The Controllership Series - Sales, Collections and Customer Credit

Monday, December 09, 2024
Webcast or Webinar, Online
5:00 PM - 6:22 PM (opens at 4:30 PM) EST
1.5Credits
Accounting and Auditing

Registration is Open

Members
$59.00 Regular Price
Non-Members
$79.00 Regular Price

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$30.00 Members / $42.00 Non-Members
Course Type: Webcast
Course Code: 24/AC949659
Level: Update
Vendor: ACPEN
Field of Study: Auditing, Accounting

Overview:

Why do for profit organizations exist??? To make money!!!!! What a great concept. But if the organization does not have the proper collections and credit procedures in place, they may not be able to access that money. Hence the importance of the credit and collection process.Credit and collections are critical areas for the financial statement controllers. Customer credit is a form of payment that allows small business customers to purchase a product or service before paying for it in full. The process works similarly to the way a credit card does - you procure something and pay it back later. Collections is a term used by a business when referring to money owed to that business by a customer. When a customer does not pay within the terms specified, the amount of the bill becomes past due and is sometimes submitted to a collection agency.

The sales and collection process includes business activities related to selling products and services, maintaining customer records, billing customers, and recording payments from customers. It also includes activities necessary to manage accounts receivable, such as aging accounts and authorizing credit. This course delves into the topics that impact the sales, credit and collections process for management. We discuss strategic steps management can take to ensure their processes are efficient and that they are able to actually collect their revenue.
 

Objectives:

  • Discover and define how the sales and collection process intersect
  • Explore and define the collections process
  • Identify and understand the challenges of the collection process
  • Identify steps to include in the collection process
  • Recognize the Collections in today’s world

Major Topics:

  • Accounting
  • Sales
  • Collections

Major Topics:

  • Accounting
  • Sales
  • Collections

Designed For:

Controllers, Accountants, Finance Professionals, Auditors

Prerequisites:

None