Credit Controller

What is a credit controller?

An organisation’s cashflow health depends on the skill of their credit controller. They ensure that revenue and credit owed to the company is paid in a timely and accurate manner.Credit control jobs involve assessing and managing the business’ credit risk by ensuring that new customers are thoroughly vetted and that the company month-end accounts are reconciled. If payment problems arise, they will step in to find a resolution and to highlight any potential debtor issues which may arise in future.

Credit controller job description and responsibilities

A credit controller’s primary function is to collect and reconcile credit notes and invoices owed to the company. They manage customer accounts, ensuring that new customers have healthy credit and that existing customers have settled monthly accounts in a timely manner.Credit controllers are heavily involved in customer interaction, so need excellent communication skills, good levels of diplomacy and the ability to inspire customer loyalty and satisfaction. They work within a wider finance and accounting team, and usually report to the credit control supervisor, credit control manager or the credit manager.Credit controller duties and responsibilities include:Creating and upholding payment procedures and policies that ensure timely paymentResponding to client queriesKeeping customer retention levels highReconciling accountsProviding administrative support to finance teamKeeping close watch on debtor account balancesReducing debtors’ ‘Days Sales Outstanding’Ensuring the team adhere to credit and collection proceduresCustomer relations

Credit controller qualifications, skills and experience

When hiring for a credit controller role, the majority of employers will be looking for professionals with 2 – 3 years’ experience in credit control. Experience in professional services or a software environment is beneficial, as are qualifications like ACA.

Credit controller skills in demand

The strongest candidates will have excellent customer services skills. Although it isn’t essential for credit controllers to have a degree, they should also possess some of the following qualities:Experience with ERP systemsExcellent interpersonal skillsTenacityExcellent communication skillsGood negotiation skillsAble to clearly explain financial mattersBusiness acumenHigh attention to detailProblem solving skillsThe ability to prioritise a heavy workloadGood analytical skills

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3M
Accounting Software Systems
CRM
Cash Activity
Collection Processes
Credit
Credit Limit
Credit Notes
Customer Service
Debt Financing
Salary for Credit Controller
26250 - 31500
25th Percentile
26250
Little or no prior experience in the position; still developing relevant skills. Demand: Low
50th Percentile
29000
Some prior experience in the position; has several relevant skills. Demand: Moderate
75th Percentile
31500
Extensive prior experience in the position; has mastered relevant skills. Demand: High
Projected salaries for related positions Position title 25th Percentile 50th Percentile 75th Percentile Part-Qualified Management / Financial Accountant 39500 41000 44000 Assistant Management / Financial Accountant 28750 32750 35750 Junior Financial Analyst 31500 35000 37000 Accounts Assistant 25500 27500 29750 Purchase Ledger Manager 40000 43750 47500 Purchase Ledger Clerk 25000 28500 31500 Sales Ledger / Billings Manager 39500 43000 46000 Sales Ledger / Billings Clerk 26250 28750 39500 Credit Control Manager 41000 44000 47000 Payroll Manager / Supervisor 41000 46500 51000 Payroll Administrator / Clerk 28000 30000 33000

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