Online Class: Accounts Receivable Training

This AR course will be covering many important topics such as 1. approving credit, 2. the billing process, 3. collecting money, 4. customer service, 5. handling deductions, 6. legal considerations, and 7. bankruptcy.

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$120.00 (with CEU Certificate)
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  • 9
    Lessons
  • 11
    Exams &
    Assignments
  • 4,546
    Students
    have taken this course
  • 5
    Hours
    average time
  • 0.5
    CEUs
 
 
 

Course Description

Mastering Accounts Receivable: A Comprehensive Guide to Financial Success

In today's fast-paced business world, managing Accounts Receivable (AR) is not just a task but an essential cornerstone of an organization's financial health. As an AR manager, you'll be entrusted with decisions that influence a company's liquidity, customer relations, and, ultimately, its prosperity. The role is intricate, multifaceted, and ties intimately with the organization's overarching customer service objective.

Course Overview:

Our comprehensive course has been meticulously designed to cater to both novices and those desiring to refine their AR management skills. Beginning with the foundational concepts, this program delves into the intricate nuances of AR, ensuring that participants gain an in-depth understanding of the subject.

Here's a snapshot of the journey you'll embark upon:

  1. Understanding the Role: Unravel what AR truly signifies and comprehend its pivotal role in a company's financial structure.
  2. Credit Approval: Grasp the intricacies of assessing customer creditworthiness, a pivotal step to minimize risks.
  3. Billing and Collections: Navigate through the systematic process of billing and explore efficient strategies to collect dues timely, maintaining a healthy cash flow.
  4. Customer Service Excellence: Discover how AR interfaces with customer service, ensuring smooth transactions and building lasting customer relations.
  5. Deduction Handling & Security Interests: Understand the dynamics of handling discrepancies, utilizing letters of credit, and other financial instruments.
  6. Navigating the Legal Landscape: Delve into the legalities surrounding credit, ensuring adherence to regulations and protecting the company's interests.
  7. Bankruptcy: Equip yourself with knowledge about bankruptcy procedures and its implications on AR.
  8. Technological Integration: Understand the evolving technological tools that can streamline and enhance AR processes, optimizing efficiency.

Why Opt for This Course?

Companies, irrespective of their industry or size, necessitate an efficient AR department. Why? Because cash flow, stemming predominantly from accounts receivable, fuels an organization's operations, expansions, and innovations. In 2020, a survey revealed that businesses in the US had an average of 27.6% of monthly revenue tied up in outstanding invoices. This highlights the pressing need for adept AR managers capable of steering companies towards financial success.

Novices Welcome!

Whether you're taking your first step into the corporate world or an experienced professional aspiring for expertise in AR management, this course is tailored for you. With its 'ground-up' approach, it sequentially unravels every topic, ensuring clarity, comprehension, and application.

Course Structure Highlights:

  • Accounts Receivable Manager: Establish a foundational understanding of the role, responsibilities, and its significance in the organizational framework.
  • Approving the Credit: Diving into real-world examples, learn the art of assessing and approving credit, minimizing financial risks.
  • The Process of Billing & Collecting Money: Explore systematic procedures, from invoice generation to ensuring timely collections.
  • Customer Service & Internal Controls: Understand how AR plays a pivotal role in enhancing customer satisfaction and trust.
  • Handling Deductions & Security Interests: Grasp the nuances of discrepancies, financial instruments, and their strategic application.
  • Legal Considerations: Navigate the legal maze surrounding AR, ensuring regulatory compliance and minimizing disputes.
  • Bankruptcy: Delve deep into bankruptcy procedures, equipping yourself to handle such scenarios adeptly.
  • Tech in AR: Explore the integration of cutting-edge technology, optimizing AR operations and enhancing efficiency.

In essence, this course offers a holistic exploration of Accounts Receivable management, preparing you to play a pivotal role in your organization's financial success. Dive into this immersive learning journey and steer towards a rewarding career in AR management. Join us today and pave the way for your bright future!

Course Motivation

Do you have a natural aptitude for "crunching numbers?"

Do financial statements, annual reports and invoicing policies just somehow make sense to you?

Or perhaps you've recognized some room for improvement in your Accounts Receivable Management skills and experience?

If any of these situations sounds familiar to you, then this course on the ins and outs of accounts receivable management may be just what you need in order to get things all squared away.

Be warned though--you're in for a demanding job. As a part of your company's accounts receivable management team, you'll be responsible for making decisions that have the potential to make your break your bottom line. Enrolling in this class can make navigating those decisions successfully a whole lot easier.
Along the way, you'll gain a clearer understanding of the class's five basic objectives:
  • A comprehensive knowledge of what Accounts Receivable is
  • The duties the job entails
  • The information you'll need before you can get started
  • The needs an accounts receivable department meets within an organization
  • Plus, the keys to managing a successful accounts receivable department

While the structure of the course assumes that you have at least some type of experience in the accounts receivable arena, you can still succeed in the class without AR or management experience.

The class follows a self-paced, self-contained format that gives you the freedom to learn and participate when (and only when) your schedule permits. There are no textbooks or software programs REQUIRED for course enrollment, but there is a recommended reading list for those in search of a deeper understanding of the subject matter.

Enroll today to bring more value to your career and your company!

