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 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.
1
, 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?
2
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 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.
1
, 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?
2
