Managing Accounts Receivables - Best Practices

Introduction

In today's global marketplace, competitive pressure and industry practice mandate that products and services be sold on a credit vs. cash-on delivery basis. This practice often produces a receivables asset that is one of the largest tangible assets on a company¡¦s balance sheet. Businesses are discovering that success truly lies on the proper management of receivables. Many firms are thus dedicating resources solely for this purpose. And people working on receivables are receiving significant recognition with increasing complexity at work.

This course is developed to build up expert knowledge and working skills on receivables management among the participants. Key areas of the course are -

1. Basics of Accounts Receivable

2. Receivables Administration and Management

3. IT Skills for Receivables Management

4. Managerial Reporting on Customers and Receivables

The course will provide an overview of the Receivable Management as a separate accounting information system. The participants will develop basic accounting knowledge required for understanding transaction recording. The course also focuses on the procedures of creating receivables - quoting, credit control, order processing and invoicing. There will be significant focus on receivables asset management areas such as portfolio strategies, collection process, deduction processing, account maintenance and payment processing. IT skills required for receivables would be discussed and participants will be trained on software for producing management reports.

Methodology

The programme will be delivered using formal lectures combined with practical and interactive case studies and exercises. There will be a great emphasis on gaining practical experiences.

Contents of Training:

Session One:
Understanding Working Capital and Accounts Receivables

1. Introduction to working capital management
2. Receivables as part of working capital
3. Understanding the Importance of Managing Accounts Receivables
4. Accounting treatments
5. Case Study on Working Capital Management

Session Two
Receivables Administration and Management

Receivables Antecedents - Steps in Creating Accounts Receivables
Overview, Best Practices and Key Points of -
- Quotation
- Contract Administration
- Pricing Administration
- Credit Controls
- Order Processing
- Invoicing

Introduction to Receivables Management
Portfolio Strategy
Collection and deduction process
Late payment fees and prompt payment discounts
Dispute management
Accounts Maintenances and Payment Processing

Session Three
Receivables Management in Technology Context

Database and Spreadsheet skills required for managing receivables
Understanding the major deficiency of technology
Popular receivables management packages
Introduction to Invoice Expert XE Light
Acquisition Integration and ERP Implementation

Session Four
Producing Management Reports on Receivables

Understanding and producing common reports
Receivables Ageing Report
Sales by Job Categories/sales persons
Generating Customer Statements
Customers over their credit limit
Customers with declining/increasing monthly sales
Customers with Overdue accounts
Graphical presentation and creating dashboard

Session Five
Review, Assessment and Evaluation

Review and summary
Assessing achievements of learning outcome
Mini test on each areas of the workshop
Course Evaluation

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Contact

9140345, 9117179

workshop@bdjobs.com

Bdjobs.com Ltd.

19 th floor (East), BDBL Building (Old BSRS)
12 Karwan Bazaar
Dhaka - 1215

Professionals working in receivables management
Other accounting professionals
Strategic managers who¡¦re dealing with or implementing AIS or RMS
Potential receivables management professionals
University students having knack on professional accounting practices


"The workshop is excellent and it is very useful for me. I would like to attend such type of workshop in future" Sarowar Alam
Training was satisfactory. Trainer knowledge & style was attractive - Zarrin Tasnim Khan, Axiata Bangladesh Ltd.