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What is Accounts Receivable:
Accounts Receivable refers to the outstanding invoices a company has, or the money it is owed from its clients. An example of Accounts Receivable would be buying a shirt for your best friend with the understanding the they will pay you back later. It’s “IOU”. In business, AR represents a line of credit extended by a company, due within a relatively short time frame, which could range from a few days to a year.
Accounts Receivable clerks keep records and are responsible for the billing and collection of monies owed to the company. The accounts receivable clerk needs to have the proper training to succeed in this role.
Fornaris Accounting Academy will provide the proper training for you to succeed in this lucrative career.
Companies record accounts receivable as assets on their balance sheet due to the fact that there is a legal obligation for the customer to pay the debt. Accounts receivable are current assets, meaning the account balance is due from the debtor in one year or less. An accounts receivable means that the company has made a sale on credit but has yet to collect the money from the purchaser.
Accounts Receivable is a course that provides a comprehensive overview of the AR function. We will review topics such as credit, billing, cash, collections, and customer service.
- Create Estimate
- Generate Invoice
- Generate Customer Statement
- Communicate with customer / Collection process
- Receive Payment
- Deposit Checks or Cash
- Apply Credit Memo
- Collection Letters
- Void Customer Invoice
- Generate Customer and Receivable Report