Accounts Receivable Best Practices for Small to Medium Sized Commercial Entities
If a company’s existence is measured by revenue, then its life blood must be how well it manages accounts receivable. Many business executives say that a sale isn’t a sale until the money has been collected.

This course examines best practices in accounts receivable management. Accounts receivable management is associated with both credit and collections. These important functional areas work with sales as well as treasury and bank vendors to ensure the maximum realization of cash from sales revenue.

While a good credit function holds the key to “safe sales”, those sales for which you will be paid, the best accounts receivable management will also find a way to take riskier sales and minimize that risk wherever possible through credit insurance or other arrangements. Best practices dictate that sales and accounts receivable work hand-in-hand to maximize good sales opportunities, ensure that order processing and invoicing is controlled and timely and that pricing is up-to-date and accurate.

A properly managed accounts receivable function also has significant impact on the organization’s overall cash flow. Best practices dictate that accounts receivable management ensures that there are diverse customer payment methods available, payments are processed timely and accurately and the process is controlled to ensure that all amounts due are timely paid.

This course explores each functional area, starting with the sales function, and the best practices that relate to accounts receivable management. Credit and collections will each be discussed followed by accounts receivable management administrative best practices, which will include portfolio review, internal controls and payment application. Banking best practices as they relate to accounts receivable management will be explored last.

Course Publication Date: March 30, 2017

This course is available with NO ADDITIONAL FEE if you have an active self study membership or can be purchased for $25.00!

Author:Mill Creek Publishing
Course No:ACT-ACTREC-2037
Recommended CPE:2.50
Delivery Method:QAS Self Study
Level of Knowledge:Overview
Prerequisites:None
Advanced Preparation:None
Recommended Field of Study:Accounting
  
Add To Your Cart

Ready to take a course?

  • Includes all self study courses
  • Earn as many CPE credit as you need
  • 100% Guaranteed
Buy Self Study Membership

Learning Objectives
  • Associate the importance of the billing, pricing and credit memo process to accounts receivable best practices.
  • Differentiate customer credit evaluation techniques.
  • Define and use the Altman Z score and other ratios in evaluating customers.
  • Recognize non-traditional methods to secure customer payment.
  • Recognize best practices of the collection function.
  • Associate the importance of internal controls with the payment application function.

CPE Depot Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Sponsor Number: 109423

 (637ms)
CPE-WEB02 54.198.106.21 url(WWW.CPEDEPOT.COM)-domain(WWW.CPEDEPOT.COM)-anon

Search Courses

Group Plan

Group plans are convenient and cost effective!

Authors Wanted

We are looking for authors!