Accounts Receivable:

Best Practices for Small

to Medium Sized

Commercial Entities

Course Description:

This course explores each functional area, starting with the sales function, and the best practices that relate to accounts receivable management.  Credit and collections will each be discussed followed by accounts receivable management administrative best practices, which will include portfolio review, internal controls and payment application. Banking best practices as they relate to accounts receivable management will be explored last.

Learning Objectives:

Upon successful completion of this course, participants will be able to:

·         Understand the importance of the billing, pricing and credit memo process to accounts receivable best practices

·         Apply customer credit evaluation techniques

·         Use the Altman Z score and other ratios in evaluating customers

·         Understand non-traditional methods to secure customer payment

·         Apply best practices to the collection function

·         Appreciate the importance of customer account reconciliation and minimize the time spent on this activity

·         Understand the importance of internal controls and the payment application function

·         Be aware of technology available in the banking system to speed payment application and account reconciliation