Accounts Receivable and Credit Policy in Receivable Management Course
Accounting, Finance and Budgeting Training
Select Other "city & date"
Accounts Receivable and Credit Policy in Receivable Management Course
Course Overview:
In the Receivable Management course module titled Accounts Receivable and Credit Policy, the emphasis is on building efficient credit policies and collection policies.
Students will gain skills necessary to assess and review the accounts receivable process, set up credit ceilings, and apply billing best practices for improved cash flows.
Other areas addressed include the position of sales in the credit and collection process, engagement in conflict resolution, and strategies for bad debt recovery. Noteworthy, some indicators of AR monitoring are also introduced, for example, AR turnover and the collection effectiveness index (CEI). Best suited for these courses are AR managers, credit managers, and sales staff; the focus is on designing real strategies for the management of receivables and enhancing the financial results of the company.
Course Objectives:
At the end of this Accounts Receivable and Credit Policy in Receivable Management Course, participants will be able to:
- Develop effective credit policies that meet a company’s objectives
- Use billing best practices techniques
- Employ effective collection policies
- Partner with the sales force for the benefit of the company
- Evaluate the accounts receivable process and implement best practices
- Apply tools and techniques to effectively monitor AR performance
Who Should Attend?
This Accounts Receivable and Credit Policy in Receivable Management Course ideal for:
- Accounts Receivable (AR) department managers,
- Credit managers,
- AR staff, AR and revenue accountants,
- Credit officers, billing and collection clerks,
- AR specialists, and professionals in accounting, finance, operations
- Sales who interact with Accounts Receivable and Credit Department.
Course Outlines:
- Credit Policies Management
- Credit Department Responsibility
- Factors Affecting Credit Policies
- The Need for Accounts Receivable
- The Level of Accounts Receivable Companies Should Have
- The five Cs of credit
- Credit Department Objectives
- Roles and Responsibilities
- Procedures
- Measuring Results
- Review New Accounts
- Re-Evaluate Existing Accounts
- Financial Statements: What to Look for
- Analyzing Selected Financial Ratios
- Setting the Credit Limit
- Establishing a Profitable Relationship with the Customer
- Meeting the Needs of the Customer
- The Billing Process
- Efficient Billing Process Means Faster Collection
- Preventing the Fatal Mistake: Sending the Bill with Errors
- The Use of Technology
- Impact of Up Front Operations on Billing
- You Made the Sale, It’s Time to Collect Your Money
- Cash: It’s Worth your Efforts
- Tips, Techniques and Guidelines for Faster Collection
- Importance of Setting a Collection Policy
- Using Different Approaches in Collection
- Strategies in Dispute Management
- Best Practices in Collection
- The Relationship Between Sales and Credit
- Breaking the Ice
- Maintaining Credit-Sales Relationship
- Role of Sales in Issuing Credit and in Collection
- Accounts Receivable Process Analysis
- Improving the Quality of Accounts Receivable
- Aging of Accounts Receivable and Bad Debts Reserves
- Alternatives in Computing Bad Debt
- Reducing Bad Debt Write-Offs
- Calculating Accounts Receivable Turnover
- Collection Effectiveness Index (CEI)
- analyzing the Operating and Cash Cycles
- Managing AR through Portfolio Strategy
- Outsourcing of Accounts Receivable Functions
