Managing debtors is important when managing the liquidity of a business.
It doesn’t only involve tracking the debtors but also putting effort in the recovery process.
If your business runs most times on credit sales or if you run a service based business, your bookkeeping system has to have an organized recovery system.
Here is how the Matsmartshop App helps with debt tracking, recovery and management.
On the Matsmartshop App dashboard, you can see customers who owe, how much they owe and for how long they owe. You can then go on to your customer information on the App and find the contact address of specific customers with debt. Note that the Matsmartshop App collects important data like phone number, E-mail address, house address and even customer anniversaries. This will enable you put calls through to debtors or send emails so you can continue your debt recovery process.
Do not forget, some of them already have the money in their bank accounts , if you don’t ask you might not get it. Your business may also come off as unorganized is you do not have a proper debt recovery system.