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E-CommerceXAccounts Receivable The purpose of the accounts receivable program is to keep track and report on money owed to your company by your customers as a result of providing them with goods or services The information needed to operate the program is 1Customer Information-Any customer information that could be useful 2Invoice Information- Invoice dates invoice amounts credits order numbers and other invoice information 3Payment Information- Data from customer checks received will be used to either close the open invoice or will show partial payments against the open invoice The AIS Solutions Accounts Receivable package is a full-featured system which handles all areas of customer account processing All billing and payment functions are built-in and any of the standard reports can be printed on demand Each day invoices credit memos and payments are entered into the system This will keep all customer accounts current therefore all reports and information may be displayed or printed at any time For most businesses statements should be sent once a month to all customers with an account balance The statement should show the following Pa beginning balance the previous months ending balance Pall invoices charged during the month Ppayments on account during the month Pany debit memos or credit memos Pan ending balance Pa due date When you mail statements to your customers every month you should reconcile your accounts receivable ledgers with the accounts receivable control account The control account is the total accounts receivable balance from your general ledger The beginning accounts receivable total plus charge sales for the month minus payments on account for the month should equal the ending accounts receivable total Compare this amount to the sum of the individual customer accounts receivable ledgers This will help you discover any errors in your customer statements before you mail them out Your accounts receivable balances are a valuable asset When customers buy from you on
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