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

Introduction

Accounts Receivable is where the all the sales you made turn into actual funds and cash in the business.  As such, it is a very important part of any company, and a solid understanding of the accounts receivable function is very important.  Increase your accounts receivable turnover, collect funds quicker and put in place the best practices in the industry. 

In this course we will learn the basics of accounts receivable, the accounts receivable cycle the best practices that should be used, fraud prevention, collection methods and long-term relationship

Objectives:

• Define the function of Accounts Receivable (AR) and its role in organizations.
• Run the Accounts Receivable process more efficiently.
• Apply tools and techniques to effectively monitor AR performance.
• Develop effective credit policies that meet company's objectives.

The Content:

Day One:

Credit Policies Management

• Setting Credit Policies
• Approving the Credit
• Developing Credit Controls
• The Need for Accounts Receivable
• The Level of Accounts Receivable Companies Should Have

Day Two:

The Billing Process

• Efficient Billing Process Means Faster Collection
• Preventing the Fatal Mistake: Sending the Bill with Errors
• The Use of Technology

Day Three:

Collection of Money

• Cash: It's Worth your Efforts
• Techniques for Faster Collection
• Payment Processing Options
• Letter of Credit ( LC )
• Cash against documents 
•  Cheque

Day Four:

The Relationship with customers

• Developing Good Working Relationships Between the Two Departments
• Involving Sales in the Collection Effort
• Payments status information to vendor
•  Communication with internal customers 

Day Five:

Accounts Receivable Process Analysis

• Best Practices in Accounts Receivable (AR)
• AR Process Improvement
• Improving Quality of Accounts Receivable
• Aging of Accounts Receivable and Bad Debts Reserves
• Alternatives in Computing Bad Debt
• Reducing Bad Debt Write-Offs
• Calculating Accounts Receivable Turnover
• Calculating Days Sales Outstanding (DSO)
• Collection Effectiveness Index (CEI)
• Analyzing the Operating and Cash Cycle

 General Notes

·        All our courses can be Tailor-made to participants needs

·        The participant must be conversant with English

·        Presentations are well guided, practical exercise, web based tutorials and group work. Our facilitators are expert with more than 10years of experience.

·        Upon completion of training the participant will be issued with Foscore development center certificate (FDC-K)

·        Training will be done at Foscore development center (FDC-K) center in Nairobi Kenya. We also offer more than five participants training at requested location within Kenya, more than ten participant within east Africa and more than twenty participant all over the world.

·        Course duration is flexible and the contents can be modified to fit any number of days.

·        The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and a Certificate of successful completion of Training. Participants will be responsible for their own travel expenses and arrangements, airport transfers, visa application dinners, health/accident insurance and other personal expenses.

·        Accommodation, pickup, freight booking and Visa processing arrangement, are done on request, at discounted prices.

·        One year free Consultation and Coaching provided after the course.

·        Register as a group of more than two and enjoy discount of (10% to 50%) plus free five hour adventure drive to the National game park.

·        Payment should be done two week before commence of the training, to FOSCORE DEVELOPMENT CENTER account, so as to enable us prepare better for you.

·        For any enquiry to: training@fdc-k.org or +254712260031