Struggling with irregular cashflow can distract you from growing your business and leave you scrambling for working capital. In most cases, the root cause is a lack of rigorous credit control and an ad hoc approach to chasing overdue invoices. Follow this detailed 30-day action plan to transform your receivables process, recover hidden cash, and build a sustainable system going forward.
Days 1–7: Audit, Prioritise and Plan
- Pull a comprehensive aged receivables report from your accounting software.
- Categorise overdue invoices into 30-, 60-, and 90-day buckets, then sort by value.
- Identify your top 10 largest outstanding balances—focus your early efforts here.
- Gather customer details: payment terms, key contacts, prior communication notes.
- Map out your ideal credit-control workflow, defining reminder intervals and escalation steps.
Why it matters: Without a clear picture of what’s owed—and by whom—you’re shooting in the dark. This audit sets the foundation for every follow-up conversation.
Days 8–14: Re-engage Your Customers
- Send a friendly, branded email reminder for every invoice over 30 days past due.
- Personally call your top five delinquent accounts, tone them as “quick checks” rather than aggressive demands.
- Offer to resend missing invoices, provide alternative payment links, or split large sums into instalments.
- Record every touchpoint—email, call, voicemail, in a shared tracker to keep colleagues aligned.
- Adjust your messaging based on customer history: seasoned clients may just need a nudge; new accounts might require additional reassurance.
Why it matters: A human voice cuts through inbox clutter. Early, personal engagement often leads to same-day payments.
Days 15–21: Escalate Strategically
- Issue formal reminder letters on company letterhead for invoices 60+ days overdue.
- Reiterate your payment terms, including any late-payment fees or interest charges (even if you later waive them).
- Propose structured payment plans to customers under genuine financial stress, setting clear instalment dates.
- Temporarily adjust credit limits or move repeat late-payers onto prepayment or deposit models.
- Prepare a shortlist of invoices for potential handoff to a collection agency if there’s no response by day 30.
Why it matters: Clear escalation demonstrates you take credit control seriously, protecting cashflow without burning bridges.
Days 22–30: Review, Refine and Automate
- Tally up payments received against your initial aged report and measure your recovery rate.
- Follow up on any agreed payment plans—confirm instalments and update your tracker.
- Identify bottlenecks in your process: Are reminder intervals too far apart? Do you need more phone calls?
- Automate routine reminders using Xero, QuickBooks, Sage, or a dedicated credit-control tool.
- Schedule a monthly credit-control review on your calendar to repeat this cycle every 30 days.
Why it matters: Automation and regular reviews turn this 30-day sprint into a continuous, low-effort process, keeping cashflow healthy with minimal firefighting.
Beyond Day 30: Building Long-Term Resilience
- Integrate your credit-control data with rolling cashflow forecasts to spot funding gaps early.
- Use tools such as CreditSafe or Debtor Watch to monitor major clients’ credit profiles and adjust limits proactively.
- Explore credit insurance to safeguard against large client defaults.
- Train your team with half-day workshops on your chosen accounting tools and credit-control best practices.
Real-World Impact
One local business came to us saddled with an antiquated spreadsheet process. Multiple invoices had slipped through the cracks for months. By applying this 30-day framework, we uncovered and recovered nearly £30,000 they didn’t even realise was owed. That extra cash funded their next growth initiative, and spared them a credit crunch.
Why Partner with Us?
As your Sussex-based bookkeeping and back-office partner, we don’t just record transactions, we own your credit control. Our service includes:
- Automated aged-receivables monitoring and tailored escalation workflows
- Personalised follow-up calls and customer-friendly payment-plan negotiations
- Integration with Xero, QuickBooks, and Sage for seamless reminders
- Debtor Watch and CreditSafe subscriptions for real-time risk insights
- Credit insurance broking to protect your biggest exposures
Let us turn your 30-day sprint into a self-sustaining engine that keeps cash flowing and frees you to focus on growth. Ready to reclaim your time, and your money? Let’s talk.