2 CPE Learn how to set your Credit, Accounts Receivable and Collections processes to maximize your cash collections.
Cash is the life blood of any organization. But as any good accounting professional knows, simply making a sale does not automatically ensure stable cash flow. In fact, most small-to mid-size companies do not have an adequate system to grant credit, track accounts receivable or collect past due accounts and many large companies don't put sufficient diligence into these processes and leave cash on the floor.
This course gives you the main ingredients for an end-to-end process that will ensure that everyone in your organization understands the importance of vetting potential customers, granting credit where feasible and how to set up a system to collect when your customers are slow paying or--worse, not paying.
We discuss:
- Why end-to-end A/R is important
- How to identify all the risks inherent in A/R
- How to do a better job, organizationally, in managing A/R
- The importance of documenting your A/R processes
Learning Objectives
- Identify current accounts receivable management techniques
- Recognize best practices for a credit & collections function
- Recognize when to use a loss mitigation company
Last updated/reviewed: August 16, 2023
36 Reviews (114 ratings)
Reviews
Mary Kelly
(Senior Credit Analyst at New Day 360, Inc DBA:Credit Score Specia..)
Excellent! Clear, concise, excellent flow, in context, and to the point with scripts and clear guidance. A/R, Credit & Collections and Sales Reps would benefit the most from this course. Help us all work together to get paid timely. If Credit & Collections needs to work, ensure that customer information has been obtained and payment expectations have already been clearly communicated.
Anonymous
(auditor)
I liked the course, fresh content. Maybe consider more in the way of how to analyze customers financial statements when determining if you should grant credit, or the amount. However, this is more about the overall process so this is probably out of scope.
Anonymous
()
This course was good but very much slanted to larger businesses with resources that might not be available to smaller companies. There are some script tools in here that can help anybody but I was just hoping for hands-on tools for smaller businesses.
Anonymous
()
Good overview of this process. He did good at providing a basic overview of what you need to do. It wasn't just a bunch of theory. It was practical advice at a high level that you can incorporate into your business.
Tim Philips
(Controller at Self)
Having experience in this field this area is certainly one that needs the right people and processes. However, the test was an advertisement for collection firms, or firm.....
Anonymous
(Controller)
Where I work, we need to enhance and better define our collections process. This gave me a lot to think about addressing our credit & collections process.
Howard (Toby) Stearns, CPA, ..
(Controller at Checkers Industrial Safety Products)
Great overview. the only reason I didn't give it 5 stars is that I would like more detail or another class on how to set credit limits for new customers.
James Allison
(AR Manager at Uniti)
Great course for the basics of B2B collections. Didn't know what I was really expecting but this covered many of the topics I face. It was well worth it.
Peter Morris
(Consultant at Treasury)
Excellent presentation. Very current and relevant in how to manage the credit and collections process from inception to time of final payment.
Anonymous
(Senior Accountant)
Awesome course - a lot of great techniques for determining what customers to do business with and strategies for best to collect.
Sharon Vincent
(CFO at MJC Electronics Corporation)
I like the checklist and call script. I like that Scott points out that collections should not be up to the sales team.
Eric Robison
(Senior Credit and Collections Analyst at Intuit)
Great course - and Scott did an excellent job of covering all the bases, in a way that makes it easy to understand.
Anonymous
(Senior Treasury Analyst)
Good overview of the importance of AR - had problems with the Factoring recording portion - kept freezing
Anonymous
()
The course contains plenty of useful information on accounts receivable and credit collections process.
Keith Johnson
(Director SOX Compliance at Waterjet Holdings)
Very good advice and practical knowledge on how to handle this sometimes touchy area of business.
Krizlove Corral
(Credit and Collections Analyst II at NetSuite)
The course is so helpful, I have gained a lot of knowledge which I can use in my everyday tasks.
Anonymous
(CFO)
Great course that gave specific examples and tools related to the collection and credit process.
Anonymous
(Accountant II)
Full of a lot of good information; helpful to use when thinking about the company I work for.
Anonymous
(CFO)
Very good overview and applicable to someone who manages this area or works in this area.
Lawrence DeParis
(Founder & CEO at C-Level Solutions LLC)
Excellent course. Very useful and practical guidance. Well-organized and presented.
Anonymous
(Business & Tax Consultant)
This was an excellent comprehensive presentation about AR from credit to collection.
Ara Toroyan
(Director - Financial Planning & Proc.. at NCCI Holdings, Inc.)
Great overview. Clear, practical information from a real battle-tested executive.
Anonymous
(Consultant)
Good overview and tips. The checklist and script are very helpful.
Michael Gendreau
(Finance/Operations Manager at Patco Electrical Contractors, Inc)
The scripts provided were very well produced as was the topic.
Anonymous
(CFO)
good --presentation could be improved so it is more engaging
Sarah Sessa-McCaughey
(CFO, Fine Arts and Entertainment Service.. at Iron Mountain)
Very useful. Appreciated the real world tips/considerations
liked, very informative, right amount of info
Terri Salazar-Rodriguez
(None at None)
Excellent presentation. Great recommendations.
Kristin Kane
(Corporate Controller at PatientsLikeMe)
Appropriate length, great material.
Anonymous
(VP, Finance)
Comprehensive course very well done
Sami Jabra Seedhom
(Accounting Department Manager at Edrak Int. For Commercial Services)
Thank you for this valuable course.
Anonymous
(Self Employed )
OK. But a lot of repetition.
Qingkui Qiu
(Finance supervisor at Wanli New energy corporation LTD.)
great course!
Shirley Battles
(Sr. Credit Specialist at Static Control)
Great Course!
Rick Perry
(Consultant at R.A. Perry Consulting)
Very helpful
Andrew Snyder
(Analyst at AFS)
Great job!
Prerequisites
Course Complexity: Advanced
Prerequisite: Experience with working capital management
Advanced Preparation: None
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
Course Questions and Answers1 Question
Scott MacDonald, CPA, MBAPresident/Owner
About Illumeo
Platform
Resources
Contact Us
- Email: info@illumeo.com
- Phone: 408-400-3993
- Adress: 1608 W Campbell
- Av #221, Campbell, CA 95008
© 2024 Illumeo, Inc.
One comment says this course was an advertisement for collection firms. This is incorrect. The presentation talked a lot about using people who have the correct skills. Outsourcing is one means of obtaining the correct skill set. AR collections is however becoming more and more like payroll. 25 years ago, people had issues with outsourcing payroll, now a majority of companies outsource at least some portion, if not all, of their payroll function. It is a matter of efficiency and allowing your employees to concentrate on core competencies.
But if you can hire the right skills in house, more power to you.