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Credit control is an important process that establishes controls both pre- and post-sale to ensure the timely recovery of income owed to the University. The objective is to optimise cashflow and minimise the risks of non-settlement, which become significantly greater as debts become overdue.

Collectively all outstanding invoices form your aged debt. This shows you how much money you are owed by customers, and how old the invoices are.

The following tasks need to be performed monthly:

  • review of current and overdue debts 
  • update and return the institution debt statement provided by Credit Control at the start of each month. This provides a listing of all overdue debts and their ageing. Institutions must review the listing and provide the requested information

There must be a locally administered document to record and monitor your actions which will aid monthly debt reporting and assist with prioritising collection activities.

Latest version 17 April 2024.

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