How do you control debtors successfully?

Several small businesses are not handling their debtors successfully and professionally. A number of them don't even recognize it because they are doing what they have always done. It is not remarkable, but it gets the work done most of the time, well, at least until there are changes, such as a person departing, COVID, or a period of fast progress.

We have acquired how to make debtor management stress-free, well-organized, and highly successful for any small business. However, before showing you how to let us look at small businesses' common problems when managing debtors.

Is your process generating late payments?

Do you have a transparent debtor management process that is stress-free to track each month? Does it check your actions at every stage, from transmitting statements to generating calls to relocating customers to stopping their credits and debts collections?

Each step must be made in advance, then codified into your debtor management software, so it's easy to follow.

If you are unsure what a good process looks like,

You will know you have got your process correct when you do debtor management; it feels reasonable and realistic. You are merely tracking the next predefined step in the process for each unsettled account. There is very little thinking about what needs to be done next.

Without a suitable process, debtor processing is guaranteed to be more disturbing than it should be, resulting in:-

 More significant results for fatigue,

 Higher task-replacing costs,

 And additional meetings to make conclusions.

These unnecessary holdups in your procedures are why your customers are paying you slower than they could be; you are giving them extra time than needed!

Do you have sufficient time to manage debtors effectively?

How about your time? Are you dedicating too much time to controlling debtors' management efficiently? Or may be you are not giving enough time because other important priorities keep getting in the way.

Do you enjoy chasing unsettled debtors' accounts?

This is a significant question, but it is usually faced with pitiful conclusions – because who in this world of debits and credits loved doing this type of job? Only an exceptionally few.

We have been talking to 'debtor management haters' all the time. To sum it all up, people dislike doing debtor management for five main reasons:

1. They dislike it because they are expected to do the job as an 'additional task' on top of their regular work. This is not their skill, or they don't have time.

2. They dislike it because they lack time to do a good enough job of it. You cannot move the needle with debtors if you cannot spend sufficient time.

3. They dislike it because they do not have the means to do this great job within their regular working hours.

4. They dislike it because they are not given, and they have to make up their processes using the incorrect methods for the job, like spreadsheets.

5. They dislike it because it is incorrect that. "Customers must just pay on time" is a sentiment we hear frequently.

If you dislike debtor management, there is light at the end of the tunnel.

There are numerous ways to make the job stress-free, quicker, and more efficient.

Here are some ways for newbies: -

  • Scrap your spreadsheet and manual emails. Instead, switch over by replacing specialist debtor management software.
  • Attain good coaching that will show you how to achieve debtors professionally that will give you more confidence.
  • Outsource it or hire one in New Zealand who is an Account Receivable Specialists to do the job on your behalf.

Deciding to connect with Business Pillars, you will be well-established and be familiar with Business Pillars' path that has helped clients like you. So, as you begin to live with these fantastic ideas, you'll only truly enjoy them as you start to live your dream.

Contact us

We'll get back to you ASAP.


You can create any structure you want by using the same tools as in the regular workflow. Add buttons and forms or anything else you'd want.

Being experienced with an accounting background, we can offer a wide range of reliable and accurate bookkeeping services. A common question often asked is, "What exactly does a bookkeeper do? "The answer to this question is shown below for our services as specialist bookkeepers. We can,of course, modify our services to suit the needs of your business whether you need a few of these services or all.

·      Accounts Receivable*-Invoice preparation and follow-up with the client

·      Accounts Payable* - Suppliers' invoices are processed and paid when due.

·    Bank Reconciliations -Reconciling Bank and Credit Card accounts with daily bank feeds

·     GST Filing                        - Timely filing of Bi-Monthly or Six-Monthly returns

·     System Training               - Training is required whenever you choose new software. We provide free training.

·    Accounting Software conversions – With our expertise, we can switch your accounting information to XERO/MYOB

·        Payroll

·        Unlimited Email Support

*Note:- Accounts Receivable and Accounts Payable are closely monitored to ensure that your business has no issues with cashflow

Payroll Management

Business Pillars offers all-inclusive payroll services that help your business run efficiently. We are committed to being legally compliant. Our services are built to simplify payroll processes for small to medium-sized businesses throughout New Zealand.

PAYROLL processing made easy

We provide the most updated payroll solutions tailored-made that is affordable to your requirement. We are committed to taking care of all the work demanded, allowing you to focus your time and energy on more essential things you love to do.

Our payroll services are:

·        Employees pay, On-time payments including benefits, reimbursements, deductions, Weekly/Fortnightly/Monthly

·        Employee PAYE

·        Payday Filing   – Timely filing returns to IRD

·        Leave entitlements– Accruals for each type of leave

·        Leave Payment - As per Holiday Act 2003

·        KiwiSaver contributions

·        Maintaining payroll records – payments and documentation

GST Filing

Timely Processing

We ensure that we file all GST Tax returns two weeks before the due date. We keep our clients informed before we proceed. This ensures that the client is at ease.

·        GST Filing        - Timely filing of Bi-Monthly or Six-Monthly returns

Monthly / Quarterly Advisory

The clients are in a position to process their reports from the software chosen. Based on the service requested, additional reports are also given that are not available in their chosen software. These reports enable the client to make corrective business decisions. Business Pillars reaches out to clients who require more assistance.

Monthly Management Meetings

The primary purpose of a monthly management meeting is to get the business to grow. This is either done through a phone call, zoom, or meeting in person.

Cash flow Management

Managing cashflow is a significant responsibility faced by most small businesses. We reach out to businesses making it stress-free to ride on the highs and lows of the cash flow throughout the year.

We assist in producing a cashflow statement which is a financial statement that summarizes the amount of cash entering and leaving the business. The cashflow statement measures how well the business can manage its cash position, meaning how well the business can generate cash to pay its debt commitments and fund the day-to-day operating expenses.

Budget Forecasting

Small business budgeting and forecasting

We need to get some relevant numbers to know what the future will look like regarding a business. Budgeting and forecasting will help to support this vision. Business Pillars can work alongside you to understand these basics so you can build a financially sustainable business.

What is a budget?

The budget estimates how much money will come in and go out from your business over time (usually a year). Budgeting and forecasting normally benefit all businesses and first-time startups to see if they can afford to run the business and compensate for all their hard work with a good return for their initiative.

What are the main principles of having a budget

Budgets forecast the money-making possibility of a business. It will also highlight things like:

  • How much will it cost to startup?
  • How much money is needed to borrow?
  • When will be the breakeven point?
  • How much should the customers be charged?
  • How many staff are needed?

Monthly / Quarterly Advisory

The clients are in a position to process their reports from the software chosen. Based on the service requested, additional reports are also given that are not available in their chosen software. These reports enable the client to make corrective business decisions. Business Pillars reaches out to clients who require more assistance.

Job Management

Job Management is software that supports project managers and teams to complete client requests and projects efficiently. Most professionals depend upon this job tracking software which assists them in supervising multiple sections of a business. Business Pillars are here to assist in setting up this service to track income and expenses related to service jobs.

XERO and MYOB both have the capability for Job Tracking

These are the advantages:-

·        Create quotes immediately

·        Easily track jobs from quote to invoice

·        Schedule the jobs on the go

·        Get paid quicker