5 New Years Resolutions for Credit Control

1. Implement a Credit Policy for the business or review the current credit policy to ensure it's right and is working as good as it could be.

Many businesses don't have a credit policy and if that applies to you and your business then you should really implement one.

If you have one then you should regularly review it and ensure it is working for you.

A credit policy is a set of rules and criteria that you should follow when taking on new customers and considering extending them credit.

2. Ensure you have good / solid paperwork including terms and conditions as to ensure you are covered for Kate or non payers.

3. If extending credit ensure you use the minimum days of credit that you can get away with, to ensure you don't struggle with cash flow. Don't just put invoices on 30 days as normal, try 7 or 14 days and see what they think. Paying late by 30 days on a 7 day invoice is far better than being 30 days late on a 30 day invoice.

4. Rather than offering credit try taking payment upfront. This sounds like a simple idea but some sales people get on to bad habits and just offer payment terms as standard but on many of these occasions business would be happy to pay upfront on company credit cards, so try and get sales guys to change their ways and adapt to taking payments online or as part of cash collection implement processes of trying to take the payments upfront after the sales or orders have been completed.

5. Implement good solid credit control processes and procedures including wherever possible the use of automated systems to allow you to free up more time to get on the phones and collect any money due.

Interesting Articles about the Different Sample Credit Reports we have on our website:

Yesterday on our Company Website we had an interesting blog post about the different Company and Consumer Credit Report samples that we have available via our company samples page.

You can see the full blog post on:
http://www.creditserve.co.uk/Media-Centre/Blog/December-2012-1/Sample-Company-Reports-Business-Reports-and-Consum

The sample reports allow potential online purchasers to ensure they know what is included in a credit report before purchasing a report via our pay as you go online credit report shop.

We also offer free trials of our system for those interested in an annual Credit Control or Credit Management Package of Services including the online and offline Credit Reports that we can provide.

Company Filings & Requirements

Limited Company Accounts Filing Requirements

This blog is aimed to help you understand the account filing requirements for all limited companies in the UK. You can see below that there a different filing requirements for the various sizes of Limited Companies:-

Small Companies

1. What are the account filing requirements to qualify as a small company?

A small company must meet at least two of the following conditions:

                 

·         Annual turnover must be not more than £6.5 million;

·         The balance sheet total must be not more than £3.26 million;

·         The average number of employees must be not more than 50.

Companies that qualify as small sized companies are not required by Companies House to file a profit and loss account. They are required to file a balance sheet, directors report which is signed by a director and an auditors report. Public companies and companies within certain financial services cannot be categorised as Small Companies

Medium Companies

2. What are the account filing requirements to qualify as a medium-sized company?

To be a medium-sized company, you must meet at least two of the following conditions:
 

·         annual turnover must be no more than £25.9 million;

·         the balance sheet total must be no more than £12.9 million;

 

·     the average number of employees must be no more that 250.

Companies that qualify as medium sized companies are obliged to file profit and loss accounts (with the exception of turnover), balance sheet, group accounts if applicable, directors report which is signed by a director and an auditors report. Public companies and companies within certain financial services cannot be categorised as Small Companies 

Large Companies

3. What are the account filing requirements to qualify as a large company?

To be a large company, you must exceed at least two of the following conditions:

· annual turnover must be more than £25.9 million;

· the balance sheet total must be more than £12.9 million;

· the average number of employees must be more that 250.

Companies that qualify as large companies are obliged to file profit and loss accounts, balance sheet, group accounts if applicable, directors report which is signed by a director and an auditors report.

Creditserve offer the ability to access all company documents via our online shop on a pay as you go basis. We are also providers of business information, business credit reports, consumer credit reports, AML reports and debt recovery services so if you have any requirements whatsoever please visit www.creditserve.co.uk to view all of our products and services.

This blog was written by Martin Brown (Senior Account Manager) on the 19 December 2012. If you would like to discuss anything you have read or would like any advice relating to business information please feel free to contact me on 01992 414222 or martin@creditserve.co.uk 

 

Creditserve Business Information Ltd Now Offer A Further Three Online Countries To Our Online International Credit Reporting System

We are pleased to now offer three more countries to our online international credit reporting system which will now join the following online products:- 

• Belgium Credit Reports
• Czech Rep Business Report
• Denmark Business Information
• Finland Company Information
• France Company Data
• Germany Credit Reports
• Greece Business Report
• Iceland Business Information
• Italy Company Information
• Lithuania Company Data
• Malta Credit Reports
• Netherlands Business Report
• Norway Business Information
• Poland Company Information
• Slovakia Company Data
• Spain Credit Reports
• Sweden Business Report
• Switzerland Business Information
• USA Company Information

New Online International Countries

The 3 new online countries and new products launched by Creditserve Business Information are:-

• Canada | Canadian Business Report
• Portugal | Portugese Business Information
• Hungary | Hungarian Company Information

Who Would Our Online International Reports Benefit?

