Accounts Receivable

Accounts receivable is the balance of money due to a business for goods or services delivered or used but not yet paid for by customers. Accounts receivables are listed on the balance sheet as a current asset. Accounts receivable is any amount of money owed by customers for purchases made on credit.

In today’s time, Accounts Receivable is most important factor of every entity as cash flow is utmost importance in every entity. Business growth, performance, stability etc. depends on the account receivable of the entity. Management has to spend more time to manage their receivables. 

Key Benefits of Outsourcing

  • Low processing cost
  • Increased Cash flow and Recovery
  •  Decrease in bad debts
  • Real time reports
  • Focus on core activity
  • Better Customer Relationship
  • Statutory and Regulatory Compliance Monitoring

Overview of our Accounts Receivable Process

  • Creation of Invoice
  • Creation of documentary evidence such as sales order, delivery receipts etc
  • Mailing of Invoice to the customer after approval from client
  • Recording of Invoice into the system
  • Updation of Invoice into Accounts Receivable
  • Follow up of collection of account receivable
  • Updation of Account receivable on collection
  • Reconciliation of Accounts Receivables
  • Preparing of Accounts Receivable Reports
  • Preparing of Customer Account Statement
  • Give alerts on any mismatching in process
  • Preparation of debit or credit note wherever required
  • Proper monitoring on Accounts Receivable Process
  • Preparation of AR aging report

Workflow of Accounts Receivable Process

  1. Customer Creation in system
  2. Generate of Invoice
  3. Scrutiny of Invoice with various checks point
  4. Sent invoice to customer after approval
  5. Recording of Invoice in to the system
  6. Update the Customer Ledger
  7. Follow up from customer
  8. Collection from client
  9. Reconciliation of Collection
  10. Submission of Accounts Receivable Report to client