  • Completely Online
  • Self-Paced
  • Printable Lessons
  • Full HD Video  
  • 6 Months to Complete
  • 24/7 Availability
  • Start Anytime
  • PC & Mac Compatible
  • Android & iOS Friendly
  • Accredited CEUs
Universal Class is an IACET Accredited Provider
 
 

Course Lessons

Average Lesson Rating:
4.27 / 5 Stars (Average Rating)
"Extraordinarily Helpful"
(2,608 votes)

Accounts Receivable Manager

101 Points
This lesson is designed for the new manager, so the assumption is made that you have not worked as a manager, although you may be management material.
  • Lesson 1 Video
  • Lesson discussions: Accounts Payable Manager; Reasons for Taking this Course
  • Complete Assignment: My A/R experience
  • Assessment: Lesson 1 Exam: AR Manager

Approving the Credit

82 Points
In this lesson, we are going to look at the very beginning of the credit and receivables process: the process of approving credit.
  • Lesson 2 Video
  • Complete Assignment: Credits
  • Assessment: Lesson 2 Exam: Credits

The Process of Billing

100 Points
Billing your customer is a way to keep in contact with them to remind them to pay. In this lesson, we will look at an ideal billing procedure, and we will prepare you for some challenges you might face.
  • Lesson 3 Video
  • Assessment: Lesson 3 Exam: The Process of Billing

The Process of Collecting the Money

100 Points
In this lesson, we will look at the collection process step by step. We will look at how you can manage phone calls, show you how to overcome each of the most common excuses a customer can give you, and look at how you can motivate a customer to pay.
  • Lesson 4 Video
  • Assessment: Lesson 4 Exam: The Process of Collecting the Money

Customer Service, Internal Controls and the Annual Audit

80 Points
In this lesson, we are going to look at three areas where you will need to have your finger on the pulse of your company: customer service, internal controls to prevent error and theft, and the company audit.
  • Lesson 5 Video
  • Assessment: Lesson 5 Exam: Customer service, internal controls and the annual audit

Handling Deduction Issues, Letters of Credit, and Other Security Interests

80 Points
During your tenure as an accounts receivable manager, you will find there are higher level issues to deal with than when you were a clerk in the same department. Three of these issues are discussed here and how you can manage them.
  • Lesson 6 Video
  • Assessment: Lesson 6 Exam: Handling Deduction Issues, Letters of Credit and other Security Interests

Legal Considerations Surrounding Credit

80 Points
There are some legal considerations surrounding the credit and collection industry. One obvious one that we will not even go into here is that violence is not an alternative to legal collections methods. There are, however, several other areas where it co
  • Lesson 7 Video
  • Assessment: Lesson 7 Exam: Legal Considerations Surrounding Credit

Bankruptcy

100 Points
Our economic system gives us an opportunity to "reset" our financial situation if it ever gets out of hand. As consumers, it is nice to have that safety valve, especially to deal with circumstances beyond our control.
  • Lesson 8 Video
  • Assessment: Lesson 8 Exam: Bankruptcy

The Use of Technology in the Credit and Collections Agency

80 Points
Technology can be a good thing in some businesses and a bad thing in others. In the credit and collections world, technology is very useful.
  • Lesson 9 Video
  • Lesson discussions: How would you rate this course?; Program Evaluation Follow-up Survey (End of Course); Course Comments
  • Assessment: Lesson 9 Exam: The Use of Technology in the Credit and Collections agency
803
Total Course Points
 

Learning Outcomes

By successfully completing this course, students will be able to:
  • Identify the role and job responsibilities of an Accounts Receivable Manager.
  • Approve credit for the right customers.
  • Outline the process of billing customers.
  • Outline the processes of collecting money.
  • Summarize the need for quality customer service as well as place internal controls.
  • Handle deduction issues, Letters of Credit and other security interests.
  • Summarize legal considerations surrounding credit.
  • Deal with bankruptcy.
  • Use technology in the Credit and Collections process.
  • Demonstrate mastery of lesson content at levels of 70% or higher.
 

Additional Course Information

Online CEU Certificate
  • Document Your Lifelong Learning Achievements
  • Earn an Official Certificate Documenting Course Hours and CEUs
  • Verify Your Certificate with a Unique Serial Number Online
  • View and Share Your Certificate Online or Download/Print as PDF
  • Display Your Certificate on Your Resume and Promote Your Achievements Using Social Media
Document Your CEUs on Your Resume
 
Course Title: Accounts Receivable Training
Course Number: 31060
Lessons Rating: 4.27 / 5 Stars (2,608 votes)
Languages: English - United States, Canada and other English speaking countries
Availability: This course is accessible online throughout all states, including California, Texas, Florida, New York, Pennsylvania, Illinois, Ohio, and Georgia. It's also available in top English-speaking countries like the United Kingdom, Canada, Australia, and New Zealand.
Last Updated: June 2024
Course Type: Self-Paced, Online Class
CEU Value: 0.5 IACET CEUs (Continuing Education Units)
CE Accreditation: Universal Class, Inc. has been accredited as an Authorized Provider by the International Association for Continuing Education and Training (IACET).
Grading Policy: Earn a final grade of 70% or higher to receive an online/downloadable CEU Certification documenting CEUs earned.
Assessment Method: Lesson assignments and review exams
Instructor: Linda Zavadil
Syllabus: View Syllabus
Course Fee: $120.00 U.S. dollars

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Student Testimonials

  • "The course was very easy to understand and relatable." -- Anna N.
  • "Thank you for your time and efforts to help me further my education!" -- Chelsea T.
  • "Overall, this course was a good building block to add to my accounting and bookkeeping foundation." -- Jennifer S.
  • "Excellent." -- Maribel D.
  • "Details on the role of the manager were very helpful as were the "True Accounts."" -- Ann R.
  • "The instructor did a great job and was very fast in answering my questions. I am taking another course and hope I get the same instructor." -- Doris M.
  • "I did get a better insight of how to manage Accounts Receivable." -- Doris M.
  • "GREAT CORSE AND INSTRUCTOR." -- Jack D.
  • "It was a very good course to brush up on my skills." -- KayJean R.
  • "I learned so much in these lessons." -- Sylvia T.