Accounts Receivable and Credit Policy Management Training

The programme

Programme overview

Ratomac Accounts Receivable and Credit Policy Management course delves into the pivotal role of Accounts Receivable (AR) in ensuring effective payment transactions and maintaining accurate financial records. It emphasises crafting and implementing a robust credit policy, which is crucial for delineating clear customer credit terms and managing overdue payments proficiently.

Who should attend

Who is this programme for?

• Managers and Specialists in AR Departments
• Credit Managers and Officers
• AR and Revenue Accountants
• Billing and Collection Clerks
• Professionals in Accounting, Finance, Operations, and Sales Working Alongside AR and Credit Departments

Learning outcomes

What you will learn

• Craft and enact credit policies that align with corporate goals
• Implement best practices for billing processes
• Execute proactive collection strategies
• Collaborate with sales teams to bolster the financial standing of the company
• Critically assess and improve the AR process through industry best practices
• Utilise advanced tools and techniques for efficient AR performance monitoring

Personal Benefits

• Utilise specialised Excel functions for AR management
• Construct comprehensive AR aging reports
• Employ diverse collection tactics effectively
• Perform thorough analyses of AR

Explore the programme

Detailed programme outline

1-Day Essentials — Training Outline

• Mission and role delineation within the Credit Department, and the credit evaluation/approval process
• Legal and financial assessments of customers, and determining credit limits based on anticipated turnover
• Using customer advances, bank guarantees, and insurance to mitigate risk
• Managing orders, credit checks, and ensuring accurate, prompt invoicing
• Revenue recognition, invoice postings, and sub-ledger maintenance
• Collection methods, dedicated revenue bank accounts, and reconciliations
• Reviewing debtor reports and aging analysis, and adjusting credit limits
• Establishing consistent follow-up processes and countering customer delaying tactics
• Provisioning policy adherence and managing debt write-offs

2-Day Comprehensive — Training Outline

• Mission and role delineation within the Credit Department
• Processes for credit evaluation and approvals
• Handling credit cards, slow-moving accounts, provisioning, and bad debts
• Policies requiring board-level approval
• Legal and financial assessments of customers
• Analysis of financial statements and third-party validations
• Determination of credit limits based on anticipated business turnover
• Utilisation of customer advances, bank guarantees, and insurance to mitigate risks
• Managing orders, conducting credit checks, ensuring prompt delivery, and accurate invoicing
• Revenue recognition and invoice postings
• Maintenance of detailed sub-ledgers and regular balance confirmations
• Employing various collection modes and managing dedicated revenue bank accounts
• Ensuring daily postings and reconciliations are up to date
• Routine review of debtor reports and aging analysis
• Evaluation and adjustments of credit limits
• Setting targets and monitoring performance
• Creation of reports that prompt action
• Measuring team and individual performance metrics
• Managing and motivating the AR team for peak performance
• Developing a personal action plan for continuous improvement
• Establishing consistent follow-up processes
• Engaging in personal visits and maintaining regular communication
• Identifying and countering delaying tactics by customers
• Taking legal action when necessary
• Adherence to the company's provisioning policy
• Management of write-offs and the subsequent accounting processes

Learning approach

How you will learn

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.– Course Material: Access well-crafted supporting resources.– Group Work: Collaborate on discussions and case studies for practical insights.– Workshops & Role-Play: Participate in immersive, scenario-based activities.– Practical Application: Focus on applying theoretical knowledge in real situations.– Post-Training Support: Receive extensive support after training for skill implementation.

Discuss your requirements

Dates, duration & arrangements

Contact Ratomac to confirm dates, duration, delivery format, entry requirements and any applicable assessment or certification before booking.