Debtors Management is an enormous problem for the majority of small/medium enterprise operators who have given credit to their customers.
The Small Business and Family Business Ombudsman recently indicated that the Australian debtors’ days outstanding is one of the highest in the world at 56.8 days.
The Australian Prime Minister, Malcolm Turnbull recently announced that the Australian government departments have been instructed to pay bills owing to SMEs within 20 calendar days of the date of the invoice.
This is great news for the small/medium enterprise community – especially for those SMEs who have dealings with federal government departments.
Hopefully big business will be able to follow this initiative of the government.
However one of the main problems is that many small/medium enterprises have not implemented appropriate debtors’ management systems nor do they regularly calculate their own “debtors’ days outstanding”.
ESS BIZTOOLS Debtors’ Management System has been designed to assist accountants/business advisors to advise your clients on the implementation of appropriate systems for the control of one of the biggest assets that most small/medium enterprises have – sundry debtors.
The ESS BIZTOOLS Debtors’ Management System assists accountants to advise SME clients on an appropriate debtors’ management system which should contribute to the lowering of debtors’ days outstanding, thus creating to an improved cashflow position for the business.
Paper on Debtors’ Management.Work Programme, Budget, Quotation Form for the Debtors’ Management Evaluation Assignment.Proposal for a Debtors’ Management Evaluation Template which you can use or prepare your own.
(After receiving client’s acceptance of proposal).Assignment Control Form to assist in the allocation of work to the various team members.
Debtors Review Questionnaire – to enable an in-depth review of the client’s debtors system to assist in the identification of any weaknesses.