Ensure throughout the month that Accounts Receivable (“A/R”) procedures (where applicable for your business) are followed.
Of special note are these A/R checklist items:
- Enter and Process Cash Receipts – Record all payments received from customers, including checks, EFTs, and credit card payments. This keeps customer balances accurate and up to date.
- Invoice Recurring Sales Orders – Run the recurring billing process for any standing customer orders.
- Invoice from Orders to Invoice Queue – Review open sales orders ready to be invoiced. Ensure all orders are invoiced and posted in the correct period.
- Invoice Service Calls – Verify all completed service calls ready to be invoiced have been billed.
- Invoice Projects – Verify that billable milestones or time on projects have been invoiced. Coordinate with project managers if needed.
- Print and post all un-posted invoices – Verify that all customer invoices for the month have been created and posted. Post any invoices that have been entered but not yet finalized to ensure they are included in the current period.