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Accurately Reporting Invoices and Receipts

Join us for your comprehensive guide to proactively manage your invoicing systems and identify ways to implement effective invoicing and receipting procedures.

Many business owners take for granted the importance of having a systematic invoicing and receipting procedure in place and how it can seriously affect cash flow and bad debt. Businesses often do not understand that their invoice format and procedure alone can determine payment or not. Poor procedures can lead to delays in payment or no payment at all. Systematic tracking of payments is also key to determine what goods or services have been paid and what is still outstanding. This topic helps the persons responsible for invoicing and receipting to understand how first to establish a tracking system and then what is required to carry the processes out effectively, and explains the impact of not resolving payment discrepancies in a timely fashion. Failure to bill accurately and collect timely is the downfall of many businesses. This is critical for any business that wants to get paid.

Runtime: 81 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Invoicing

  • Definition
  • Purpose
  • Fundamental Elements of an Effective Invoice

Creating an Invoice

  • Company Information
  • Header
  • Details

Billing/Revenue Cycle Strategy

  • Determine Length
  • Examples
  • Payment Due Date

Role of Billing Department

  • Staffing
  • Accurate Invoicing
  • Timely Invoicing
  • Follow-up

Receipting

  • Responsibility-Internal Controls
  • Handling Payment Discrepancies
  • Ensure Accurate Account Records
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on April 25, 2019.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Purchase Options

More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Lynn Izzo

Debt Collection Consultants

  • Owner/operator and founder of Debt Collection Consultants since 2005, independent advisor and consultant providing best practices and solutions for accounts receivable management from billing to collection to a diversified business client base
  • Practice emphasizes all aspects of debt collection and accounts receivable management solutions; including, but not limited to billing and aging analysis, collection policy development and enforcement, staff training, correspondence preparation, delinquency reduction and resolution, dispute negotiation, A/R structure consultations, A/R process and design to maximize revenues, skip tracing, locating assets
  • Conducts regular seminars, workshops, webex’s and on-site/off-site consultations to companies on effectively managing the A/R function
  • Conducted A/R training workshops for SCORE-Orange County California Chapter
  • Assisted in successful collection of bad debt well over two million dollars in the past couple of years through effective collection consultations and hands-on work
  • Work with businesses on a continuous basis to streamline their A/R function to reduce delinquencies and maximize revenue
  • Practicing Paralegal, University of San Diego (Paralegal Certificate); B.A. degree in business, Keene State College
  • Contact information [email protected], 714-368-7700, Linkedin, or www.debtcollectionconsultants.com
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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 405294
Published 2019
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