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This program will enable you to create up-to-date credit policies under the guidance of methods and outlines provided. The training program outline is up to date and pertinent to marketplace requirements, thus catering well to all analytical prediction of training needs in the specified area. A customised proposal can also be arranged, to suit the training requirement of your team.

Who Should Attend?

Accounts Receivable (AR) department managers, credit managers, AR staff, AR and revenue accountants, credit officers, billing and collection clerks, AR specialists, and professionals in accounting, finance, operations and sales who interact with Accounts Receivable and Credit Department.

Course Outline

Module-I

  • Credit Policies Management
  • Credit Department Responsibility
  • Factors Affecting Credit Policies
  • The Five C’s of Credit
  • Non-Financial Factors Affecting Credit Decision
  • Outline of a Credit Policy:
  • Credit Department Mission

Module-II

  • Credit Department Objectives
  • Roles and Responsibilities
  • Procedures
  • Measuring Results
  • Review New Accounts
  • Re-Evaluate Existing Accounts
  • Financial Statements: What to Look for
  • Analysing Selected Financial Ratios

Module-III

  • Setting the Credit Limit
  • Establishing a Profitable Relationship with the Customer
  • Meeting the Needs of the Customer
  • The Billing Process
  • Efficient Billing Process Means Faster Collection
  • Preventing the Fatal Mistake: Sending the Bill with Errors
  • The Use of Technology
  • Impact of Up Front Operations on Billing
  • Best Practices in Billing

Module-IV

  • You Made the Sale, It’s Time to Collect Your Money
  • Cash: It’s Worth your Efforts
  • 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
  • The Relationship Between Sales and Credit
  • Breaking the Ice
  • Maintaining Credit-Sales Relationship

Module-V

  • Role of Sales in Issuing Credit and in Collection
  • Accounts Receivable Process Analysis
  • Improving the 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)
  • Calculating Best Possible Days Sales Outstanding (BPDSO)
  • Collection Effectiveness Index (CEI)

Module-VI

  • Analysing the Operating and Cash Cycles
  • Managing AR through Portfolio Strategy
  • Analysing the Size, Composition and Complexity of AR Portfolio
  • Segment the Portfolio
  • Formulate an Approach for Specific Segments
  • Keeping in Control
  • Internal Controls in AR Processes
  • AR and the Monthly Closing of Accounts
  • Outsourcing of Accounts Receivable Functions

Course Objectives

By the end of the program, participants will be able to:

  • Develop effective credit policies that meet company’s objectives
  • Use financial and non-financial analysis to assist in making the credit decision
  • Define the function of Accounts Receivable (AR) and its role in organizations
  • Maintain effective collection policy to ensure converting gifts into cash
  • Evaluate the Accounts Receivable process and implement best practices
  • Apply tools and techniques to effectively monitor AR performance

General Notes

  • All our courses can be facilitated as Customized In-House Training course.
  • Course duration is flexible and the contents can be modified to fit any number of days.
  • As for Open Enrolment Courses, we offer our clients the flexibility to chose the location, date, and time and our team of experts who are spread around the globe will assist in facilitating the course.
  • The course fee includes facilitation, training materials, 2 coffee breaks, buffet lunch and a Certificate of successful completion of Training.
  • FREE Consultation and Coaching provided during and after the course.
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Course Curriculum

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