Finance and Accountancy Briefing
Tightening the Noose on Bad Debt
Poor cash management impacts your own working capital, eating into the amount of money you have to invest in the business and affecting your ability to pay your own debts. Furthermore, the longer a debt is outstanding, the greater the risk of the customer going out of business and the greater the cost of resolution. In the first section of this white paper, we provide a checklist of cash control practices that will help you to create an effective regime for improving cash control.
We then go on to explore the contribution that non-finance employees can make to prevent bad debt accumulating in the first place, by making bad debt a company-wide concern. In particular, the purpose of the white paper is to highlight the importance of not only getting the customer's money in the bank but also ensuring it stays there.
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