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Download Accounts receivable management best practices by John G. Salek PDF

By John G. Salek

http://idsn.com/where-else-can-you-find-us Praise for Accounts Receivable administration most sensible Practices

"An first-class reference instrument on the right way to deal with the bills receivable technique for any corporation. using real-life examples makes the techniques effortless to appreciate. i like to recommend the e-book to an individual who desires to increase funds circulate and decrease undesirable debt loss."
—Michael E. Beaulieu, Senior vp, Finance Cardinal Health

"Rather than just explaining the best way to get the best go back from an funding in debts receivable, John G. Salek finds how businesses shoot themselves within the foot whilst administration units rules and methods with no attention of the influence on money move. bills Receivable administration most sensible Practices is not just for credits and assortment execs who frequently spend extra time cleansing up strategy mistakes and different company 'garbage,' rather than coping with possibility. it may be required studying for C-level executives, the revenues employees, operations managers, and anyone else whose activity affects the order-to-cash cycle."
—David Schmidt, crucial, A2 assets Coauthor of Power gathering: Automation for potent Asset Management

"Enhancing a company's aggressive profile is all approximately giving adequate clients the fitting product, on the correct expense, on the correct time. This author's real-world method of attaining this objective throughout the prism of receivables administration makes this e-book a must-read for these businesses trying to make their mark as a firm that cares approximately its buyers in addition to their very own have to produce monetary results."
—Bruce C. Lynn, handling Director The monetary Executives Consulting staff, LLC

"I have labored with John Salek for the reason that 1992, either as his buyer and as a undertaking supervisor operating together with his association. His wisdom of receivables administration . . . the know-how, the tactics, and the formulation for achievement . . . are unsurpassed within the field."
—Stephen L. Watts, supervisor, worldwide Receivables (retired) normal electrical scientific Systems

"Mr. Salek has written a masterpiece at the intricacies and administration of the bills receivable portfolio. i'd suggest this publication to CFOs, controllers, treasurers, credits managers, and small enterprise owners."
—Steve Kozack, credits supervisor Lennox fireplace Products

"Written via an writer who has been within the trenches and cites real examples. this isn't written in idea, yet from practice."
—Milt Dardis, assortment advisor Dardis & Associates

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Accounts receivable management best practices

Compliment for money owed Receivable administration top Practices "An very good reference instrument on how you can deal with the money owed receivable strategy for any corporation. using real-life examples makes the recommendations effortless to appreciate. i like to recommend the booklet to someone who desires to enhance money stream and decrease undesirable debt loss.

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After implementing the customer satisfaction assurance process for all orders over $200,000, the company realized the following results: • Forty percent of the sales of large systems were paid within 20 days of invoice date, versus only 12% previously. • The average payment period for all large system invoices was cut in half within six months. This result demonstrates the effectiveness of the customer satisfaction assurance process. It also demonstrates that “due upon receipt” terms are not equivalent to net 30 day terms.

Best Practice is to present invoices electronically (Electronic Data Interchange [EDI], Electronic Invoice Presentation and Payment [EIPP], or other electronic means), to bill as quickly as possible, and to ensure it is accepted by the customer. If a customer claims not to have received invoices, it is prudent to check the electronic confirmation of receipt with a phone call to the customer to ensure the invoices were routed to the proper department within the customer. 3. Unbilled receivables are receivables where the service or product has been delivered, the revenue has been recognized, but the invoice has not been generated.

It is absolutely essential to know the size and makeup of a receivables asset (or portfolio) before you can design a strategy and marshal the required resources to manage it. Best Practices Developing a portfolio strategy is a step-by-step process. STEP ONE—Analyze the Size, Composition, and Complexity of the Receivables Portfolio. To illustrate, consider two different receivables portfolios, each with a value of $1 billion. An aircraft manufacturer like Boeing could have 5 customers and 8 to 10 open invoices for aircraft (excluding spare parts and service revenue invoices for simplicity’s sake).

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