Accounts Receivable and Credit Policies Management Training Courses -

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Course Methodology

This course demonstrates theoretical and practical core topics in addition to introducing Excel in managing accounts receivable. The course also features role playing and presentations by participants.

Course Objectives

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

Develop effective credit policies that meet a company’s objectives
Use billing best practices techniques
Employ effective collection policies
Partner with the sales force for the benefit of the company
Evaluate the accounts receivable process and implement best practices
Apply tools and techniques to effectively monitor AR performance

Target Audience

Accounts receivable 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 the accounts receivable and credit department.

Target Competencies

Managing accounts receivable effectively
Understanding the implications of credit decision and policy
Performing accounts receivable analysis
Analyzing different collection techniques
Adopting efficient billing techniques
Preparing accounts receivable aging report
Monetizing accounts receivable
Utilizing Excel functions

Credit policies management
- Credit department responsibility
- Factors affecting credit policies
- The five Cs of credit
- Non-financial factors affecting credit decision
- Outline of a credit policy
  - Credit department mission
  - Credit department objectives
  - Roles and responsibilities
  - Procedures
  - Measuring results
- Review new accounts
- Re-evaluate existing accounts
- Financial statements: what to look for
- Analyzing selected financial ratios
- Setting the credit limit
- Establishing a profitable relationship with the customer
- Meeting the needs of the customer
The billing process
- An 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
You made the sale, now collect your money
- Cash: it is worth your efforts
- Tips, techniques and guidelines for faster collection
- Importance of setting a collection policy
- Using different collection approaches
- Strategies in dispute management
- Best practices in collection
- Accounts receivable factoring, pledging and assignment
The relationship between sales and credit
- Breaking the ice
- Maintaining credit sales relationship
- 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)
- Analyzing the operating and cash cycles
- Managing AR through portfolio strategy
- Analyzing the size, composition and complexity of the AR portfolio
- Segmenting the portfolio
- Formulating an approach for specific segments
Staying in control
- Internal controls in AR processes
- AR and the monthly closing of accounts
- Outsourcing of accounts receivable functions

Meirc Professional Certificate (MPC)

MPC certified courses by Meirc Training and Consulting are designed for those willing to challenge themselves and go the extra distance. Participants who fully attend an MPC course and successfully complete the test on the last day, will receive a Meirc Professional Certificate (MPC), in addition to the one they receive for attendance. MPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.

List of Certified Courses

National Association of State Boards of Accountancy (NASBA)

Meirc Training & Consulting is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website www.learningmarket.org

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