Good credit management is essential to an organisation’s healthy cash flow, and the Credit Controller is responsible for managing a book of debtor accounts to ensure timely payment of outstanding invoices. A Credit Controller job description should include conducting credit checks on new customers, resolving problems in relation to invoice payments, and reconciling complex month-end accounts. They must also report to management on outstanding issues, whilst highlighting potential debtor problems.
Credit Controller Duties:
- Oversee all day-to-day activities of accounts receivable department
- Review and analyze financial records of customers to ascertain creditworthiness
- Compile and report accounts receivable information
- Develop and implement procedures to ensure timely collection of accounts receivable
- Periodically interact with customers to resolve disputes and disputes
- Work closely with customers to reduce costs and improve payment performance
- Maintain and update customer records and files
- Identify and recruit new customers
- Develop and implement credit policies
- Maintain accurate and up-to-date financial records, including bank statements
- Execute credit and collections procedures
- Develop and maintain relationships with customers
- Organize, develop, and implement marketing strategies to attract new customers
- Make recommendations to the management team regarding credit policy
- Review and help develop annual budget
- Develop and implement strategic plans
- Generate monthly and quarterly reports
- Keep management informed of critical, current, and emerging trends and issue
Credit Controller Responsibilities:
- Develop and implement credit policies and procedures to ensure compliance with credit and lending regulations, laws, and regulations, as well as internal policies, procedures, and standards
- Review and approve credit applications; manage customer account portfolios, including collection efforts, cash application, and billing
- Prepare reports, monitor account status, and supervise collections staff
- Ensure compliance with credit reporting laws and all regulations related to credit, collections, and fraud
- Maintain credit relationships by conducting regular credit reviews, issuing credit extensions, making credit recommendations, and resolving credit disputes
- Perform gross margin and customer profitability analyses and reconcile discrepancies
- Manage account reconciliation process
- Coordinate the preparation of financial statements
- Conduct and coordinate annual financial statements and tax returns
- Attend and perform at meetings with management, customers, and vendors
- Document and maintain customer and vendor information in
