Conflict Management - Working Through Differences
Interactive Training for Government AgenciesEnd-to-End Process for Accounts Receivables
An onsite accounts receivable seminar.
Learn the complete Accounts Receivable Process from start to finish.
In this onsite accounts receivable seminar you will learn the keys to effectively processing accounts receivable all the way through to collecting payments on time and developing new up-to-date strategies for your Accounts Receivable process. We teach best practice techniques used by both small and large companies to maximize their cash flow from Accounts Receivable.
Accounts Receivable and Collections have a significant impact on the bottom line of all small, medium and large businesses. This 1-day onsite Accounts Receivable Process training seminar helps you increase cash flow and control over one of your most valuable assets.
In most companies, account receivables comprises 40% to 60% of the balance sheet, yet the risk management of this valuable asset is often not proportionate to its financial importance.
In this interactive Accounts Receivable training, participants will become thoroughly grounded in all aspects of AR administration, cash application, credit management and the collections process. The session has been carefully designed to engage all levels of credit/receivable staff and management employed in any business where invoices are issued and credit is given.
This Accounts Receivable course is specifically tailored to your industry and the products and services you provide.
Who should attend
This course is designed for CEOs, CFOs, Senior Managers, Sales Managers, Accounting Staff.
Training Benefits
- Apply current accounts receivable management techniques
- Understand the importance of contract management to the A/R process
- Institute best practices for a credit & collections function
- Learn the importance of training of everyone in the total A/R process
- Protect the company by understanding the risk inherent in your customer list
- Understand why the use of a loss mitigation company is only a matter of “when” not “if”
- Streamline your process for maximum efficiency and improved cash position
Overview of Topics and Learning Points Developed
- When and how to process Accounts Receivable to maximize cash flow
- Contract administration and its effect on managing Accounts Receivable
- How does time effect the value of your Accounts Receivable
- Learn to calculate the cost of your Accounts Receivable process
- Understand what makes a good in-house collector
- Learn the value of an outside loss mitigation company
Course Outline
Definition of End-to-End Process
- Begins before you accept a new customer
- Continues through the life of the customer relationship
- Must consider and classify your client's ability to pay at all times
- Considers economic factors
- Need to know legal ramifications
- Need to know your core competencies and not be afraid to get help
- How to select an outside collection agency
Accounts Receivable
- Why is Accounts Receivable so important
- Contract administration and its effect on managing Accounts Receivable
- Importance of cash applications process
- Cash management techniques
- When to invoice
- Where does invoice info come from
- Methods of presenting invoices for payment
- Methods of receiving payments
- Management reporting of aging
- Importance of status calls to customers
- How and when to talk to the sales staff
- How to handle customer questions
Customer Vetting
- Who are your customers?
- What are their needs?
- What is their financial situation?
- How have they treated other vendors?
- How have they treated their other payment obligations like the government?
- What is their industry?
- Who owns them?
- Who is their ultimate owner?
- Are they domestic or foreign?
- Where are they located?
- Who is their law firm?
- Who is their accounting firm?
- Why do they want to do business with you?
- Are they a related party?
- Is address of company a mail drop?
- How do they answer the phone?
- Where did the lead come from?
- What is a Z Score?
Customer Monitoring
- Payment history
- Occurrences of NSFs
- Returned invoices
- Unusual address changes
- Economic conditions of your customers
- Where is the risk?
Following the terms of the contract
- Are you following contract terms?
- Is the customer following the terms of the agreement?
- Do you have a central repository for contracts?
- How are contract terms communicated to Accounts Receivable staff
- Who monitors changes?
- Are your contracts backed up off site?
- When do you stop delivering? Get legal advice!!!
Cash applications
- How current are your cash applications?
- The dirty little secret of “cash suspense”
- By the way, who owns your cash float?
- Does your invoicing process facilitate easy payment?
In-House Collections
- Who does in-house collections? Are they really collectors?
- How are they trained?
- What is their “real” job?
- Do they use a script?
