Billing and Collections Best Practices

"For too long, companies have focused on expenses. In this book, Steve Bragg shows how to effectively enhance your revenues by implementing more than 200 billing and collections best practices."
Janice M. Roehl–Anderson Principal, Deloitte

"If a company cannot timely and efficiently bill and collect for its goods and services, it might as well close. Most companies need help in this area, especially credit monitoring. Billing and Collections Best Practices provides all of the guidance and tools needed to do this task right. Steven Bragg again has produced a useful tool for increased profitability."
Gail W. Sevier Member/Manager, Marrs Sevier & Company, LLC

"This is a great resource. The book is packed with practical tips and ideas that go right to improving the bottom line."
Clint Davies Principal, Berry, Dunn, McNeil & Parker

Billing and Collections Best Practices presents more than 200 best practices and step–by–step plans on how to successfully implement strategic improvements within an organization. CEO and bestselling author Steven Bragg shows readers how to enhance 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.

Controllers, accounts receivable managers, accounts payable managers, and CFOs will discover how to:

Create a more efficient billing operation Reduce the error rate on bills sent to customers Reduce the amount of outstanding receivables Restructure invoice formats to shorten the payment interval Create a database for recurring billings and maintain its accuracy And much more

Preface.

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.

Glossary.

Index.

STEVEN M. BRAGG, CPA, CMA, CIA, CPIM, has been the CFO or controller of four companies, as well as a consulting manager at Ernst & Young and auditor at Deloitte & Touche. He received a master′s degree from Bentley College, an MBA from Babson College, and a bachelor′s degree in economics from the University of Maine. Mr. Bragg resides in Centennial, Colorado. He has written twenty books, including Accounting Best Practices, Accounting Reference Desktop, and Controllership: The Work of the Managerial Accountant, all from Wiley.