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Accounts Receivable Process

Accounts Receivable Process

Request and record payments made to your company.
1
Introduction:
2
The buyer:
3
Record buyer details
4
Establish your credit practices:
5
Send the buyer a credit application
6
Run a credit check on the purchasing company
7
Approval: Post-credit check review
8
Send the buyer your terms of sale
9
Invoicing:
10
Check customer payment terms
11
Generate and send invoice in your accounting software
12
Tracking:
13
Record your activity digitally
14
Make a second physical copy
15
Establish monthly contact with your client
16
Accounting for accounts receivable:
17
Record for sales on credit of services
18
Record for sales on credit of goods
19
Sources:
20
Related checklists: