Academy of Business Training
Academy of Business Training presents
 

Accounts Receivable On-Site Training

This on-site training class is also available as Public Schedule Seminar.

In the Accounts Receivable Training Course, you will learn industry best practices for ensuring the organization receives payment for services offered or goods sold to clients.

Course Description/Agenda


Accounts Receivable typically involves sending invoices and statements to clients, posting the financial transaction to an accounting system and making bank deposits. 

This class provides an overview of the credit, collections, and accounts receivable functions for accounts receivable managers. Included are tips and techniques as well as case studies. The class shows how to streamline the credit process and how to make this area as efficient as possible.

Each Student Receives:

  • student manual or textbook for use during and after the class.
  • Instruction from an experienced business professional (minimum of 30 years) with at least five years in a corporate senior management position (CEO, President, COO, Vice President, CFO).
  • Real life exercises to support training materials.
  • Individual attention (classes are limited to four students).
  • Personalized Certificate of Completion.

COURSE OUTLINE

Module One: Approving the Credit

  • Understand the importance of accurately evaluating credit
  • Evaluate the creditworthiness of customers
  • Understand the different types of financial statements
  • Identify the warning signs of customers in trouble

Module Two: Billing

  • Understand the implications of billing on business credit and collections
  • Prepare a clear and accurate invoice that does not prevent your company from being paid in a timely manner
  • Recognize the effect terms can have on collections
  • Implement electronic billing in your organization

Module Three: Collecting the Money

  • Understand where collections fits into the big picture
  • Evaluate different collection techniques
  • Know when to turn an account over to a collection agency
  • Realize when a lawyer is needed to approach the debtor

Module Four: Accounts Receivable Issues

  • Understand the importance of Accounts Receivable
  • Apply cash efficiently and effectively
  • Effectively manage the bad debt
  • Evaluate the problems that occur when Accounts Receivable is not updated correctly
  • Assess the best Accounts Receivable techniques

Module Five: Handling Deduction Issues

  • Evaluate the unearned discounts and unauthorized deduction problem at your company
  • Work with customers to eliminate the discount/deduction problems
  • Work internally to minimize the problem
  • Recommend techniques that will keep the problem at bay

Module Six: Interacting with Sales  and Marketing

  • Understand the importance of the sales / credit relationship
  • Develop a good working relationship with the sales department
  • Recognize what credit can do to make sales job a little easier
  • Make a pitch for credit at sales meetings

Module Seven: Customer Relations and Customer Visits

  • Understand the value of customer visits
  • Know how to plan a visit to a and international customer
  • Know what to expect when visiting an international customer
  • Find creative ways to make customer visits happen

Module Eight: Letters of Credit and Other Security Instruments

  • Understand the proper use of letters of credit
  • Take the appropriate steps to avoid the problems that typically plague the use of letters of credit
  • Use Uniform Commercial Code (UCC) –1 filings in the appropriate manner to guard your firm's security interest
  • Identify other appropriate techniques to use to sell when open account is not an option

Module Nine: Legal Considerations  Surrounding Credit

  • Understand the laws that affect the credit function identify potential fraud situations
  • Make intelligent decisions about this escheat issues
  • Understand the possibilities of alternative dispute resolution

Module Ten: Bankruptcy

  • Fully understand your rights as a creditor
  • Recognize the importance of filing proof of claims
  • Recognize the implications of reclamation
  • Work with the preference claims against your firm

Module Eleven: Technology in the  Credit and Collections Department

  • Know how technologies being used in credit and collections
  • Integrate the use of email into daily operations
  • Make the best use of Internet facilities
  • Understand and develop your own credit scoring models

 

More Seminar Information

Academy of Business Training
Academy of Business Training

Delivery Method

On-Site Training On-Site Training

Also Available As

Seminar Seminar

 
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