork – sending out invoices and credit notes – or telephone calls to hundreds of small accounts.
The following outlines credit control duties:
- Credit controllers often have their own book of debtors accounts to manage, over time they will become very familiar with these companies – what their needs are and how to deal with late payments on each of them.
- Credit controllers use email, letters, and telephone to contact debtors and ensure payment of outstanding invoices.
- They credit check new customers and open new credit accounts ensuring the company has all the relevant information on the debtor.
- They keep a record of all communication with the customer, this is important when there are payment problems and the account becomes legal, these records are needed for court proceedings.
- They resolve all problems for clients, copy invoices, proof of delivery, credit notes, and liaise internally to progress any problems that are being handled in any other department.
- Often they will instruct collection agencies and / or solicitors. (Credit controllers will often appear in court to represent their company)
- Some may deal with factoring and credit insurance.
- They will reconcile accounts and do the same for the month end for the whole debtor ledger.
- They report to management on outstanding issues and inform them early of potential debtors problems.
- They may deal with liquidators and ask for bad debts to written off.
The above are general out lines and any credit control job may include all of these or just some, depending much on the level of staff experience.
If you start in credit control and do not have a good qualifications this is an area that should be addressed. There are not many specific credit control courses or qualifications, however all credit controllers should aim to complete relevant financial courses – for example, Accounting Technician and / or accounting with the ACCA.