Accounts Receivable - Planning, Organising and Achieving Best Practice Training Course
5 DaysAccounts Receivable - Planning, Organising and Achieving Best Practice Training Course
The British Academy for Training and Development offers the Accounts Receivable - Planning, Organising and Achieving Best Practice Training course. This training programme is important in areas like planning and organisation of the receivable function, enabling efficiency and cash flow optimal management. As stated above, the entire programme contains the learning about the cycle of credit management-involving credit with policies, invoicing, and collections. The course also investigates how to achieve best practice in accounts receivable in terms of reduced days sales outstanding (DSO) and improved cash application processes. This training also talks about how important is the effective communication through which company-customer relationship management and overall cash conversion cycle improvements can happen. At the end, you will literally know how to make reconciliation easier, cash forecasting, and application of e-payments that will make everything really smooth for operations. This course is suitable for all those professionals who want to reform the best possible practices in accounts receivable management to affect the whole performance of finance in the organisation. The management of the accounts receivables (debtors) of an organisation is essentially just one aspect of the management of the cash flow of that organisation. Since organisations cannot survive without adequate cash flows, it follows that the management of accounts receivable is a vital aspect of cash flow management.
Overview
Course Objectives
Objective:
The objective of accounts receivable course are:
Offer attendees to plan, organise, and optimise the account receivable function. Understand and engage best practices in respect of credit management, invoicing, collections, and cash flow management. Improve cash conversion cycles by minimising day sales outstanding (DSO) and through enhanced cash application processes. Improve customer relationship management and dispute management through effective customer communication. Leverage the power of e-payments and technology to optimise accounts receivable operations. Understand and apply the fundamentals of Accounts Receivable systems.Review and comment on collection methods and cash management.Analyse the need to incorporate risk and uncertainty into accounts receivable analysis.Identify best practice across all industries.
Target Audience
This course is ideal for:
Accounts Receivable ManagersCredit ManagersFinance and Accounting ProfessionalsTreasury ManagersCollection SpecialistsBilling and Invoicing ClerksProfessional accounting and finance staff who interact with accounts receivable operators
Course Outline
Introduction to Accounts Receivable
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Overview of the accounts receivable function
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Importance of efficient accounts receivable management
Planning and Organising Accounts Receivable
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Establishing effective credit policies
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Setting up and managing invoicing systems
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Organising the collection process
Credit Management and Customer Assessment
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Understanding credit risk
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Evaluating customer creditworthiness
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Implementing credit limits and terms
Achieving Best Practices in Accounts Receivable
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Developing strategies to reduce days sales outstanding (DSO)
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Best practices for improving collections and cash flow
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Streamlining the invoicing and payment process
Cash Application and Reconciliation
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Methods for cash application
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Reconciliation processes and their role in accuracy
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Handling discrepancies and maintaining records
Effective Communication in Accounts Receivable
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Communication strategies with customers
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Handling disputes and overdue payments
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Improving customer relationships for better collections
Cash Flow Management and Forecasting
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Tools and techniques for cash forecasting
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Monitoring and improving cash conversion cycles
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Managing late payments and bad debts
Electronic Payments and Technology
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Adopting electronic payment systems
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Implementing automation in accounts receivable processes
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Benefits of digital solutions for accounts receivable management
Conclusion and Key Takeaways
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Review of best practices and strategies learned
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Creating an action plan for implementing improvements in accounts receivable
Schedule & Fees
No upcoming sessions at the moment. Contact us for custom scheduling.