Accounts Receivable Procedures

This section describes the procedures to be followed on a daily basis when processing accounts receivable transactions and when balancing or proving accounts receivable sub-ledger and general ledger activity.  This document also describes how to recover from some of the most common setup, operator, and system generated errors that can occur during accounts receivable transaction processing. 

This document provides an overview of the most common accounts receivable procedures.   It lists the steps that must be performed in order to complete the described tasks and it also identifies the programs that are used when performing them.  This section does not describe how to use each accounts receivable program in detail.  For a more detailed description of the procedures to be followed when using each of the individual accounts receivable programs, please refer to the Program Reference section of the Accounts Receivable documentation.


Daily Startup Procedure

Processing Cash Check and Credit Card Receipts

Processing Prepayments, Overpayments and Debit Memos

Applying AR credit memos to open invoices

Processing Parent Company Payments

Processing Finance Company Payments

Processing Factor Company Payments

Writing off Invoice Balances during Cash Application

Processing Invoice Adjustments

AR Deposit Processing

Automatic Cash Application

Voiding an AR Check, Processing NSF Checks, Reversing a Customer Payment

Issuing a Customer Refund

Printing an AR Refund Check.

Cross Applying AR and AP Balances

Sales Posting Procedure

Re-Posting Sales

Printing Statements

Placing Overdue Accounts on Hold

Applying Finance Charges

Billing for Prepaid Labor

Auditing Daily Accounts Receivable Activity (Daily Closing Procedures)