Format: Live instructor-led online training via Zoom / Microsoft Teams

Course Overview

Effective accounts receivable and payable management is essential for maintaining a healthy cash flow and ensuring the financial stability of any organization. This comprehensive course equips professionals with the necessary skills to efficiently manage invoicing, collections, credit policies, supplier payments, and cash flow optimization. Participants will learn the best practices in accounts reconciliation, aging reports, credit risk assessment, and automation of financial transactions to streamline operations.

The course covers key concepts such as accounts receivable turnover, days sales outstanding (DSO), early payment discounts, vendor negotiations, and payment processing. It also explores strategies to reduce bad debts, improve working capital management, and enhance supplier relationships. Participants will gain insights into financial regulations, internal controls, and fraud prevention measures to safeguard company assets and maintain compliance with accounting standards.

Through practical case studies, participants will learn how to analyze financial statements, manage overdue accounts, implement effective collection strategies, and optimize payment schedules. They will also explore the latest technologies, including ERP systems and automation tools, to enhance efficiency in accounts payable and receivable processes.

By the end of this course, professionals will be equipped with practical skills, analytical techniques, and strategic approaches to ensure a well-balanced financial management system that enhances business sustainability and profitability.

Course Objectives

By the end of this training, participants will be able to:

1. Understand the fundamentals of accounts receivable and payable management.
2. Implement effective credit policies and payment terms to optimize cash flow.
3. Develop strategies to reduce bad debts and improve collections.
4. Learn supplier payment negotiation techniques to enhance financial efficiency.
5. Manage invoice processing, reconciliation, and reporting.
6. Analyze aging reports and cash flow forecasting for better decision-making.
7. Automate accounts receivable and payable functions using digital tools.
8. Mitigate risks associated with fraud, errors, and late payments.
9. Ensure compliance with financial regulations and corporate governance.
10. Optimize working capital management for business growth and sustainability.

Organizational Benefits

Organizations that invest in this training will experience:

1. Improved cash flow management and financial planning.
2. Reduced bad debts and overdue accounts through strategic collections.
3. Enhanced supplier relationships by optimizing payment terms.
4. Increased efficiency and accuracy in financial transactions.
5. Strengthened internal controls to prevent fraud and errors.
6. Compliance with accounting standards and financial regulations.
7. Enhanced ability to forecast and manage financial risks.
8. Streamlined operations through automation of financial processes.
9. Better decision-making through accurate financial reporting.
10. Improved profitability and business growth through efficient financial management.

Target Participants

This course is ideal for:

• Finance Managers and Accountants responsible for receivables and payables.
• Credit and Collections Officers handling customer payments and credit policies.
• Accounts Payable/Receivable Specialists looking to enhance efficiency.
• Treasury and Cash Management Professionals managing financial transactions.
• Business Owners and Entrepreneurs aiming to improve cash flow management.
• Procurement and Supply Chain Managers dealing with supplier payments.
• Auditors and Compliance Officers ensuring financial accuracy and compliance.
• Financial Analysts and Controllers analyzing financial health and risks.
• ERP System Users handling automated accounts payable and receivable.
• Anyone responsible for financial operations and payment processes.

Course Outline

Module 1: Fundamentals of Accounts Receivable and Payable Management

1. Introduction to financial management in receivables and payables.
2. Understanding working capital and its impact on cash flow.
3. Roles and responsibilities of accounts receivable and payable departments.
4. Key financial metrics: DSO, DPO, and cash conversion cycle.
5. Importance of internal controls and compliance in financial transactions.
6. Case study: Managing financial operations in a growing business.

Module 2: Accounts Receivable Management

1. Understanding credit policies and customer risk assessment.
2. Invoicing best practices for timely payments and reduced disputes.
3. Collection strategies: Early payment discounts, follow-ups, and escalation.
4. Managing overdue accounts and bad debt prevention techniques.
5. Using aging reports and financial forecasting for receivables.
6. Case study: How a company improved collections and reduced overdue accounts.

Module 3: Accounts Payable Management

1. Understanding supplier payment terms and negotiation strategies.
2. Efficient invoice processing and payment scheduling.
3. Managing early payment discounts and late payment penalties.
4. Accounts payable fraud prevention and internal controls.
5. Impact of cash flow on supplier relationships and business operations.
6. Case study: How a company optimized supplier payments to improve cash flow.

Module 4: Financial Risk Management and Compliance

1. Identifying risks in accounts receivable and payable operations.
2. Fraud detection and internal control measures.
3. Ensuring compliance with IFRS, GAAP, and other financial regulations.
4. Impact of tax laws and reporting requirements on financial transactions.
5. Managing foreign exchange risks in international transactions.
6. Case study: A business overcoming fraud risks and financial non-compliance.

Module 5: Automation and Technology in AR & AP Management

1. The role of ERP systems in financial process automation.
2. Using AI and machine learning for predictive analytics in accounts management.
3. Benefits of e-invoicing and digital payment platforms.
4. Implementing paperless workflows for financial transactions.
5. Cybersecurity considerations in financial data protection.
6. Case study: How automation transformed financial operations in a company.

Module 6: Strategic Financial Decision-Making

1. Developing financial strategies for sustainable cash flow management.
2. Improving profitability through better accounts management.
3. Analyzing financial reports for strategic decision-making.
4. Forecasting cash flows and managing liquidity risks.
5. The role of financial planning in business growth and expansion.
6. Case study: A business achieving financial stability through strategic planning.

General Information

1. Customized Training: All our courses can be tailored to meet the specific needs of participants.
2. Language Proficiency: Participants should have a good command of the English language.
3. Comprehensive Learning: Our training includes well-structured presentations, practical exercises, web-based tutorials, and collaborative group work. Our facilitators are seasoned experts with over a decade of experience.
4. Certification: Upon successful completion of training, participants will receive a certificate from Foscore Development Center (FDC-K).
5. Training Locations: Training sessions are conducted at Foscore Development Center (FDC-K) centers. We also offer options for in-house and online training, customized to the client's schedule.
6. Flexible Duration: Course durations are adaptable, and content can be adjusted to fit the required number of days.
7. Onsite Training Inclusions: The course fee for onsite training covers facilitation, training materials, two coffee breaks, a buffet lunch, and a Certificate of Successful Completion. Participants are responsible for their travel expenses, airport transfers, visa applications, dinners, health/accident insurance, and personal expenses.
8. Additional Services: Accommodation, pickup services, freight booking, and visa processing arrangements are available upon request at discounted rates.
9. Equipment: Tablets and laptops can be provided to participants at an additional cost.
10. Post-Training Support: We offer one year of free consultation and coaching after the course.
11. Group Discounts: Register as a group of more than two and enjoy a discount ranging from 10% to 50%.
12. Payment Terms: Payment should be made before the commencement of the training or as mutually agreed upon, to the Foscore Development Center account. This ensures better preparation for your training.
13. Contact Us: For any inquiries, please reach out to us at training@fdc-k.org or call us at +254712260031.
14. Website: Visit our website at www.fdc-k.org for more information.