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Workshop Managing Accounts Receivables
Workshop Description
Accounts receivable management is all about ensuring that customers pay their invoices. Good receivables management helps prevent overdue payment or non-payment. It is therefore an effective way to strengthen the company’s financial or liquidity position.
A substantial share of a company’s working capital is tied up in Accounts Receivable (AR) and this poses a liquidity risk. In this workshop 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.
Target Group
Those who manage Accounts Receivable (AR):
- Credit managers
- AR staff
- AR and revenue accountants
- Credit officers
- Billing and collection clerks
- AR specialists
Course Objectives
- Define the function of Accounts Receivable (AR)
- Understand the importance of good AR management
- Maintain an effective collection policy
- Evaluate the Accounts Receivable process and implement best practices
- Apply tools and techniques to effectively monitor AR performance
Topics handled in this course:
- Improving Performance, Accuracy and Efficiency in your processes
- Understanding the need for credit sales
- Understanding the need for a credit policy
- Gathering credit information
- Understanding financial statements
- Applying basic financial analysis of financial statements
- Monitoring accounts receivables
- Knowing the reasons for slow collections
- Pre-empting excuses for not paying promptly
- Seeing tell-tale signs of potential bad debts
- Using collection techniques
- Case Study & Practical Exercises