255 pages [139 self-teaching + 116 self-quizzes with detailed answers]
Section 1: Collections basics. Setting up a document retention system. How to set—and get—late charges. Proven phrases to get early payment on invoices. A tickler system that keeps you on top of slow payers.
Section 2: The successful collector. 5 key personal traits. How to time each phone contact and letter. Tested phone and letter phrases that speed up slow payers.
Section 3: Creating collection plans. Detailed 5-step plan with proven collection letters for each step.
Section 4: How to use professional collectors. When and how to choose letter writing v. collection agencies v. collection attorneys. Pros and cons, and fees, of each. Monitoring the service.
Section 5: Avoiding losses with new customers. How to get credit data. When to use postdated checks. How to know when not to sell to a prospect. Special: a complete, legal Credit Application that reveals bad risk before your company sells to them.
Section 6: Avoiding losses with current customers. Nontechnical explanations of liens, mediation, workout arrangements and other techniques. When and how to use each each based on the debt and the debtor.
Section 7: Customer personal guarantees. Individual v. corporate guarantees. Special feature: a lawyer-approved personal guarantee you can use.
Section 8: How to use collateral. How to find out quickly what assets a customer or prospect owns. How to “perfect” an agreement—and collect the collateral, if needed.
Section 9: Bankrupt, or near-bankrupt, customers. Getting your money when a customer declares bankruptcy. What to do if you receive a bankruptcy notice. Getting back your merchandise.
Glossary 1. Key terms used in collections.
Glossary 2. Key abbreviations used in collections. Very helpful for decoding notices your company may receive.
Plus: Where to find a prospect’s or nonpayer’s assets: Web site of the agency in each state where you can find a prospect’s or customer’s assets and other financial data.
Publisher: AIPB
A little harder to get into, but that is because no one likes collections:)
Would have liked more examples/experiences.
Very interesting reading and very good points for someone who works in a big company and does not do collection per se.
It gave good insight into this aspect of accounting.
Great course.
Each organization that offers anything on collections gives you just a little bit more and your course is no exception
This book contains very helpful information and is an excellent reference.
good book
It is good.
The book is good. Well written, good topics. Needs to be updated with the later.
Very helpful and informative. Use as a reference regularly.
It is very fantastic approach to have the basic idea inorder to do the real Accounting job.
Very helpful
This course helped alot in the collections of some of our accounts receivable. I also have adapted some of it to the public as well and our write off of A/R is down alot.
More courses should be offered
Helpful
Decent outline of procedures – although every company will have their own specific procedure.
love this book. excellent
It was very goo dfor me because helped me to be able to provide the service for accounts receivable.
Good
Credit and Collections:Business to Business. Was an excellent course offering. It contained more than just credit and collections and contained valuable information that I may use in future endeavors.
Basic course and with importance to those who are inexperieced in dealing with delinquent client expecially as it relates to Fair Debt Collections Practice.
A Bit outdated – such as sending letters. Most correspondence is via email. Comes on a bit strong in customer relations.
The course was comprehensive. My only recommendation would be for AIPB to develop other more advanced mini-courses dealing the concepts covered in this course but in more detail.
Excellent
Above expectation
This course helped me with more extensive information, which can be very beneficial when you have credit issues and collection matters.
It provides all the essentials you need to know in order to apply them according to the company’s A/R needs.
Very useful in our business – I try to keep up on these topics as part of my job, and the AIPB book is extremely comprehensive…it addresses all of the relevant topics.
It gave me a better understanding and a little more knowledge on how to handle collections in a more effecient way