Workflow Templates: Accounts Receivable checklist

Review and adjust credit policies regularly

Conduct credit checks on new customers

Set credit limits based on customer creditworthiness

Issue invoices promptly after delivery of goods or services

Ensure invoices are accurate and complete

Send invoices to customers via their preferred delivery method

Record payments received timely and accurately

Match payments to the appropriate invoices

Reconcile accounts receivable ledger with general ledger

Send payment reminders before payment is due

Follow up on overdue payments with phone calls or emails

Negotiate payment plans for delinquent accounts

Prepare regular accounts receivable aging reports

Analyze accounts receivable performance metrics

Review and report on any significant changes in customer payment patterns

Reconcile outstanding invoices with customer statements

Investigate and resolve discrepancies

Adjust accounts for any write-offs or bad debt provisions

Accounts Receivable checklist