Accounts Receivable Best Practices for Small to Medium Sized Commercial Entities

Managing accounts receivable is a vital aspect of ensuring a company’s financial stability, yet it often presents a myriad of challenges for small to medium commercial entities. Accounts Receivable Best Practices for Small to Medium Sized Commercial Entities addresses the critical task of optimizing the accounts receivable process, a key element often likened to the lifeblood of a business. This accounts receivable best practices course examines the common issues faced in invoicing, pricing, and credit management, underscoring the mantra that a sale isn’t complete until the money is collected. The solution lies in a comprehensive review of best practices in accounts receivable management. Participants will explore effective strategies in billing, pricing, and credit memo processes, delve into robust customer credit evaluation techniques, and learn how to use tools like the Altman Z Score for customer assessment. The accounts receivable best practices course also covers innovative methods to secure customer payment when traditional credit is too risky and examines best practices in collection functions, account reconciliation, payment application, internal controls, and the utilization of modern banking technology. This course is indispensable for professionals striving to enhance their organization’s financial health through efficient accounts receivable management.