Accounts Receivable and Credit Policies Management

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Accounts Receivable and Credit Policies Management

Learn the most effective ways to manage credit, accounts receivable and debt collection within any business or organization. This practical 2-day training course will show you how to improve your organization’s processes to increase the efficiency of credit collection. You will understand the types of available customer data, why accounts become overdue, and how to detect early warning signs.

A sizable share of a company’s working capital is tied up in Accounts Receivable (AR) and this poses a high liquidity risk. In this course, we expand your knowledge and expertise in AR. This will enable you and your organization to manage your accounts receivable effectively without compromising your credit sales.
We look at how to best deal with customer excuses and manage disputed accounts correctly, and how to successfully negotiate repayment arrangements.

In this course, we’re going through all the basics. Using a ‘ground-up’ approach, we’ll be covering topics such as approving credit, the billing process, collecting money, customer service, handling deductions, legal considerations, bankruptcy, as well as many other important topics.

You might be interested in another Finance and Accounting courses as a next step.

This course is accredited by NASBA.

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  • COURSE TYPE Practitioner
  • COURSE NUMBER
  • DURATION 5 days
  • COURSE ACCREDITED BY NASBA

YOU WILL LEARN HOW TO

This course demonstrates theoretical and practical core topics in addition to introducing Excel in managing accounts receivable. The course also features role-playing and presentations by participants.

By the end of the 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 monitor AR performance effectively

IMPORTANT COURSE INFORMATION

Participants who fully attend this course and complete the test on the last day will receive a Strategic Axis Professional Certificate (SAPC). SAPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.

Professional Credits

This course is worth 25 NASBA CPEs.

COURSE OUTLINE

Modules:

Module 1: Credit Policies Management

Credit department responsibility

Factors affecting credit policies

The five Cs of credit

Non-financial factors affecting credit decision

Outline of credit policy:

Credit department mission

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

Module 2: The Billing Process

An 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

Best practices in billing

Module 3: You Made the Sale, It's time to Collect your Money

Cash: it is worth your efforts

Tips, techniques, and guidelines for faster collection

Importance of setting a collection policy

Using different collection approaches

Strategies in dispute management

Best practices in collection

Accounts receivable factoring, pledging, and assignment

Module 4: The Relationship Between Sales and Credit

Module 5: 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

Calculating Days Sales Outstanding (DSO)

Calculating Best Possible Days Sales Outstanding (BPDSO)

Collection Effectiveness Index (CEI)

Analyzing the operating and cash cycles

Managing AR through portfolio strategy

Analyzing the size, composition, and complexity of the AR portfolio

Segmenting the portfolio

Formulating an approach for specific segments

Module 6: Staying in Control

Internal controls in AR processes

AR and the monthly closing of accounts

Outsourcing of accounts receivable functions

  • In The Classroom

  • Live, Online

  • Private Team Training

  • Indiviual Private Session

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