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 Managing the Cash Cycle Accounts Receivable amp Payable Best Practices F1337 QR Code
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Managing the Cash Cycle Accounts Receivable & Payable Best Practices



This program will provide a leading-edge forum for you to significantly improve your working capital management skills. You will gain a comprehensive range of very practical and highly effective tools and approaches that can be immediately implemented upon your return to work.

Course Objectives:

At the end of this course the participants will be able to:

  • Work effectively with the fundamentals of accounts payable, accounts receivable, financial accounting, and the supply chain
  • Understand and apply the fundamentals of effective transactional management systems
  • Review and comment on payment methods and cash management
  • Understand the need to incorporate risk and uncertainty into transactional processing and cash flow management
  • Identify best practice across all industries by examining case studies from across the globe

Targeted Audience:

  • Finance Executives
  • Accountants
  • Others who are working within Transactional Finance, Accounts Payable or Accounts Receivable process or who wish to develop a practical toolkit to complement their existing professional or technical skills

Course Outlines:

Unit 1: An introduction to Accounts Receivable:

  • Working Capital and Cash Management
  • Understanding “the cost of credit”
  • The ‘order to cash’ process
  • Understanding “risk” in “credit”
  • Accounts Receivable and effective customer service
  • Identifying underperforming areas to increase customer satisfaction

Unit 2: Customers and Trading Terms:

  • Terms of trading
  • Tools and techniques of financial analysis: ratios; trends; common size analysis
  • The best performance measure – cash or profit?
  • Financial distress and the Altman’s Z score-type analyses
  • Trend analysis
  • Value-added analysis of the financial statement

Unit 3: Developing Effective Strategies To Maximize Cash Collection:

  • Identifying effective “pre-delinquency” collection campaigns
  • Defining “post-delinquency” activities
  • Customer sensitive collection strategies
  • Collection techniques and letter cycles
  • Appropriate internal and external escalation steps
  • Using workflow management to maximize collector performance

Unit 4: Practical Collection Tools and Techniques:

  • Eliminating barriers to payment
  • Recognizing excuses and delaying tactics
  • Providing solutions to non-payment
  • Telephone collection techniques
  • Negotiation skills for successful collections
  • Building relationships with customers

Unit 5: Managing the Receivables Ledger:

  • Developing effective internal relationships to maximize performance
  • Setting targets and tracking performance
  • Managing information that dazzles
  • Defining meaningful KPI’s
  • Latest Developments in Accounts Receivable

Unit 6:  Accounts Payable, Financial Accounting, and the Supply Chain:

  • Accounting and financial information: Accounts Payable in context
  • Sources of finance
  • The supply chain
  • Financial position and financial performance
  • Cash flow and Working Capital
  • Why is cash flow so important?

Unit 7: Achieving World Class in Accounts Payable Processes:

  • Defining Best Practice in AP
  • Moving beyond P2P
  • Managing Risk
  • Principles of Best Practice
  • End to End AP Process
  • Defining the issues in Accounts Payable

Unit 8:  Improving Invoice Processing and Operational Management:

  • Invoice Handling and Approval Processes
  • Verifying invoice data
  • Paying “low value” items
  • How to avoid duplicate payments
  • Making the best use of staff time: limiting telephone calls to AP
  • Does Petty cash management belong in Accounts Payable?

Unit 9: Harnessing Technology in Accounts Payable Processes:

  • Master Vendor File Management – getting it right from the start
  • Travel & Entertainment
  • Policy management
  • Cash advances and employee reimbursement
  • Process improvement through imaging and workflow
  • Using the internet for AP effectiveness

Unit 10: Making the Payments and Maintaining the Relationships:

  • Communications & Customer Relations
  • Payments status information for vendors and internal customers
  • Improving Procure to Pay(P2P)Cycle
  • Payments and Payment Solutions: Accounts Payable or Treasury?

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