Accounts Receivable Management and Development of Credit Policies

Introduction

Accounts Receivable is where all the sales you make turn into actual funds and cash in the business. As such, it is a very important part of any company, and a solid understanding of the accounts receivable function is very important. Increase your accounts receivable turnover, collect funds quicker, and implement the best practices in the industry.

In this course, we will learn the basics of accounts receivable, the accounts receivable cycle the best practices that should be used, fraud prevention, collection methods, and long-term relationship

Training Schedule

Course Objectives

• Define the function of Accounts Receivable (AR) and its role in organizations.
• Run the Accounts Receivable process more efficiently.
• Apply tools and techniques to effectively monitor AR performance.
• Develop effective credit policies that meet the company’s objectives.

The Content:

Day One: Credit Policies Management

• Setting Credit Policies
• Approving the Credit
• Developing Credit Controls
• The Need for Accounts Receivable
• The Level of Accounts Receivable Companies Should Have

Day Two: The Billing Process

• Efficient Billing Process Means Faster Collection
• Preventing the Fatal Mistake: Sending the Bill with Errors
• The Use of Technology

Day Three: Collection of Money

• Cash: It’s Worth Your Efforts
• Techniques for Faster Collection
• Payment Processing Options
• Letter of Credit (LC)
• Cash against documents
•  Cheque

Day Four: The Relationship with Customers

• Developing Good Working Relationships Between the Two Departments
• Involving Sales in the Collection Effort
• Payment status information to a vendor
•  Communication with internal customers

Day Five: Accounts Receivable Process Analysis

• Best Practices in Accounts Receivable (AR)
• AR Process Improvement
• 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)
• Collection Effectiveness Index (CEI)
• Analyzing the Operating and Cash Cycle

Training Approach

This course will be delivered by our skilled trainers with vast knowledge and experience as expert professionals. The course is taught in English and through a mix of theory, practical activities, group discussion, and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organizational requirements. For further inquiries, don’t hesitate to get in touch with us on Email: info@advantaedgedev.com Tel: +254 713 072 883

Training Venue

The training will be held at our Advantaedge Training Centre. We also offer training for a group at requested locations all over the world. The course fee covers the course tuition, training materials, two break refreshments, and a buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with an Advantaedge certificate upon completion of this course.

Airport Pickup & Accommodation

Airport pickup and accommodation are arranged upon request. For booking contact our Training Coordinator through Email: info@advantaedgedev.com Tel: +254 713 072 883

Terms of Payment

Unless otherwise agreed between the two parties payment of the course fee should be done 3 working days before commencement of the training to enable us to prepare better