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Article Index
Credit control: A Guide for Start-ups
Checking for Credit
Your Credit Terms
Setting Credit Limits
Everyday Credit Control
Delayed Payments
Chasing Debts
Working with Big Companies

Credit control: A Guide for Start-ups

How do I deal with big companies?

When supplying to larger companies, the situation is different. Large companies are notorious late payers, and you will need to stay alert if you are to be paid on time. Make sure you:

  • Know where to send invoices. Make sure you know the name of the person or the department that deals with supplier invoices. Call the customer after submitting your first few invoices to check they have received it and it is being process.
  • Send a statement. Statements are documents that summarise all the money owed to you from previous invoices as of a specified date. Some larger companies will refuse to pay invoices without them. Send statements along with every new invoice.
  • Work out when invoices are paid. Big companies generally pay their invoices at a set date every month – make sure your invoice is submitted before then, and confirm with them you have made the payment run.