Prospen Africa’s Accounts Receivable 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.
Participants will conclude this Accounts Receivable Training course 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.
This Accounts Receivable 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.
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.
Day 1: Foundations and Credit Policy
Module 1: Crafting a Credit Policy
Understanding the mission and role within the Credit Department.
Processes for credit evaluations and approvals.
Module 2: Customer Knowledge
Conducting legal and financial assessments of customers.
Analysis of financial statements and setting credit limits.
Module 3: Risk Minimization in Credit
Utilizing advances, guarantees, and insurance to mitigate risks.
Module 4: Efficient Invoicing Systems
Order management, credit checks, delivery, and invoicing accuracy.
Module 5: Recording Financial Transactions
Revenue recognition, invoice postings, and ledger maintenance.
Day 2: Collection Strategies and Practical Applications
Module 6: Debt Collections Strategies
Collection methods, revenue account management, and reconciliations.
Module 7: Implementing Internal Controls
Reviewing reports, adjusting credit limits, and monitoring performance.
Module 8: Addressing Collection Delays
Follow-up processes, communication strategies, and legal actions.
Module 9: Provisioning and Debt Write-Offs
Adhering to provisioning policies and managing write-offs.
Module 10: Comprehensive Case Study
Examination of a complete AR cycle from order to cash.