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Managing and Organizing Account Receivables and Account Payables

By: Avant Garde Resources Centre

Lagos State, Nigeria

21 - 23 Aug, 2024  3 days

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NGN 165,000

Venue: 13, John Olugbo Street, Off Mojidi Street, Off Toyin Street, Ikeja - Lagos.

A sizeable share of a company’s working capital is tied up in accounts payable and accounts receivable which poses a high liquidity risk. To truly and effectively manage accounts payable and receivable, one must understand the department’s building blocks including but not limited to customer service, vendor management, credit management, cheque requests and Purchase Orders (POs). By the end of the workshop, participants will be able to:

  • Develop effective Credit Policies that meet Company’s Objectives
  • Use accounting principles related to Accounts Payable and Account Receivable
  • Identify the functions of Accounts Payable and Accounts Receivable and their roles in organizations
  • Employ Effective Collection Policies


Accounting Essentials for Accounts Payable and Receivable

  • Accounts Terminologies
  • General Ledger and Sub-Ledger
  • Preparing for Month-End Close and Accruals

Credit Policies Management

  • Credit Department Responsibility
  • Factors affecting Credit Policies
  • The Five Cs of Credit
  • Non-Financial Factors affecting Credit Decision
  • Re-evaluate Existing Accounts
  • Setting the Credit Limit
  • Meeting the Needs of the Customer

The Billing Process

  • Efficient Billing Process means Faster Collection
  • Preventing the Fatal Mistake
  • The use of Technology
  • Impact of Up-Front Operations on Billing
  • Best Practices in Billing

Accounts Payable Process and Best Practices

  • Invoice Handling and Routing
  • Methods of Payment Processing
  • Maintaining the Vendor Master File
  • Pros and Cons of Early or Late payments
  • Electronic Payment Options
  • Evaluating Early Payment Discount
  • Travel and Entertainment
  • Procurement Cards

Debt Collection Strategies

  • 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

For Whom: Credit Managers, AR and AP Staff, Billing and Collection Clerks, Accountants, Auditors, Managers of both Accounts Payable and Accounts Receivable Departments and others who perform related functions.

13, John Olugbo Street, Off Mojidi Street, Off Toyin Street, Ikeja - Lagos. Aug 21 - 23 Aug, 2024

Registration: 10:00:am - 05:00:am

NGN 165,000.00(The workshop fee will cover Bag, Flash Drive, Workshop Materials, Jotter, Pen, Lunch, Tea/Coffee Breaks, Photograph, and Certificate.)
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Tade 08034684305

Special Discount: Training 6 people and pay for 5 People for the same course and same date while 2 - 4 participants attracts 5% discount.
A distinguished team of facilitators who are eminently qualified professionals has been assembled to lead discussions in course of the workshop.
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