- Do they have an up-to-date contact list?
- How is the salesman involved?
- Are his/her commissions effected by slow pays or charge-offs?
- Are collections your core competency?
- How much does it cost to collect in-house?
- What system do you use to track collections?
- What is the most important thing in collecting an account?
- Collectors are a different breed of cat
- How do you motivate collectors?
- What are the legal ramifications of a personal accounts vs. commercial accounts?
- Does legal need to be involved?
- Stopping the Domino Effect
When is it time to call in the professionals?
- Do you do your own roofing? Do you build your own computers?
- You have to know your internal costs to make an informed decision
- Size matters
- Volume matters
- Systems matter
- Experience matters
- What about international accounts?
- When do you take legal action?
- Letting go
- Bringing other solutions to your customers
Financial Impact of Past Due Accounts
- Liquidity
- Debt Covenants and the Bank
- Factoring
- Matching of Cash inflow and outflow
- Do you have a policy for your allowance for doubtful accounts?
To receive more information about this training call toll free at 877-385-5515.
You may also email us at This email address is being protected from spambots. You need JavaScript enabled to view it. .
Collecting Accounts Receivable Fast and Legally
Learn Proven Approaches and Strategies to Excel at Collecting Past-Due Accounts
Who Should Attend
Accounting professionals, customer service managers, small business owners, collections professionals, salespeople, credit professionals, bookkeepers, financial managers or anyone who wants to collect more in less time.
Training Benefits
- Carry out the best practices for an efficient accounts receivable department
- Plan your strategy – different approaches for different situations
- Identify creative negotiating strategies – getting outside the box to find better solutions
- Recognize the legal consequences of collecting accounts receivable
- Identify how to format a cash-flow forecast to plan, monitor and control the cash flows and the cash position of a company, maintaining its liquidity
- Recognize how to improve a company’s security by reducing financial risks and achieving adequate liquidity
Overview of Concepts and Deliverables Provided
- Recall what you need to know about federal laws that apply to collections, including the Fair Debt Collection Practices Act and the Consumer Protection Act
- Recognize the difference between promissory notes-secured versus nonsecured
- Identify what you need to know about Mutual Release Agreements
- Recall how to legally track down customers who have skipped out on their debts
- Recognize the key elements in analyzing credit application forms
- Recall how well crafted credit terms can generate business and profits
- Recognize how to evaluate your credit and collections system as a whole
- Identify how to respond effectively to common payment objections
- Distinguish when it is time to write rather than phone
- Recognize collection letter mistakes and how to avoid them
- Recall the basics of a good collection letter
- Write letters for special situations
- Recognize when and how you should consider legal action to collect a past due account
- Distinguish how to work successfully with outside collection agencies
- Identify how to turn your interest charges into a strategic tool
- Recognize the newest types of payment fraud
- Identify how to be effective when doing business internationally
For More information call Toll Free 1-877-385-5515
Or, email us at This email address is being protected from spambots. You need JavaScript enabled to view it.
Accounts Receivable Training Overview
Managing accounts receivable has never been an easy job. Companies implement best practices in accounts receivable operations in order to generate bottom-line results. The credit, receivables, and collections function has changed radically over the last few years, and these changes are likely to continue for the foreseeable future.
Learn the best practices for accounts receivable.
Technology and the Internet are causing a complete rethinking of the way accounts receivable departments operate. New developments in skip tracing, electronic invoicing, email communication, and privacy laws all require accounts receivable personnel be up-to-date on the newest accounts receivable processes and procedures. Our accounts receivable seminars are custom developed to focus on best practice processes and procedures that will make a positive impact in your organization.
This training is designed to help the accounts receivable professional manage the staggering workload of the credit and collection function.
Onsite Accounts Receivable Training Sample Programs
| Collecting Accounts Receivable Fast and Legally |  |
| End-to-End Process for Accounts Receivables | |
| Sales and Use Tax | |
Online Accounts Receivable Training Courses
| The Basics of Sales and Use Tax |  |
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