A Credit Controller is responsible for the timely collection of monies owed to a business or organisation and recording these payments on relevant ledgers. The Credit Controller manages the amount of credit afforded to clients and ensures that clients adhere to agreed payment terms.
Credit Controllers are responsible for designing, implementing and maintaining effective credit control systems and processes to enable a company or organisation to efficiently collect its debts.
Credit Controllers may be responsible for managing teams tasked with ensuring sales invoices are paid on time and for collecting aged debt. In smaller companies, Credit Controllers work alone and may also carry out other accounting tasks.
Typical duties:
Collecting outstanding debts.
Chasing aged debtors.
Resolving payment disputes and liaising with customers.
Recording payments and reconciling bank accounts.
Managing collection teams where appropriate.
Maintaining collection systems and processes.
Qualifications
Qualifications are not always necessary to work in credit control, although senior credit controllers may be part or fully qualified accountants. The Institute of Credit Management also provides training and qualifications for those wishing to specialise.
Salary Snapshot
Recent salaries advertised on TopFinancialJobs (November 2009) include:
£11-15 per hour for a part qualified accountant working as a temporary Credit Controller for a multinational publishing company in London.
£30,000 per annum for a part qualified Legal Senior Credit Controller working for one of London's most successful law firms.
£22-26,000 per annum for a Credit Controller working for a company working in the media industry in central London.
£25-28,000 per annum for a part qualified Italian speaking Credit Controller working for a large national retail chain in the West End of London.
Are you a Credit Controller? Would you like to contribute to our "Day in the Life of..." series? Email us at info@topfinancialjobs.co.uk for more details.
