Credit control is a crucial part of managing a business’s cash flow and minimizing the risk of bad debt or default in UK. To effectively manage credit, businesses must comply with UK law and regulations governing credit checks and credit reporting.

Reckon provides UK businesses with various credit control tools and features to help manage credit effectively. One of the main features is the ability to set credit limits for customers, which helps to control the amount of credit extended to each customer and reduces the risk of overexposure to any customer.

Also, we offer tools for monitoring and managing outstanding invoices, including automated reminders and escalation procedures for overdue invoices. These features help our clients to stay on top of their accounts receivable and increase the likelihood of timely payment.

In addition, we provide detailed reporting on accounts receivable, which help our clients to identify trends and potential problem areas before they become significant issues. Furthermore, this reporting aid in keeping compliance with UK credit reporting regulations.

To comply with UK law, businesses must conduct credit checks on potential customers before extending credit. Reckon offers integration with credit check providers to simplify this process for businesses. This integration allows businesses to quickly and easily check the creditworthiness of potential customers and make informed decisions about extending credit.

Overall, Reckon’s credit control features are designed to assist UK businesses in managing their cash flow and reducing the risk of bad debt or default while complying with UK law and regulations governing credit checks and credit reporting.