Monday, 20 October 2008

Company Credit Reporting

Reading a company credit report and understanding the scoring is vital to determine your relationship with future clients or suppliers.

Our Knol post generated many questions around the scoring and how to make sure that the correct decsion is made once a credit score has been generated on a company.

We have a number of resources to help you.

1. This web page details the methods used to determine the Risk Scores, Credit Limits, Contract Limits and explains about Auditors Qualifications. Also see Company Filing Requirements to understand what financials are used to calculate scores.

2. To understand a company's credit status, it is important to understand the type of company and why and how it is incorporated. This web page covers everything related to Limited companies, from the types of company registered, to help spotting fraudulent companies.

3. Our help pages have a vast amount of free advice and information on company accounts and credit scores.

And don't forget that if you want help from a real person please email us at support[@]ukdata.com or call us on 01372 758000 and we will answer any questions, usually within the hour.

Thursday, 2 October 2008

Annual Accounts .v. Annual Return

From our feedback survey we have noticed that some clients are buying Annual Returns expecting to see the financial information filed by the company they are investigating.

For clients from outside the UK or those unfamiliar with Company Accounts this can be confusing.

To explain the difference we have added some pages to our Help section:

Annual Accounts
http://www.ukdata.com/help/documents/annual-accounts.html

Annual Return
http://www.ukdata.com/help/documents/annual-return.html

For an overview of what is filed and why visit this page.

All limited and unlimited companies, whether or not they are trading, must keep accounting records. There are three variations on filing accounts and these impact on the amount of information available in a credit report. A full breakdown of these filing requirements is available here.