Many businesses have problems with cash flow because of poor credit control and debt-chasing procedures.

Here are some of the top ways to control your debtors:

1. Never issue credit to a new customer without carrying out a full credit check
2. Raise invoices promptly - a customer can't pay the invoice if you haven't sent it out!
3. Ensure customers know your credit policy
4. Ensure statements are sent out promptly at the end of each month
5. Contact all overdue customers by telephone to chase payments
6. Have systems in place to ensure overdue customers cannot order
   more goods and services until payment is made
7. Take legal action to recover debts that are long overdue