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

By John G. Salek

ISBN-10: 0471716545

ISBN-13: 9780471716549

Praise for Accounts Receivable administration most sensible Practices

"An first-class reference device on tips on how to deal with the debts receivable method for any corporation. using real-life examples makes the thoughts effortless to appreciate. i like to recommend the publication to somebody who desires to enhance money circulation and decrease undesirable debt loss."
—Michael E. Beaulieu, Senior vp, Finance Cardinal Health

"Rather than just explaining tips on how to get the best go back from an funding in bills receivable, John G. Salek unearths how businesses shoot themselves within the foot while administration units rules and methods with no attention of the impression on money stream. debts Receivable administration top Practices is not just for credits and assortment execs who usually spend extra time cleansing up procedure mistakes and different company 'garbage,' rather than handling threat. it may be required studying for C-level executives, the revenues employees, operations managers, and anyone else whose task affects the order-to-cash cycle."
—David Schmidt, important, A2 assets Coauthor of Power gathering: Automation for powerful Asset Management

"Enhancing a company's aggressive profile is all approximately giving adequate shoppers the correct product, on the correct cost, on the correct time. This author's real-world method of reaching this aim throughout the prism of receivables administration makes this booklet a must-read for these businesses seeking to make their mark as a company that cares approximately its shoppers in addition to their very own have to produce monetary results."
—Bruce C. Lynn, dealing with Director The monetary Executives Consulting workforce, LLC

"I have labored with John Salek due to the fact 1992, either as his buyer and as a undertaking supervisor operating along 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 money owed receivable portfolio. i might suggest this booklet to CFOs, controllers, treasurers, credits managers, and small enterprise owners."
—Steve Kozack, credits supervisor Lennox fire Products

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

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Sample text

The advantage of blanket purchase orders is that all of these elements are specified, and only the release quantity needs to be specified each time. Once an order is deemed acceptable, it is routed to the appropriate fulfillment department within the company, where it is fulfilled, then invoiced. It is critically important that all the specifications of the order are received accurately and routed accurately, so the customer will be billed accurately. Best Practice prescribes electronic communication of this information to minimize transcription errors.

Phone number (and/or name) of person to call if the customer has a question about the invoice, with phrase “Questions about this invoice should be directed to. …” • Tear-off remittance portion, with instructions to include invoice number, amount paid for each invoice, customer account number, how to pay with a credit or procurement card, a change of address section, and any Optical Character Readable (OCR) number or bar code for scanning. Also include a request to return the remittance portion or list the information on the check or electronic payment.

Receivables Antecedents 37 Mitigating credit risk on sales to offshore customers is a science in and of itself. There are numerous techniques and banking instruments to secure your claim and ensure payment. , the Export Import Bank). Commercial credit insurance discussed above can be utilized. We will not attempt to cover them all. The best way to approach risk mitigation is to work with a bank or customs broker/exporter well versed in export payment instruments. However, the simplest, most secure way to manage risk on export sales is to employ one or all of these techniques: • Require full or partial payment in advance via a secure payment method, such as wire transfer of funds to your bank account.

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Accounts receivable management best practices by John G. Salek

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