Pre year-end sales ledger audit
Ensuring your sales ledger is in order when completing your year-end accounts is essential. Hilton-Baird offers a specialist pre year-end sales ledger audit service to review any outstanding debts and implement a collections strategy to clean up your ledger.
With many businesses’ balance sheets hit by the recession, funders are taking an even closer look at year-end accounts when making decisions over the provision of funding and credit insurance to combat bad debt – especially the sales ledger performance.
Should this figure indicate signs of distress in either the business or the sector it operates in, attaining such cash flow funding could be difficult – particularly whilst commercial debt collection is more challenging than ever.
Hilton-Baird Collection Services therefore offers a pre year-end sales ledger audit service that targets your business’ overdue debts before introducing a collections strategy that cleans up your ledger, ultimately providing your business with a solid foundation from which to begin the next year.
By understanding your company and its debtors, we can act quickly to reduce your business’ outstanding debtor balance and, most importantly, recover the monies owed to improve cash flow.
We adopt a highly proactive approach to commercial debt recovery by getting in contact with your debtors, understanding their circumstances and liaising with them to ensure you get back what you’re owed in a timely fashion.
In the event we deem a debt to be uncollectable – perhaps due to a dispute - we can additionally help you to claim Bad Debt Relief.
This allows you to reclaim the VAT paid to HM Revenue & Customs for the sale by writing off bad debts of more than six months. Should you subsequently get paid – whether it’s a full or partial payment – you simply repay the VAT in proportion to what you receive.
Our success-based pricing structure ensures our commitment and dedication to providing a quality sales ledger audit service, whilst we can additionally provide a free business health check, focusing on your receivables, to highlight which areas we feel could be improved. We can then work with you to address these areas, whether this is through an ongoing credit control facility, one-off commercial debt recovery or perhaps by introducing you to a tailored funding solution through our sister company, Hilton-Baird Financial Solutions.
Hilton-Baird Collection Services is the UK’s leading commercial debt collection agency, having provided award-winning outsourced collections services to SMEs and lenders since 2001.
To find out more about our pre year-end audit service, please call 0800 9774848 or email collections@hiltonbaird.co.uk today.