Getting Paid Faster (Course Id 1383)

• Who is this course for?
  This course is for anyone needing Continuing Professional Education (CPE), particularly CPAs, accountants, and financial professionals interested in improving billing and collections processes.

• What is this course about or what problem does this course solve?
  This course addresses the common problem of delayed customer payments by teaching best practices and identifying frequent billing mistakes that hinder timely payment.

• How can the knowledge from this course be used?
  The knowledge can be used to implement clean billing processes, create error-free invoices, and foster better relationships with accounts payable personnel, all aimed at accelerating payment timelines.

• Why is this course important to a CPA, Accountant, or IRS Enrolled Agent?
  It is important because it provides actionable strategies for improving cash flow and efficiency in financial operations by reducing delays in customer payments.

• When is this course relevant or timely?
  This course is always relevant, particularly when dealing with clients or customers who habitually delay payments, and was last revised in March 2024 to ensure current best practices.

• How is a course like this consumed or used?
  The course is delivered through NASBA QAS self-study in text format, requiring completion of a final exam with a minimum score of 70% to earn 1.0 CPE credit.

Most companies have at least a few customers who don’t pay them in a timely manner. Unfortunately, for some the problem is worse. They have many customers who don’t pay them as quickly as they’d like. While it is definitely true that some of these organizations purposely drag their feet when it comes to the timing of payments, that is not always the case. In fact, many times the delay is due to something the supplier did (or didn’t do) during the billing process. These are simply practices that could be easily rectified. This course contains the standard best practices every organization should use when trying to get paid in a timely manner as well as a look at the common mistakes that end of delaying payments. The information on these inopportune slip-ups comes from interviews with accounts payable professionals who shared their frustrations over these easily-fixable oversights in our training course.

NASBA QAS - Text - NASBA Registry - 1383

Course Learning Objectives

• Identify common mistakes in your billing process that delay payments
• Create a clean billing process that produces error-free invoices
• Build an effective strategy ensuring you have all needed information on your invoices
• Pinpoint practices that unintentionally cause delays in payment
• Develop an effective strategy for creating a better relationship with the personnel at your customers who are responsible for making payments

Chapter 1: Getting Paid Faster

Chapter 1 Review Questions

Glossary