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 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:

You Made the Sale, It's time to Collect your Money

• Cash: It's Worth your Efforts
• Techniques for Faster Collection
• Payment Processing Options

Day Four:

The Relationship Between Sales and Credit

• Developing Good Working Relationships Between the Two Departments
• Involving Sales in the Collection Effort

Day Five:

Accounts Receivable Process Analysis

• Best Practices in Accounts Receivable (AR)
• AR Process Improvement
• Improving 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