Issue 0050 SME Operators – Accountants can Help you with Debtors’ Management
Do you know that, in survey after survey over the last 15 years, you and your peers have identified that small/medium enterprises want to receive additional commercial services?
One of the services that would benefit most small/medium enterprises is assistance with debtors’ management.
Accountants/advisors who are offering business advisory services, other than taxation, can assist you to manage your debtors.
At ESS Small Business, we provide a debtors’ management service that many accountants/advisors use, to provide specialised advice to small/medium enterprises. These services will help you:
- Identify ways to welcome your new customers but ensure that, first of all, you’ve undertaken appropriate due diligence reviews on your potential new customer.
- Identify ways to reduce debtors’ days outstanding – an area where a lot of money can be tied up in your business.
- Improve debtors collections.
- Provide a debtors’ reduction checklist to help with the identification of particular debtors that needed to be approached for above normal payments to be made by them.
- Identify one of the key business risk areas for small/medium enterprises, which is the PPSR and how it operates. The PPSR does affect debtors and you can receive liquidators preferential payment claim letters. A way of significantly reducing this is to implement an appropriate PPSR strategy in your debtors’ system.
- Have a written debtors’ system for your business.
In fact, the SME Debtors’ System Manual, developed by ESS Small Business, gives you a customisable manual that will suit your business requirements, to assist a person who has the difficult job of managing debtors within any small/medium enterprise. The manual will also help to keep debtors’ days outstanding to a reasonable figure, which will benefit your cashflow.
Accountants/Advisers Can Help
If you would like to talk to an accountant/advisor who is committed to assisting small/medium enterprises, like yourself, in business advisory services, other than taxation, ESS Small Business has a directory of accountants/advisers who are interested in supplying a wider range of services, commonly known as “business advisory services”, to small/medium enterprises. This directory is called “Find an Accountant/Adviser”.
Visit www.esssmallbusiness.com.au and click on “Find an Accountant/Adviser” menu tab. All you need to do is to type in your postcode and the system will then show you accountants/advisers in or near your postcode who offer a wider range of commercial services to small/medium enterprises.
ESS Small Business also includes a number of free articles and articles for sale, including articles on debtors’ management.
We will be presenting a webinar on debtors’ management on Tuesday 12th July 2016 at 2pm AEST. Click here to register to attend this webinar, free of charge.
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Episode 0050 SME Operators – Accountants can Help you with Debtors’ Management
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