Accounts Receivable and Payable Best Practices

Introduction

This 10-day Accounts Receivable and Payable Best Practices training course will provide a leading edge forum for you to significantly improve your working capital management skills. You will gain a comprehensive range of very practical and highly effective tools and approaches that can be immediately implemented upon your return to work.

By attending this GLOMACS Accounts Receivable and Payable Best Practices training course, delegates will understand:

• The importance of credit to the company and the economy
• The “cost of credit” and its impact on company profitability
• Practical steps that reduce bad debt losses and “uncollectible” debtors
• How to use different tools and techniques to maximize cash collection effort
• How to effectively manage cash and working capital to reduce costs and improve cash flow
• How leading companies from across the globe are achieving best practice in Accounts Receivable
• The importance of the accounts payable function with regard to its links with the supply chain and cash flow
• The integrated systems of purchase order processing, stock (inventory) control, purchase ledger and cash payments and their links with the general ledger
• How to effectively manage cash and working capital to reduce costs and improve cash flow
• The impact of risk and uncertainty on the business and its impact on accounts payable and cash flow
• How leading companies from across the globe are achieving best practice in accounts payable

Modules

This training course is split into the following modules:

Module I - Accounts Receivable

Module II - Accounts Payable

Objectives

• Work effectively with the fundamentals of accounts payable, accounts receivable, financial accounting and the supply chain
• Understand and apply the fundamentals of effective transactional management systems
• Review and comment on payment methods and cash management
• Understand the need to incorporate risk and uncertainty into transactional processing and cashflow management
• Identify best practice across all industries by examining case studies from across the globe

Training Methodology

The instructor engages all of the delegates, both in the presentation of the material and the training course sessions, so that everyone leaves with a working knowledge of the material and the ability to use them immediately.