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Consolidating Income Statements
Preparing a Profit & Loss Statement
Preparing Financial Statements
How to Conform to International Accounting Standards
How to Prepare a Balance Sheet
Understanding Profit & Loss Accounts
How to Process Accounts Receivable
About Basic Accounting Principles
Calculating Operating Income
How to Calculate Operating Profit Margin
What Are Cash Flow Notes?
About Financial Account Balances
What Is a Financial Analyst?
Checking Out Accounting Careers
What Are Generally Accepted Auditing Standards?
Summary: Accounts receivable is a list of all customer information, and depending on the ERP system, there will be available invoice-level detail provided by customer. Discover how to apply payments received on a timely basis with help from a certified public accountant in this free video on processing accounts receivable.
Miranda Chook is a CPA with expertise in international operations. She has held executive positions with both publicly listed and privately held companies. In addition to her finance...read more
"I'm Miranda Chook, a CPA. Accounts receivable is basically the sub-ledger or list of all of your customer information. Depending on the ERP system you have, you will have, may be have access to invoice level detail which includes the products that customers have purchased as well as any applicable discounts or allowances. Depending on the ERP system, you will have available invoice level detailed by customer which would include any discounts and allowances that have been given to the customer. Now whether or not you accept checks directly at the company location or if you use a bank lock box, you should be applying the payments received part from customers on a timely basis and investigate any short pays as soon as possible to see why your customer is is short paying and what the reason for the charge-backs are. Other bast processes would include mailing or e-mailing statements to customers on a regular basis."
eHow Article: How to Process Accounts Receivable
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