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Free Credit Control Course - learn the basics of credit control for free!

Welcome to the Bookkeeping Master's free credit control course


The free online courses below will help you learn...

1. the basics of credit control

2. basic credit & debt terminology

3. the fundamentals of chasing debts efficiently and creating credit accounts

4. various credit control tips, advice, secrets and insights

To start the course, please use the links below...

*NEW* - The FREE Online Credit Control Course

Lesson 1 - Credit Control Basics

Lesson 2 - Approving Credit

Lesson 3 - Policies & Procedures

*Recommended* Sage Business Cloud to track and chase invoices

- *click here for a FREE TRIAL*

US clients should *click here for a FREE TRIAL*

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Credit Control Course - Part 1

Course overview

Course aim

What is credit control?

Why offer credit?

And more...

Credit Control Course - Part 2

Credit Applications

Trade References

Credit Checks

Credit Limits

And more...

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Credit Control Course Part 3.jpg

Credit Control Course - Part 3



Tips & Advice

Credit Control - Key Points

Credit Control Basics - Part 1 

What is credit control?

Credit control is the term used to denote the policies, procedures, processes, and strategies, used by a company, business, or other entity, to manage the credit it offers to it's customers. 

Not all businesses deal with an instant exchange of cash for their goods or services (cash sales). Instead, goods and services are often provided on credit (credit sales). Meaning that customers are invoiced for goods and services and pay at a later date. 

Why offer sales on credit?

There are a number of benefits to offering credit to customers. Offering credit can...

- Attract a larger clientele 

- Increase sales

- Strengthen customer relations

- Improve business logistics

- Help the business remain competitive

Credit Control Basics - Part 2

Credit Applications

Credit applications are completed by prospective clients. Applications require potential customers to provide details about their business, as well as trade references. 

Credit applications are useful for a number of reasons...

1. They provide a business with the direct contact details of their prospective client 

2. They provide references that can be checked to ensure the prospective client has been trustworthy and responsible in the past

3. The details on the application allow a business to perform a credit check 

4. The application is a document that can be useful, if legal proceedings are ever initiated

Credit Limits

After a credit application has been reviewed, checked, and approved, a credit limit should be agreed for the customers account. 

Credit limits should be based upon the recommendation of credit check software, the expected turnover from the customer, and how much risk a business is willing to take i.e. How much credit they are willing to offer. 

Credit Control Basics - Part 3

Credit Control Policies & Procedures

To ensure that credit is given and managed efficiently, a business should have a number of well-planned credit control policies and procedures. 

This should include tasks such as...

- All customers completing and submitting credit applications

- All customers receiving a credit limit

- A monthly review of customer account balances and credit limits

- A monthly review of outstanding and overdue invoices

- Specific days that sales invoices are raised and sent 

- Specific days that customer debts are chased

- A set of procedures to follow if an invoice is overdue 

- Rules, policies and procedures for pursuing legal action against a customer

Ready to take accounting more seriously?

Take bookkeeping and accounting to the next level by enrolling in the Bookkeeping Master's Ultimate Bookkeeping Course

Gain a certificate of completion 

Learn bookkeeping and accounting for limited companies

Learn how to create year-end accounts

Learn advanced accounting principles

*OLD (but still worth watching)* The FREE Online Credit Control Course

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