Accounts Receivables and Payables Best Practices

There is famous quotation that business can survive without profits but business can’t survive without cash. So, Working capital management is one of integral part of strategic decisions of the business. Effective and efficient management of accounts receivable and accounts payable is major faction of working capital department. The objective of this training is to enhance the ability of the trainees particularly and finance department generally to design the strategy effectively for the accounts payable and accounts receivable management.

Course Outline
  • Importance of accounts receivable effective management.
  • What are common risks of accounts receivables?
  • Strategies to manage accounts receivable effectively:
    • Four dimensions of accounts receivable strategy
    • Centralized accounts receivable processing and reporting
    • Automation
    • Adaptation of strong governance practices
    • Setting up customers portals
    • Strengthening credit approval process
    • Strengthening collection process
    • Accounting cycle and financial statements relationship
  • Accounts Receivable department functions:
    • Designing of credit policy
    • Customer credit approval process
    • Customers master data set-up process
    • Contractual review process
    • Delivery process
  • Importance of accounts payable effective management.
  • What are common risks of accounts payables?
  • Strategies to manage accounts payables effectively:
    • Centralizing accounts payable processing and reporting
    • Moving towards a paperless processing environment
    • Adopting more robust governance practices
    • Setting up supplier portals
    • Creating management workflows
    • Strengthening purchasing approval processes
    • Accounting Cycle and Financial Statements Relationship
  • Accounts Payable department functions:
    • Vendor selection process
    • Supplier master data set-up process
    • Contractual review process
    • Procurement process
    • Invoicing process
    • Accounting and reporting process
    • Invoicing process
    • Accounting and reporting process
Take Away
  • Understand the functions of accounts receivable department.
  • Understand the functions of accounts payable department.
Suitable For

Professionals working in accounts receivable and payable departments.

Duration: 2 Days
Tentative Dates: 21th October to 22nd October 2019
Fee: Rs. 12000 Per Participant (10% discount for group of participants)

ARSHAD BHUTTA, CMA (USA), ACCA (Uk)

An educationist, trainer, mentor and coach.  An enthusiastic, competent, self-motivated and hard-working Management Accountant having 11 years of sound professional exposure with proficiency in multiple aspects of Management Accounting, Finance, Financial Accounting, Coaching and Training services. Professional Trainer with International Exposure conducting numerous training’s for professionals of different nationalities; including UAE, Egypt, Jordan, Philippine, India, Pakistan, Afghanistan, Somalia, Morocco, Saudi Arabia, Germany, Kenya, Sri Lank, Qatar in the areas: Financial Accounting, Corporate Reporting, Management Accounting, Performance Management, Business Analysis, Financial Management, Corporate Finance and Internal Audit.