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Accounts Receivable and Credit Policy in Receivable Management

5 Day Training

Dates: Available on Request
Locations: Johannesburg, South Africa
Platform: Available In-Class / Online

Price: Available on request

Group Bookings get a discount

Course Introduction

This Accounts Receivable and Credit Policy in Receivable Management Training course delves into the pivotal role of Accounts Receivable (AR) in ensuring effective payment transactions and maintaining accurate financial records. It emphasizes crafting and implementing a robust credit policy, which is crucial for delineating clear customer credit terms and managing overdue payments proficiently.

Course Objectives

Participants will conclude Accounts Receivable and Credit Policy in Receivable Management Training with the ability to:

  • Craft and enact credit policies that align with corporate goals.

  • Implement best practices for billing processes.

  • Execute proactive collection strategies.

  • Collaborate with sales teams to bolster the financial standing of the company.

  • Critically assess and improve the AR process through industry best practices.

  • Utilize advanced tools and techniques for efficient AR performance monitoring.

Personal Benefits

Participants will acquire the ability to:

  • Utilize specialized Excel functions for AR management.

  • Construct comprehensive AR aging reports.

  • Employ diverse collection tactics effectively.

  • Perform thorough analyses of AR.

Who should attend?

Accounts Receivable and Credit Policy in Receivable Management Training course is designed for:

  • Managers and specialists in AR departments.

  • Credit managers and officers.

  • AR and revenue accountants.

  • Billing and collection clerks.

  • Professionals in accounting, finance, operations, and sales working alongside AR and credit departments.

Finance Courses

Training Methodology

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.

Training Outline

Module 1: Crafting a Credit Policy

  • Mission and role delineation within the Credit Department.

  • Processes for credit evaluation and approvals.

  • Handling credit cards, slow-moving accounts, provisioning, and bad debts.

  • Policies requiring board-level approval.

Module 2: Customer Knowledge

  • Legal and financial assessments of customers.

  • Analysis of financial statements and third-party validations.

  • Determination of credit limits based on anticipated business turnover.

Module 3: Risk Minimization in Credit

  • Utilization of customer advances, bank guarantees, and insurance to mitigate risks.

Module 4: Efficient Invoicing Systems

  • Managing orders, conducting credit checks, ensuring prompt delivery, and accurate invoicing.

Module 5: Recording Financial Transactions

  • Revenue recognition and invoice postings.

  • Maintenance of detailed sub-ledgers and regular balance confirmations.

Module 6: Debt Collections Strategies

  • Employing various collection modes and managing dedicated revenue bank accounts.

  • Ensuring daily postings and reconciliations are up to date.

Module 7: Implementing Internal Controls

  • Routine review of debtor reports and aging analysis.

  • Evaluation and adjustments of credit limits.

  • Setting targets and monitoring performance.

  • Creation of reports that prompt action.

  • Measuring team and individual performance metrics.

  • Managing and motivating the AR team for peak performance.

  • Developing a personal action plan for continuous improvement.

Module 8: Addressing Collection Delays

  • Establishing consistent follow-up processes.

  • Engaging in personal visits and maintaining regular communication.

  • Identifying and countering delaying tactics by customers.

  • Taking legal action when necessary.

Module 9: Provisioning and Debt Write-Offs

  • Adherence to the company’s provisioning policy.

  • Management of write-offs and the subsequent accounting processes.

Module 10: Comprehensive Case Study

  • Examination of a complete AR cycle, demonstrating practical application from order to cash.

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