Accounts Receivable Management: Optimizing Credit and Collections

Description

Welcome to Accounts Receivable Management: Optimizing Credit and Collections. In this course, you'll learn:

1. Introduction to Accounts Receivable Management:

   • Overview of accounts receivable and its importance in financial management.
   • Role of accounts receivable in the working capital cycle.
   • Fundamental principles and concepts in managing receivables.

2. Credit Policies and Procedures:

   • Development and implementation of credit policies.
   • Assessment of creditworthiness and risk.
   • Monitoring and adjusting credit terms based on customer behavior and market conditions.

3. Billing and Invoicing:

   • Best practices in billing and invoicing to enhance accuracy and timeliness.
   • Strategies for preventing billing disputes and customer inquiries.
   • Integration of billing processes with overall receivables management.

4. Receivables Collection Strategies:

   • Techniques for optimizing collection processes.
   • Effective communication and negotiation skills for collections.
   • Developing and implementing collection policies to minimize overdue accounts.

5. Cash Application and Reconciliation:

   • Streamlining cash application processes for efficiency.
   • Reconciliation methods to ensure accuracy in financial records.
   • Addressing discrepancies and managing unapplied cash.

6. Accounts Receivable Technologies and Trends:

   • Overview of technological solutions for accounts receivable management.
   • Exploration of automation tools and software for credit and collections.
   • Emerging trends in accounts receivable technology and their impact on the industry.