Specialization
Target audience
- Anyone interested in this topic
2 day
New training
Prerequisites
No prior knowledge is required.
Objectives
◗ Apply the accounting, legal, and tax rules governing accounts receivable.
◗ Record routine sales, collections, and financing transactions related to accounts receivable.
◗ Analyze accounts receivable to ensure they are collected.
◗ Define the inventory tasks to be performed during accounting cut-offs.
◗ Anticipate the risk of non-payment by using collection techniques when necessary.
Training program
This program is updated in real time to reflect the latest changes introduced by the electronic invoicing reform.
◗ The Role of Accounts Receivable in Business Management
– On the balance sheet: Working Capital Requirement (WCR) – Financial impact of accounts receivable
– In the income statement
◗ General Billing Principles and Accounting Procedures for the Sales/Customer Cycle
– Legal Rules and Procedures for Billing
• General Terms and Conditions of Sale (GTC)
• Quotes and delivery slips
• Invoices: different types of invoices and required information
• Methods of transmission and rules regarding electronic invoicing
• Electronic invoicing: scope of application, timeline, platform selection, impact on invoices, e-invoicing, and e-reporting
• Payment terms
– Accounting procedures related to the sales/customer process
• Accounts receivable risks
• Internal controls applied to the sales/customer cycle
◗ Accounting for Billing and Collection Transactions
– Recording of billing transactions
• Sales of goods, services rendered, incidental charges, packaging, and deposits
• Credit memos, discounts/rebates/refunds granted, and cash discounts
• Invoices in foreign currencies
• Late payment penalties
– Recording paymenttransactions: cash, checks, wire transfers, credit cards, commercial paper, foreign currencies, and factoring
– Accounting and administrative processing of outstanding payments
✔ APPLY | Practical examples: recording sales transactions and customer collections
◗ VAT Management for Sales Transactions
– Taxable base
– Applicable VAT rates
– Chargeable event and due date
– Reverse charge of VAT in real estate subcontracting
– International VAT: VAT territoriality rules
– Intra-EU VAT: mechanisms and risks
– VAT and unpaid taxes: what are the implications?
– Checks to Perform
✔ ASSESS | Quiz on VAT Treatment of Sales Transactions
◗ Inventory work
– Analysis and justification of accounts: account reconciliation (accounts receivable balances, payment schedule)
– Impact of the separation of fiscal years: deferred revenue, accounts receivable
– Allocating revenue to the fiscal year
– Valuation of doubtful and disputed accounts receivable: valuation and accounting for write-downs, tracking write-downs
– Invoices to be issued and valuation of work in progress
✔ APPLY | Practical exercise: recording inventory transactions
◗ Customer follow-up and reminders
– Anticipating the risk of non-payment: information flow between departments
– Identifying the causes of late payments and their effects
– Collection techniques and maintaining business relationships
✔ EVALUATE | Knowledge assessment quiz
Why choose this course?
You want to master the accounting, legal, and tax rules related to accounts receivable.
This training course helps participants understand the role of accounts receivable in business management, grasp the concepts of invoicing and collections, handle sales tax, and organize the follow-up process for overdue accounts.
Teaching and assessment methods
Before the training: Submit your expectations via your online portal 15 days before the training begins and complete a self-assessment of your skills.
Teaching Methods: A variety of teaching methods to cater to different learning styles, encourage active participation, and reinforce learning through experimentation and practice.
Educational materials: presentation materials, reference materials (summary sheets, tables, etc.), and other resources available in your account.
During the training: theoretical concepts are alternated with examples drawn from real-life cases. Participants are given the opportunity to engage in role-playing exercises. Numerous practical exercises allow participants to demonstrate their mastery of the skills as the training progresses.
Training monitoring and evaluation: attendance sheet and certificate of completion. Immediate and post-training evaluations conducted using the LearnEval platform.
Price
€1,610, excluding tax