can anyone explain exactly what a credit controller does?

Question

I know its something to do with invoicing and collecting etc, but can someone explain it to me in more detail please

Answer 1

Credit Controller Career Description
Credit controllers are employed by firms to handle all the liaison and administrative duties arising from hire-purchase transactions. In this way the hire-purchase system can be managed on an organised basis and the interests of both buyer and seller can be protected.

Answer 2

Most companies in the Uk especially ones that export sell on credit terms. i.e payment is made in 30, 60 , 90 days time. A credit controller will keep tabs on the buyers account making sure they obtain payment at due date and that the buyer does not exceed their credit limit. This can involve assessing the buyer for creditworthiness,invoicing and debt chasing proceedures when they do not pay up and generally ensuring that the company selling the goods get paid. A good credit controller can be essential to a business in a very competitive market.

Answer 3

I hope this is not in too much detail!

MAIN PURPOSE OF THE JOB:
To develop and grow the co. in a profitable way, by making it easy and pleasant for customers and suppliers to do business with the co.
To pursue and pro-actively manage outstanding debtors for a number of branches (if any), achieving the departmental objectives of collecting outstanding monies, reducing overall debtor days and minimizing the risk of bad debt.
This list of duties and responsibilities is not definitive as you will be expected to take an active part in any branch operation when and if requested by a member of the Management Team.

RESPONSIBILITIES/DUTIES
1. To ensure that the Group Credit Control Policy is adhered to at all times.
2. To pursue and collect outstanding monies owed to the co.
3. Take responsibility for allocated branches and accounts
4. To work towards both individual and team targets set.
5. To instigate and establish good relationships with both customers and branches to aid in cash collection.
6. To ensure that the customers are regularly contacted by telephone in regard to the collection of outstanding monies.
7. To create and issue a suspend list for each branch, identifying problematic accounts.
8. To analyse and review the suspend list, liaising with the relevant branch to decide if accounts need to be placed on stop.
9. To ensure that both the customer and the branch are made aware via the telephone before any debt is passed to debt collecting agency or court action is instigated.
10. To ensure that desk diaries are kept up to date regarding follow up telephone calls to customers.
11. To keep bad debt levels to a minimum by immediately notifying the management of any potential problematic accounts.
12. To provide feedback to mgt during Branch reviews
13. To liase with the Sales Ledger Department to ensure Cash Receipts are actioned effectively.

Answer 4

They get on the phone & chase customers for payment, mainly. They can also perform checks on prospective customers to see if they are a risk & occasionally attend court hearings.

Answer 5

on the watch out for leaks !