Accounts Receivable Training

The programme

Programme overview

Ratomac Accounts Receivable Training course delves into the pivotal role of Accounts Receivable (AR) in ensuring effective payment transactions and maintaining accurate financial records. It emphasizes 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?

This Accounts Receivable Training course is designed 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

Participants will conclude this Accounts Receivable Training course with the ability to:

• 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.
• Utilize advanced tools and techniques for efficient AR performance monitoring.

Personal Benefits

Participants will acquire the ability to:

• Utilize specialized 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

Day 1: Foundations and Credit Policy

Module 1: Crafting a Credit Policy

• Understanding the mission and role within the Credit Department.
• Processes for credit evaluations and approvals.

Module 2: Customer Knowledge

• Conducting legal and financial assessments of customers.
• Analysis of financial statements and setting credit limits.

Module 3: Risk Minimization in Credit

• Utilizing advances, guarantees, and insurance to mitigate risks.

Module 4: Efficient Invoicing Systems

• Order management, credit checks, delivery, and invoicing accuracy.

Module 5: Recording Financial Transactions

• Revenue recognition, invoice postings, and ledger maintenance.

Day 2: Collection Strategies and Practical Applications

Module 6: Debt Collections Strategies

• Collection methods, revenue account management, and reconciliations.

Module 7: Implementing Internal Controls

• Reviewing reports, adjusting credit limits, and monitoring performance.

Module 8: Addressing Collection Delays

• Follow-up processes, communication strategies, and legal actions.

Module 9: Provisioning and Debt Write-Offs

• Adhering to provisioning policies and managing write-offs.

Module 10: Comprehensive Case Study

• Examination of a complete AR cycle from order to cash.

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.