Housekeeping: Opening a New Account

Yes we have raised this issue before (please see our previous blog on good housekeeping)

But it does remain an important issue!

Even in spite of our team’s best efforts, poor housekeeping can affect our ability to deliver a positive solution.

And we are here to help!

Our team is increasingly coming across situations where the debtor is described as either a non-corporate “company”, a trading name or just part of a company name.

If the customer is really a non-corporate you should be invoicing the actual owners- for instance “Albert Bloggs /Bloggs Electrical”. If it all goes a bit wrong and we have to take Court action then we would have to take action against Albert Bloggs and not just Bloggs Electrical. We understand that information can be misplaced or unattainable, but if you don’t know who the owner is neither do we, and we may struggle to get you a full repayment.

CPA Members and clients are supplied with Credit Application forms to use when they consider granting an applicant credit. They should be used in any circumstance, even if the debtor is reluctant or puts up a fight. In circumstances where we are asked to chase a Limited company or are supplied only part of a company name, using a credit application is essential..

For a sole trader there are Business Owner reports available on StatusReportLINK, but remember you must have a completed and signed credit application form before you download this report. If you need more information on this type of report then please email me at cshirley@cpa.co.uk or call on 0330 053 9263.

Getting this right at the beginning will be a lot easier before issues such as late payment start impacting your relationship with the customer.

Points to remember:-

  1. The credit application form needs to be signed by an officer of the company, i.e. a Director or Company Secretary. Please don’t send it to someone in accounts.
  2. Make sure you keep a copy of the application form as this will be needed if we have to claim any fees or costs.

If you have any dealings with potential clients and their details or status information are looking a little murky, then please use the credit application form we have supplied you.

If you are not a member/client and would like to discuss how we can assist you in all aspects of credit control then email me at cshirley@cpa.co.uk or call me on 0330 053 9263

Cris Shirley  Customer Services Manager.

The Credit Protection Association is a credit management company established in 1914. If you supply goods or services on credit then we can help you!

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