Accounts Receivable Management for Small- to Mid- Sized Companies ON DEMAND

Overview

If a company’s existence is measured by revenue, then its lifeblood must be how well it manages accounts receivable. Many business executives say that a sale isn’t a sale until the money has been collected. This course reviews best practices in the accounts receivable function of small to medium commercial entities as it relates to invoicing and pricing. It also focuses on credit best practices including credit evaluation, use of Z Score and other methods of securing customer payment when open-ended credit is deemed too risky. This course also explores collection best practices, including those related to account reconciliation. Payment application, internal controls, and available banking technology are also reviewed.

Highlights

Written Policies and Procedures. Accounts Receivable Process Overview. Sales and the Accounts Receivable Management Process. Best Practices - Sales Processes. Case Study. Credit. Best Practices - Customer Credit Evaluation. Tier 1 Customer Credit Analysis. What Business Credit Reports are Available? Tier 2 Customer Credit Analysis. Working with Internally Prepared Financial Statements. Financial Ratio Analysis. Altman Z Score. Credit Approval. Credit Monitoring. Best Practices - Customer Monitoring. Case Study - Tier 1 Customer. Case Study - Tier 2 Customer. Methods to Secure the Sale. Methods to Secure the Sale Best Practices. Obtain credit insurance where it is available and makes commercial sense to do so. Factoring. Personal Guarantees. UCC-1s. Collections. Collections Best Practices. Account Reconciliation. Accounts Receivable Administration. Portfolio Review. Internal Controls. Payment Application. Bank Remittance Processing Options.

Prerequisites

None.

Designed For

CPAs, CFOs, controllers, financial professionals, and auditors.

Objectives

Associate the importance of the billing, pricing, and credit memo process to accounts receivable best practices. Differentiate between customer credit evaluation techniques. Define and use the Altman Z score and other ratios in evaluating customers. Recognize nontraditional methods to secure customer payment. Recognize best practices to the collection function. Associate the importance of internal controls with the payment application function.

Preparation

None.

Notice

None.