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!

  • 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
 

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.
 
 

Assessment Guide

Assessment Points
My A/R experience 1 points
Lesson 1 Exam: AR Manager 100 points
Credits 2 points
Lesson 2 Exam: Credits 80 points
Lesson 3 Exam: The Process of Billing 100 points
Lesson 4 Exam: The Process of Collecting the Money 100 points
Lesson 5 Exam: Customer service, internal controls and the annual audit 80 points
Lesson 6 Exam: Handling Deduction Issues, Letters of Credit and other Security Interests 80 points
Lesson 7 Exam: Legal Considerations Surrounding Credit 80 points
Lesson 8 Exam: Bankruptcy 100 points
Lesson 9 Exam: The Use of Technology in the Credit and Collections agency 80 points
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