Proper management of Accounts Receivables and Payables are crucial for any organization. Control of the management of the accounts receivable function of an organization, is recognized as a key element for business success. It improves cash flow, establishes sound relations with debtors, and minimizes the risk of irrecoverable sales. Professional credit managers must be able to manage the full spectrum of assessment, administration and collections in any environment.

Learning Content

Module1. Accounts Receivables.

Day 1

An Introduction to Accounts Receivable

• Working Capital and Cash Management
• Understanding “the cost of credit”
• The ‘order to cash’ process
• Understanding “risk” in “credit”
• Accounts Receivable and effective customer service

Credit Policy Development

• Establishing Credit Policies
• Setting credit limits
• Defining credit terms
• Credit approval process
• Credit Risk Assessment
• Analyzing customer creditworthiness
• Credit scoring models
• Monitoring credit risk

Day 2

Invoicing and Documentation

• Effective Invoicing Practices
• Clear and accurate invoices
• Timely issuance
• Invoice tracking systems
• Documentation Best Practices
• Contracts and agreements
• Purchase orders
• Legal documentation for collections

Receivables Monitoring and Reporting

• Monitoring Outstanding Receivables
• Aging schedules
• Receivables turnover ratio
• Identifying overdue account
• Receivables Monitoring and Reporting

 Financial Reporting

• Generating receivables report
• Analyzing financial statements

Day 3

Customers and Trading Terms

• Terms of trading
• Tools and techniques of financial analysis: 
• The best performance measures
• Financial distress and the Altman’s Z score-type analyses
• Trend analysis
• Value added analysis of financial statement

Developing Effective Strategies to Maximize Cash Collection

• Identifying effective “pre-delinquency” collection campaigns
• Defining “post-delinquency” activities
• Customer sensitive collection strategies
• Collection techniques and letter cycles

Day 4

Practical Collection Tools and Techniques

• Eliminating barriers to payment
• Recognizing excuses and delaying tactics
• Providing solutions to non-payment
• Telephone collection techniques
• Negotiation skills for successful collections
• Building relationships with customers

Day 5

Managing the Receivables Ledger

• Developing effective internal relationships to maximize performance
• Setting targets and tracking performance
• Managing information that dazzles
• Defining meaningful KPI’s
• Latest Developments in Accounts Receivable

Day 6

Technology in Receivables Management

• Automation Tools
• Introduction to receivables management software
• Benefits and features
• Implementation best practices

Data Security and Compliance

• Protecting sensitive customer information
• Compliance with data protection laws

Day 7

• Fraud Prevention and Detection
• Recognizing Common Fraud Schemes
• Invoice fraud
• Identity theft
• Red flags and warning signs
• Internal controls
• Employee training
• Regular audits

Course Booking

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