Billing and Collections Best Practices / Edition 1by Steven M. Bragg
Pub. Date: 12/16/2004
By implementing a plethora of best practices, a company can greatly improve the efficiency of its information reporting. Billing and Collections Best Practices shows controllers, accounts receivable managers, accounts payable managers, and CFOs how to implement more than 200 best practices related to every phase of a company's billing and collections activities,
By implementing a plethora of best practices, a company can greatly improve the efficiency of its information reporting. Billing and Collections Best Practices shows controllers, accounts receivable managers, accounts payable managers, and CFOs how to implement more than 200 best practices related to every phase of a company's billing and collections activities, including creating credit systems, granting credit, creating and delivering invoices, applying cash receipts, managing the collections department, outsourcing collections work, and using a variety of collection techniques.
One of the first books of its kind to lay out a step-by-step plan on how to implement best practices, Billing and Collections Best Practices itemizes the exact work plans needed to implement each best practice, as well as the common pitfalls that may be encountered along the way. Four-time CFO and bestselling author Steven Bragg also includes a comprehensive list of billing and collections measurements that allow readers to calculate their company's progress along the way.
This go-to resource for billing and collections improvement allows readers to assess their organization's needs and pick the best practices that would provide the most desirable outcome. Designed to benefit people in several parts of a company, Billing and Collections Best Practices provides credit staff with coverage on credit policies, procedures, systems, and credit granting techniques, while supplying the accounting staff with useful chapters covering invoice creation, invoice delivery, and cash application. In addition, the collections staff has access to a number of chapters covering collection systems, outsourcing, and management techniques.
This accessible guide features:
- Factors that impact a best practices implemen-tation and how to increase a company's odds of success
- Twenty-two best practices related to the organization of the credit function
- Thirty-one credit granting best practices
- Twenty creation of invoices best practices
- Ten delivery of invoice best practices
- Eleven cash collection and application best practices
- Twenty-eight best practices related to the management of the collections department
- Twenty best practices related to the policies, procedures, training, and supporting systems required to collect overdue funds in an efficient manner
- Thirty-three collection technique best practices
- Eleven measurements to assess how the best practices have altered the efficiency and effectiveness of the accounting department
- Clear graphics indicating the cost and imple- mentation time for each practice
- An appendix summarizing more than 200 best practices
- A glossary of billing, credit, and collection terms
- And much more
Table of Contents
Chapter 1: Success or Failure with Best Practices.
Chapter 2: Credit Policies, Procedures, and Systems.
Chapter 3: Credit Granting Techniques.
Chapter 4: Invoice Creation.
Chapter 5: Invoice Delivery.
Chapter 6: Cash Collection and Application.
Chapter 7: Managing the Collection Department.
Chapter 8: Collection Systems.
Chapter 9: Collection Techniques.
Chapter 10: Deduction Management.
Chapter 11: Outsourcing Collections.
Chapter 12: Billing and Collections Measurements.
Appendix: Summary of Best Practices.
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