Our Online International Reports benefit businesses that trade directly with companies internationally and therefore need to confirm legal entity, financial history, group structure & credit rating.

 

These reports also benefit businesses whose UK based customers which have Parent Companies based overseas and therefore want to be sure of group strength and reducing the risk of UK business failure due to group companies elsewhere potentially being of high risk.

 

International Credit Reporting also assist UK businesses when being supplied by companies overseas and therefore being sure of a secure supply chain.

 

To view a sample of an Online International Report or If you would like to access our online shop to purchase an International Credit Report of your choice.

 

Article about our Free Trial offer for UK Business Credit Reports

UK Credit Reference Agency and Online provider of Business, Company & Director Credit Reports Creditserve Business Information Ltd (Est 1995) are currently offering a Free Trial to UK business, company and director credit reports to coincide with the launch of the new corporate website.

For more info on the offer please see the full post on the Corporate website blog:

http://www.creditserve.co.uk/Media-Centre/Blog/December-2012-1/Free-Business-Company-or-Director-Credit-Report-Tr

Creditserve Business Information Ltd have launched their new Corporate UK Credit Reference Agency Website and UK and Irish Business & Consumer credit report online shop

City of Hertford / Hertfordshire, South East England based UK & International Credit reference agency Creditserve Business Information Ltd have recently launched their new UK Credit Management Services Corporate website with new pay as you go online Credit Report and Credit Control Services online shop. 

The online company and director search and pay as you go credit report and credit control services shop is ideal for Business owners, Financial Directors, Finance Managers and Financial Controllers and those involved in Credit Management and Credit Control Activities, including Credit Managers and Credit Controllers who want to buy UK, Irish, European & International Credit Reports on a pay as you go basis, rather than on a large, expensive annual or monthly contract as provided by other larger UK Credit Reference Agencies.

The shop consists of UK & Irish Business & Company Credit Reports, UK & Irish Director Reports, UK & Ireland Companies House Documents including Annual Accounts, Annual Returns and other image documents, Online European & American Credit Reports, Offline Freshly prepared International (Global & Rest of World) Business and Company Credit Reports, Bespoke Sole Trader Reports as well as Consumer Credit Reports, Anti-money laundering (AML) Reports and Consumer Tracing services.

If you are a UK based startup, sme or large business or Corporate Company that require these reports or services to enhance your credit control procedures and activities then please take a look at our online credit report store and see what you think of it and our product range.

We can provide some free samples for those interested in many of our services and also have a Credit Report Samples page for you to view what we offer, prior to having to commit to anything from the online shop.

If you have any feedback for us or any questions please feel free to complete the online contact form or get in touch by phone 01992 41422 or email: sales@creditserve.co.uk

Outsourced Credit Control Services

Are you looking for outsourced credit control or credit management services?

Do you need an extra pair of hands in Credit Control during seasonal peak times or other pressure points when you are really busy?

Do you require temporary, short term or flexible cover for your credit manager or credit controller when they are on holiday, off sick or on maternity or paternity leave?

Would you like to employ or take on an external specialist outsourced credit control function to save you having to recruit and so that you can get on with what you do best, running your Business.

If you answered yes to any of the above questions then don't worry, help is just a phone call (or email) away.

With over 17 years experience of running a credit control services business and even longer being credit analysts, Creditserve Business Information Ltd's specialist can be used to get the credit control job done in all of the above pressurised situations.

You can call or email for more info on:
Tel - 01992 414222 or sales@iwantcrystalcouture.com .

You can also see more about what we do at http://www.creditserve.co.uk or by reading more of this blog or following us on Twitter: @Creditserve1

International, Global, European, USA and Rest of World Business or Company Credit Reports

If you are looking for International Credit Reports, Including European Company Reports, American Company Credit Checks, Global or Rest of the world Business or company financial information you're at the right place.

