GFEBS Reimbursables - Debt
Management Questions and Answers |
Latest Update | 2024/2025 | Graded A+
What is the purpose of debt management in reimbursables?
The purpose is to effectively track, manage, and resolve outstanding debts owed to the
organization or from the organization.
How c...
What is the purpose of debt management in reimbursables?
✔✔ The purpose is to effectively track, manage, and resolve outstanding debts owed to the
organization or from the organization.
How can outstanding debts be tracked in a reimbursables system?
✔✔ Outstanding debts can be tracked by generating and reviewing reports that list all open
accounts receivable and their statuses.
What are common actions taken to manage overdue debts?
✔✔ Common actions include sending reminders, negotiating payment plans, and initiating
collection processes.
What information is critical to manage debt effectively?
✔✔ Critical information includes debtor contact details, outstanding amounts, due dates, and
payment history.
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, How can users ensure accurate recording of debt transactions?
✔✔ Users can ensure accuracy by regularly reconciling records, verifying transaction details,
and maintaining up-to-date documentation.
What steps should be taken if a debt is not collected within the expected time frame?
✔✔ Steps include reviewing the collection strategy, contacting the debtor for follow-up, and
escalating the issue if necessary.
What is the role of financial reports in debt management?
✔✔ Financial reports help monitor debt levels, track repayment progress, and identify any issues
or trends in debt collection.
How can debt management processes be improved?
✔✔ Processes can be improved by implementing better tracking systems, automating reminders,
and providing staff training on effective debt collection techniques.
What actions are involved in resolving a disputed debt?
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