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Accounts Receivable & Cash Management

29 Aug, 2024, Remote Online Training - Public

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Venue Details

Remote Online Training - Public


Contact us

FOR COURSE DETAILS

Juliany,

Office: 03 2283 6109

Mobile: +60 122281247

juliany@ipa.com.my

Phoebe,

Office: 03 2283 6100

Mobile: +60 193637822

phoebe@ipa.com.my

Bee Teng,

Office: 03 2282 6112

Mobile: +60 172566121

beeteng@ipa.com.my

FOR CUSTOMISED IN-HOUSE TRAINING

Jane,

Office: 03 2283 6101

Mobile: +60 129418251

jane@ipa.com.my

Keith,

Office: 03 2283 0000

Mobile: +60 162272735

keith@ipa.com.my

ADDRESS

A-28-5, 28th Floor, Menara UOA Bangsar,
No.5, Jalan Bangsar Utama 1,
59000 Kuala Lumpur

FOCUSING ON
  • Module 1: Accounts Receivable Goals and Objectives
  • Module 2: Best Practices - BILLING
  • Module 3: Collections
  • Module 4: Cash Management
  • Module 5: Issues on Account Receivable & Cash Management

SPECIAL FEATURE: Participants Will Receive a Set of Practical Templates suitable for all sectors.

OVERVIEW
Accounts receivable refers to the outstanding invoices a company has or the money the company is owed from its clients. The phrase refers to accounts a business has a right to receive because it has delivered a product or service. Receivables essentially represent a line of credit extended by a company and due within a relatively short time, ranging from a few days to a year.
AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Understanding the Objectives Accounts Receivable
  2. Learning how the Accounts Receivable Process Works
  3. Understanding the Sales Invoice Processing Procedure
  4. Understanding Accounts Receivable - Critical Success Factors
  5. Understanding Issues on Accounts Receivable
WHO SHOULD ATTEND
Accounts Receivable Staff, Business Managers, Finance Executive, Finance Assistant, Senior Controller, Senior Supervisor, Senior Account Clerk & Accounts Assistants
METHODOLOGY
Case Study & Group Discussion. Real-current problematic Accounts Receivable cases will be analyzed, and scenario solutions will be discussed within the course.
COURSE CONTENT
9:00

MODULE 1: ACCOUNTS RECEIVABLE GOALS AND OBJECTIVES

  • Keep customer contact information updated
  • Integrate a structured credit approval process
  • Send the invoice as soon as possible
  • Send reminder emails
  • Set earlier due dates
  • Automate your billing process
  • Apply cash payments to accounts immediately upon receipt
  • Give customers multiple payment options
  • Check for accounts receivable errors regularly


10.45

MODULE 2: BEST PRACTICES - BILLING

  • Create a system for resolving billing disputes
  • Bill your customers electronically
  • Take steps to avoid using a collection agency
  • Update your current credit policy
  • Improve the process by finding the origin of the problem
  • Provide accounts receivable personnel with training on credit laws
  • Reward and encourage accounts receivable teams
  • Adjust bad debt reserve calculations on a schedule
  • Review credit lines to maximize revenue

 

12.00

MODULE 3: COLLECTIONS

  • One point-of-entry customer activation
  • Online sales cycle
  • Access to customer orders database
  • Automatic bankruptcy notification
  • Automatic fax of overdue invoices
  • Automatic issuance of dunning letters
  • Collection call database
  • Customer order exception tracking
  • Grant percentage discounts for early payment
  • Immediate review of unapplied cash

 

1:00 Lunch
2:00

MODULE 4: CASH MANAGEMENT

  • Consolidate bank accounts
  • Controlled disbursements
  • Electronic funds transfer
  • Lockbox collections
  • Utilize an investment policy
  • Zero balance accounts
  • Avoid delays in check posting
  • Utilize Internet-based cash flow analysis software

 

3:45

MODULE 5: ISSUES ON ACCOUNT RECEIVABLE & CASH MANAGEMENT

  • Missed follow-ups on overdue invoices.
  • Writing off outstanding receivables as bad debt.
  • Errors on bills and invoices.
  • Allocating payments incorrectly.

 

5:00 End of Course