Accounts Receivable Management

Overview

This business administration course draws on accounting principles to help you understand the concept of accounts receivable (AR). It starts with explanations of the importance of accounts receivable management. We go through the terminology used in accounts receivable, the accounts receivable process flow and its significance to working capital management. Credit policies and procedures are essential for any business hoping to manage its cash flow and reduce the risk of bad debt. The course explains how to establish credit policies and emphasises the importance of continuous credit evaluation, credit assessment and risk analysis.

Accurate and timely billing is critical for maintaining positive relationships with clients and ensuring the financial health of a business. We discuss various aspects of billing and invoicing, including accurate billing practices, electronic invoicing, invoice dispute resolution, sales tax compliance and the importance of maintaining updated customer information. The course also explores the process of collecting payments from customers who owe money for goods or services.

Cash application and reconciliation involves identifying and matching payments received to the corresponding invoices in the accounting system. We discuss the importance of these processes and show you how to automate them to improve efficiency and accuracy. Our final section helps you understand the latest technologies and trends in AR management. Sign up for this course to learn more about accounts receivable management and its important role in driving business growth.