Account Payable, Account Receivable and Debt recovery management course.
Training by
Learnway Africa
Inquire Now
On-Site
/ Training
Apr 22, 2024 - Apr 26, 2024
NGN 190,000.00
Details
An organization wins by effectively managing its Accounts Payables. Not paying attention to payments due to vendors and employees can destroy critical vendor and labour relationships, costing the firm not just money, but reputation.
In this course, participants will be exposed to how A/P which is regarded as a cost centre can be turned into a profit centre while optimizing working capital usage. Similarly making credit sales and services without turning them into cash within expected payment period can make an organization go bankrupt. Accounts Payable (AP) and Accounts Receivable (AR) management can make your business cash flow run smoothly if managed optimally. The participants will learn the various techniques for managing Accounts Payable, Accounts Receivable and Debt management.
In this course, participants will be exposed to how A/P which is regarded as a cost centre can be turned into a profit centre while optimizing working capital usage. Similarly making credit sales and services without turning them into cash within expected payment period can make an organization go bankrupt. Accounts Payable (AP) and Accounts Receivable (AR) management can make your business cash flow run smoothly if managed optimally. The participants will learn the various techniques for managing Accounts Payable, Accounts Receivable and Debt management.
Learning Objectives
At the end of the 5-day course, participants should be able to:
- Define Accounts payable, Accounts Receivable and Debt management.
- Know the importance of use Accounts payable to improve cash flow management
- Know the importance of the use of Accounts Receivable to increase sales and profitability
- Know how to simplify your Account Payable and Account Receivable process
- Know how to transform a cost centre as Accounts payable to a profit centre
Understand how to use dynamic discounting optimally
- Know how to design for management or board approval credit policy
- Understand the psychology of your customers/ client for decision making
- Determine the ability of your debtors to continually meet their obligations
- Assess when to suspend credit, extend credit or cancel credit.
- Know how to collect Debt without firing a shot.
Outline
Course Outline
Day1:
The important role of AP
Accounting essentials for accounts payable
Day1:
The important role of AP
- The meaning of managing accounts payable
- The functions of management
- The big picture: accounts payable and the financial health of organizations
- The functions of the accounts payable department and the role of AP staff
- Accounts payable impact on working capital and cash management
Accounting essentials for accounts payable
- Accounts payable terminologies
- Preparing for month-end close and accruals
- Invoice handling and routing
- The three-way matching
- Methods of payment processing
- Maintaining the vendor master file
- Travel and Entertainment (T&E)
- Procurement Cards (P-Cards)
- Electronic payment options
- Key topics in accounts payable management
- The behavioural side of managing accounts payable department
- Improving the image of the AP department
- Providing customer service to vendors
- Accounts payable department as a real business partner
- 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
- Debt recovery process
- Measures for reducing bad debt
- Effective Debit Colleaction Strategies
- Challenges Impacting Debt Collection Operations
- Effective Credit Policy and its Components
- Action Plan/Closing Cermony/Networking/Departure
Speaker/s
Members of Faculty
Special Offer
10% discount on five or more participants.
Schedules
Apr 22, 2024 - Apr 26, 2024
| Weekdays | 10:00 AM — 04:00 PM |
May 06, 2024 - May 10, 2024
| Weekdays | 10:00 AM — 04:00 PM |
Jun 10, 2024 - Jun 14, 2024
| Weekdays | 10:00 AM — 04:00 PM |
Jul 22, 2024 - Jul 26, 2024
| Weekdays | 10:00 AM — 04:00 PM |
Aug 05, 2024 - Aug 09, 2024
| Weekdays | 10:00 AM — 04:00 PM |
Sep 09, 2024 - Sep 13, 2024
| Weekdays | 10:00 AM — 04:00 PM |
Oct 07, 2024 - Oct 11, 2024
| Weekdays | 10:00 AM — 04:00 PM |
Nov 04, 2024 - Nov 08, 2024
| Weekdays | 10:00 AM — 04:00 PM |
Dec 02, 2024 - Dec 06, 2024
| Weekdays | 10:00 AM — 04:00 PM |
| No. of Days: | 5 |
| Total Hours: | 6 |
Reviews
Be the first to write a review about this course.
Write a Review
Learnway Africa is poised to deliver executive learning and development courses to our partners for capacity building and organizational development. At Learnway Africa, we work with our partners through a wide range of capacity development choices, tailored to the needs of our partners and targeting different levels of change at individual, organizational, systems and environmental levels
Related Courses
Alpha Partners Training
AM - AKEMSON KONSULT
Upskill Development Institute
Alpha Partners Training
