INTRODUCTION
A sizable share of a company's working capital is tied up in Accounts Receivable (AR) and this poses a high liquidity risk. In this course, we expand your knowledge and expertise in AR. This will enable you and your organization to manage your accounts receivable effectively without compromising your credit sales.
DURATION
5 Days
WHO SHOULD ATTEND?
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.
COURSE OBJECTIVES
At the end of this IRES training seminar, you will learn 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
TOPICS TO BE COVERED
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
METHODOLOGY
The instructor led trainings are delivered using a blended learning approach and comprise of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.
All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.
ACCREDITATION
Upon successful completion of this training, participants will be issued with an Indepth Research Services (IRES) certificate certified by the National Industrial Training Authority (NITA).
TRAINING VENUE
The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments and lunch.
All participants will additionally cater for their, travel expenses, visa application, insurance, and other personal expenses.
ACCOMMODATION AND AIRPORT PICKUP
Accommodation and airport pickup are arranged upon request. For reservations contact the Training Officer.
Email:[email protected].
Mob: +254 715 077 817
TAILOR- MADE
This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location.
For further inquiries, please contact us on Tel: +254 715 077 817.
Mob: +254 792516000, +254 792516010 ,+250789621067or mail [email protected]/[email protected]
PAYMENT
Payment should be transferred to IRES account through bank on or before start of the course.
Send proof of payment to [email protected]/[email protected]
Foundation
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Kenya
Rwanda