I complete bookkeeping for 2 lorry transport companies.
1 is very straight forward with a good cashflow. The other, not so. It deals with mainly Polish transport companies. We receive all invoices via email and sales invoices are all sent via email with pdf's of related paperwork attached. Many of the polish companies insist of 'original paperwork' and take days of credit from postal receipt of original. Because lorry drivers spend many days, maybe weeks away from the office, there is usually a delay in receiving the paper copies. This means credit control is reliant upon when they receive the paperwork, so if it takes 30 days for them to receive the p/w, they then add this to their credit terms, so can be 70-80 days credit. We in turn have to wait to process purchase invoices, until this p/w is delivered. Therefore it all needs to be micro managed which is time consuming and costly and awful for cashflow. Does anyone else have any experience similar and any solutions?