Here at Creditserve Business information we offer a number of international business credit report services including both online instant European & American reports and Offline Fresh Investigation Global and rest of the world business financial / credit reports.

You can buy the offline or online international reports either in annual subscription packages or on a pay as you go basis (for the offline reports).

The Online European credit reports cover reports cover over the Western & Eastern European countries including France, Germany, Spain, Portugal, Italy, Sweden, Norway, Netherlands, Belgium, Czech Republic, Finland, Austria, Switzerland, Lithuania, Malta, Greece etc.

We also offer American, USA or the united States of America business Information and credit reports online and then for the rest of the world we offer offline international, fresh investigation reports.

These reports cover North & Soth America, Europe (any countries not online), Africa, the middle East, The far east, Asia & Australasia including Australia and New Zealand.

If you have any questions about our international credit report service or want to subscribe to a package please call: 01992 414222 or email: sales@creditserve.co.uk.

Anti Money Laundering (AML) Checks for Businesses

If you are involved in one of the industry sectors that has tough anti-money laundering compliance and you need to perform aml or identity checks on your customers or clients or you require identity or financial checks on your staff or subcontractors etc. then Creditserve can help.

We offer a range of customer identification, anti money laundering (aml) and financial checking products which can all be used to meet the compliance requirements.

For more info about the anti money laundering and consumer checking products or services that we can provide please contact: sales@creditserve.co.uk or call: 01992 414222.

Consumer Credit Checking for Businesses to use for credit checking consumer customers or small sole traders:

Consumer Credit Checking for checking consumer customers and small sole traders:

If you give credit to consumers or small businesses (sole traders and partnerships etc.) you will need to use consumer credit reports.

Many companies giving credit or opening trade accounts for small businesses use Sole Trader or Non Ltd reports, but as small businesses can be difficult to find on any Non Ltd company database it is often much better to perform a consumer credit search on the proprietor of the business.

The consumer credit report will often cover more information than a basic non ltd business report as it looks at the finances of the individual unlike the Non Ltd report which usually just looks at the type and age of the business and any bad payment experiences. (which can often not be shown due to much of this being in an individual's own name rather than their business name).

If you are dealing with lots of sole traders, like in Plumbing, Building, Electrical, Utilities, Office and Wholesale Shop, Fruit, Meat & Drinks supplies etc. then you are probably better of using a consumer credit check on the proprietor (if dealing with small values) rather than using an online sole trader or Non Ltd report.

If doing this, as under Data Protection regulation, you are required to be a registered Data Protection user and you require permission to perform consumer credit checks on the individual's. This permission is usually best requested for and placed at the bottom of any account opening form.

If you would like a packages of consumer credit reports for credit checking consumers or sole traders please get in touch: sales@creditserve.co.uk

* you'll notice I suggested using consumer reports for checking sole traders, when dealing with small values. This is due to the limited nature of the Credit Risk.

If you are dealing with larger values and therefore greater risks, I would recommend our Bespoke In-depth Sole Trader reports. These include consumer credit checks on any proprietors as well as specialist business questions and background business and proprietor asset ownership checks.

Please email the same address above if this is also of interest?

Bespoke In-depth Sole Trader reports on UK Businesses

If you deal with sole traders an extend levels of credit for thousands of pounds at a time, rather than using standard basic online non ltd or sole trader reports, why not try our bespoke in-depth reports service. For just £25 - £30 per report, we will thoroughly question the business, provide consumer background checks on the owners as well as check ownership details for the business and owners assets ensuring all the risks are fully understood prior to opening up any trade or credit accounts.

If this sounds like a service you would like to try please email: sales@creditserve.co.uk.
For more info or a sample of the bespoke reports please visit http://creditserve.co.uk

About Creditserve Business Information & the Business Credit Control or Credit Management Services that we offer:

Since incorporation in 1995, Creditserve has established itself in becoming a market leader in providing quality and in-depth business information reports, business and company credit reports and debt collection or recovery services to businesses and companies of all shapes and sizes including new, startup or small businesses, SME or medium sized business or companies and large corporate companies. 

When the company was first formed, it focussed on providing in-depth, quality non-limited information on sole traders, partnerships and newly incorporated entities.

We are proud to be recognised and utilised by many of the major European credit insurers.

