Attention to detail is an indispensable skill for an AR manager, and it is particularly useful in the troubleshooting and policy aspects pertaining to account reconciliation and credit extension.
Where payments, finance charges, and balances are concerned, your customer’s records may differ from those of your company. It is your accounts receivable manager’s responsibility to reconcile those differences so that they do not inhibit payment or cause confusion. A training program for your AR manager (and the department as a whole) might include mock exercises to instruct candidates the steps that need to be taken to resolve these issues.
When deciding on whether or not to extend credit to a customer, it is the responsibility of the accounts receivable manager to assess the company’s financial risk in relation to the customer’s ability pay on invoices. Firm credit management policies can offer guidance to an AR manager trainee.
The Jayaram Law routinely and successfully assists its clients in their business-to-business (b2b) collection needs. We take pride in obtaining payment on accounts receivables without fracturing critical business relationships or engaging in time-consuming and costly litigation efforts.
If you need business debt collection services conducted in a professional manner, contact our B2B (business-to-business) debt collection law firm by calling 312.454.2859 or visiting www.jayaramlaw.com.