This program is designed to give you guidance about the latest credit policies. This training program has been planned out keeping in mind both the traditional and up to the minute trends and requirements of the given field. This makes the course an ideal learning opportunity for all of its participants. Please make a note that a custom proposal can also be acquired, if you have different training requirements for your team.

 

Should you take this course?

If you are one of the following, then this course is perfect for you: Accounts Receivable (AR) department managers, AR and revenue accountants, credit officers, credit managers, AR staff, billing and collection clerks, professionals in accounting, finance, operations and sales who interact with Accounts Receivable, Credit Department and AR specialists.

 

Course Outline

Module-I

  • The Five C’s of Credit
  • Credit Policies Management
  • Credit Department Responsibility
  • Non-Financial Factors Affecting Credit Decision
  • Outline of a Credit Policy
  • Credit Department Mission
  • Factors Affecting Credit Policies

Module-II

  • Credit Department Objectives
  • Roles and Responsibilities
  • Procedures
  • Measuring Results
  • Review New Accounts
  • Assessing Selected Financial Ratios
  • Re-Evaluate Existing Accounts
  • Financial Statements: What to Look for

Module-III

  • Setting the Credit Limit
  • Building a Lucrative Relationship with the Customer
  • Preventing the Fatal Mistake: Sending the Bill with Errors
  • Technology Usage
  • Meeting the Needs of the Customer
  • The Billing Process
  • Impact of Up Front Operations on Billing
  • Best Practices in Billing
  • Efficient Billing Process Means Faster Collection

Module-IV

  • The Sale Has Been Made, Now, It’s Time to Collect Your Money
  • Cash: It’s Worth your Efforts
  • Tips, Techniques and Guidelines for Faster Collection
  • Breaking the Ice
  • Importance of Setting a Collection Policy
  • Using Different Approaches in Collection
  • Strategies in Dispute Management
  • Best Practices in Collection
  • The Relationship Between Sales and Credit
  • Maintaining Credit-Sales Relationship

Module-V

  • Accounts Receivable Process Analysis
  • Improving the Quality of Accounts Receivable
  • Role of Sales in Issuing Credit and in Collection
  • 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)

Module-VI

  • Analyzing the Operating and Cash Cycles
  • Managing AR through Portfolio Strategy
  • Analyzing the Size, Composition and Complexity of AR Portfolio
  • Segment the Portfolio
  • Formulate an Approach for Specific Segments
  • Keeping in Control
  • Internal Controls in AR Processes
  • AR and the Monthly Closing of Accounts
  • Outsourcing of Accounts Receivable Functions

 

Course Objectives

This course aims at give you the capability to:

  • Create effectual credit policies that meet organization’s goals
  • Use financial and non-financial analysis to assist in making the credit decision
  • Define Accounts Receivable (AR) function and its importance in companies/organizations
  • Preserve effective collection policy to make sure gifts are being converting into money
  • Assess the Accounts Receivable procedures and put them into best practice
  • Apply tools and techniques to efficiently monitor AR performance

Course Curriculum

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PRIVATE COURSE
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  • 10 Days
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