The Debt Book Every Catering Business Owner in Benin City Should Be Keeping in 2026
Overview & Key Takeaways
This article shows catering business owners in Benin City how to manage credit sales and track customer debts effectively using simple methods, even when busy. Learn how to record debts instantly, see who owes you what, and get paid faster without chasing customers yourself.
- Record every credit sale the moment it happens, no matter how small.
- Know exactly who owes you money and how much, all in one place.
- Track how long a debt has been outstanding to know when to follow up.
- Get automatic polite reminders sent to customers who owe you.
- Make it easy for customers to pay you directly from the reminders.
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Sources
- Federal Inland Revenue Service, FIRS, tax regulations, compliance guides, and filing requirements
- Corporate Affairs Commission, CAC, business registration, compliance, and corporate governance
- Small and Medium Enterprises Development Agency, SMEDAN, SME support programs, grants, and business development resources
- Central Bank of Nigeria, Monetary Policy, CBN monetary policy rates, banking regulations, and financial stability reports
- Central Bank of Nigeria, Financial Stability, CBN financial stability reports and banking sector data
Frequently Asked Questions
Why do I need a debt book for my catering business?
A debt book helps you track every sale made on credit, so you know exactly who owes you money and how much. This prevents losses, improves cash flow, and ensures you get paid for the work you do.
What information should I record for each debt?
You should record the customer's name, the date the debt was incurred, the total amount owed, and the agreed repayment date. If it's a partial payment, note how much was paid and the remaining balance.
How can I make debt tracking easier if I'm always busy?
Using a tool like TrustAm's WhatsApp Business Assistant means your debt records are created automatically when you record a credit sale. It also sends automatic reminders, saving you time and effort.
What if a customer makes a part-payment?
A good system will allow you to record part-payments. This updates the total amount owed and the age of the debt, ensuring your records are always accurate.
How can I avoid giving credit to the wrong people?
While not foolproof, keeping good records of past payments and using a system that flags overdue debts can help you identify customers who consistently delay payments. It's also wise to have a clear credit policy for your business.
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Disclosure: This article is published by TrustAm. Some links may direct to our own marketplace and products.
Sources & References
- Federal Inland Revenue Service— firs.gov.ng
- Corporate Affairs Commission— cac.gov.ng
- Small and Medium Enterprises Development Agency— smedan.gov.ng
- Central Bank of Nigeria, Monetary Policy— cbn.gov.ng
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