This service is still very popular with our clients today, but added to it is our online capabilities along with a full in-house debt recovery department.  In addition to UK sole trader and company information we know also offer European & USA Reports online, as well as Fresh Investigation Offline International reports and online Consumer Credit Reports and AML or Anti Money Laundering ID Verification Checks.  

As a company, we pride ourselves on listening to clients' needs and requirements and matching them to the various services we offer.

We can either provide these services individually or put together a cost effective package to cover all eventualities.

If you would like a free demonstration of one of our company or business reports or some more info about our debt recovery services please gives us a call or email: sales@creditserve.co.uk (or complete the request a contact/demo form: For a Free Demonstration on a Company or Business Credit Report

What is a Company Credit Report from Creditserve

What is a Company Credit Report?

A Company or Business Credit Report from Creditserve Business Information is a financial assessment report on a Ltd or Plc Company (company report) or an unregistered business such as a sole trader or partnership (Business or Non Ltd credit report).  

The reports are produced based on the most up to date business financial information available and compromises of the Company Accounts (Ltd & Plc Companies only), a Credit Rating & Limit, Directors or Proprietor details and a history of any bad payments (County Court Judgements / CCJ's) or Writs.  

For Ltd / Plc or Registered Companies there is also a Corporate, Group Structure or family tree of the company and the Group it belongs too and the subsidiaries that it might have (if it does belong to a group).  

The information within a Company report comes from official sources including companies house, registry trust and London, Edinburgh and Belfast Gazettes.

The information within a Business report comes from Private Directory suppliers and Registry Trust. 

The company or Business credit reports will provide you with all the details you need to help you make the most accurate and up to date business decisions on your customers, suppliers and competitors.

If you would like a free demonstration of one of our company or business reports please gives us a call or email: sales@creditserve.co.uk (or complete the request a demo form:For a Free Demonstration on a Company or Business Credit Report

Business or Company Credit Reports & Debt Collection Services for Businesses

Welcome to the Creditserve Business Credit Reports and Debt Recovery Information and Blog website.

If you are a small, medium or large company or business that is looking for credit control or credit management services or products to help you with your Credit Control or Credit Management processes and procedures as well as you cash collection and credit assessment then this is the right place for you.

Here at Creditserve Business Information Ltd we provide a number of business and credit control / credit management products and services to assist your business with your credit risk assessment and cash collection.  

These products & services are:

Online Business or Company Credit Information:

Instant online Business & Company credit report information or Credit Checks on all UK & Irish Public Ltd & Private Limited Companies, along with two million Non Ltd businesses (Partnerships & Sole Traders).

Instant Offline International Business & Company Credit reporting information / credit searches on European & USA Businesses.

Fresh Investigation International Business & Company Credit reporting information / credit searches on European, American, South American, North American, African, Middle Eastern, Far Eastern, Australian & New Zealand Company's and Businesses.

Our Business & Company Reports are "Know Your Customers" or KYC compliant. 

In-Depth Fresh Investigation International or UK Credit Reports including Credit Information on Directors for UK companies:

Bespoke fresh investigation reports on those International or UK customers (Companies, Businesses & Directors) where you require more information or specific questions answered.

No Win, No Fee Company or Business Debt Recovery Services:

Fast, efficient business or company debt collection or recovery services - all work undertaken on a no collection, no commission basis.

Credit Control or Credit Management Packages:

All of the above products or services can be combined to provide customers with the ultimate credit control package or credit management tool for your credit manager, credit controllers or cash collection teams.

Consumer or Sole Trader Proprietor or Director's Personal Credit Reports:

If you are looking into an individual's creditworthiness, whether it be on a Director or Directors behind a new limited company, a proprietor or proprietors behind a sole tradership or partnership or a straight forward consumer customer, our consumer reports can provide you with the information you need to make an informed decision.

Consumer or Anti Money Laundering (AML) Compliance Checks or ID reports online:

Through our electronic Anti Money Laundering (AML) system this service provides real time personal screening, which will help you quickly and easily confirm that a prospective client is who they say they are. The system we offer is AML compliant and can be used for any companies "Know Your Customer" or "Anti Money Laundering" compliance.

If you would like a free demonstration of one of our company or business reports or some more info about our debt recovery services please gives us a call or email: sales@creditserve.co.uk (or complete the request a contact/demo form: For a Free Demonstration on a Company or Business Credit Report please visit our website http://www.creditserve.co.uk or call us on 01992 414222.