Free Checklist Templates for Accounts Receivable

Accounts Receivable

OR

Accounts Receivable Aging Report Checklist

Pre-Close Setup

Confirm the AR cutoff date

Post all customer payments through cutoff

Apply unapplied cash and open credit memos

Tie AR sub-ledger to the GL control account

Generate the Aging Report

Run the AR aging report

Verify bucket definitions match policy

Investigate negative customer balances

Bucket Analysis

Review the 90+ day bucket

Compare aging trends to prior month

Document disputed invoices and credit holds

Doubtful Accounts Review

Pull credit updates on at-risk customers

Recalculate the allowance for doubtful accounts

Post the allowance adjustment AJE

Recommend uncollectible accounts for write-off

Collections Outreach

Send dunning notices for 30/60/90+ buckets

Place collection calls on $5K+ past-due accounts

Log all outreach in the collections tracker

Management Reporting and Sign-Off

Draft the AR aging summary memo

Calculate DSO and bad-debt ratios

Obtain controller sign-off on the package

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Accounts Receivable Checklist

Customer Credit Management

Run a credit check on new customers

Set the credit limit in the AR sub-ledger

Require a deposit or PG for high-risk customers

Review the credit policy annually

Invoice Processing

Generate invoices from delivered orders

Verify PO number, terms, and tax on each invoice

Send invoices via the customer's preferred channel

Log the invoice batch in the billing register

Cash Application and Payment Tracking

Pull the daily lockbox and ACH receipts

Apply payments to open invoices

Flag short-pays and unidentified deposits

Investigate the dispute or unapplied amount

Collections Management

Send pre-due reminder at invoice + 25 days

Work the 31-60 day aging bucket weekly

Escalate accounts past 60 days

Refer the account to a collections agency or counsel

Document the negotiated payment plan

Aging Reporting and Analysis

Generate the AR aging by customer

Calculate DSO and CEI for the period

Flag concentration and trend changes for the controller

Reconciliation and Write-Offs

Tie the AR sub-ledger to the GL control account

Send statements to active customers

Post the bad-debt provision adjustment

Approve and post specific write-offs

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Accounts Receivable Checklist

Client Billing Setup

Verify client identity and CIP documentation

Capture the executed advisory agreement

Configure the client in the billing system

Confirm fee debit authorization at the custodian

Fee Calculation and Invoicing

Pull period-end AUM from the custodian feed

Run the quarterly fee calculation

Review the fee proof report

Submit fee debits to the custodian

Deliver fee invoices and disclosures to clients

Cash Application and Reconciliation

Confirm custodian fee receipts settled

Post direct-bill ACH and check receipts

Reconcile fee revenue to the operating account

Document any fee-billing errors in the error log

Aging and Collections

Generate the AR aging report

Send the 30-day past-due reminder

Place a verbal call on 60-day past-due accounts

Recommend write-off or termination on 90+ day balances

Reporting and Sign-Off

Prepare the monthly AR dashboard for management

Review fee yield against the firm benchmark

Capture CFO sign-off on the close

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Billing Process Checklist

Customer and Contract Review

Verify the customer record in QBO

Review the engagement letter billing terms

Confirm the billing schedule for the period

Invoice Preparation and Approval

Pull billable hours and expenses for the period

Generate the invoice in QuickBooks Online

Tie invoice line items to the WIP report

Route the invoice for partner approval

Revise the invoice per partner notes

Invoice Distribution

Send the invoice through the client portal

Email the AP contact with the invoice link

Log the send date in the billing tracker

Payment Processing and Reconciliation

Apply ACH and check payments to invoices

Reconcile deposits against the bank feed

Flag payment discrepancies for review

Investigate and resolve the discrepancy

Follow-Up and Collections

Send a reminder at 7 days past due

Call the AP contact at 30 days past due

Decide on collections escalation

Refer the account to outside collections

Reporting and Analysis

Run the A/R aging report

Tie A/R aging to the GL receivables balance

Calculate DSO for the period

Close out the billing cycle with partner sign-off

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Cash Application Checklist

Pre-Application Setup

Pull bank statements and the lockbox file

Confirm prior-day batch is fully posted

Open the unapplied cash GL account

Capture Incoming Receipts

Tie ACH and wire totals to the bank feed

Log lockbox checks against remittance advice

Record credit-card settlement net of processor fees

Match Payments to Invoices

Auto-match remittances to open AR

Apply unmatched payments to the oldest invoice

Park unidentified receipts in unapplied cash

Handle Exceptions

Categorize each exception by type

Email customer for remittance detail

Process short-pay deduction codes

Issue refund or credit memo for overpayments

Reconcile to the General Ledger

Reconcile daily receipts to the bank feed

Tie the AR sub-ledger to GL receivables

Clear suspense in the unapplied cash account

Close-Out and Documentation

File deposit slips and remittance advices

Lock the daily batch in the AR module

Sign off the daily cash application worksheet

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Collections Management Checklist

Aging Review and Triage

Reconcile A/R sub-ledger to the GL

Pull the 30/60/90/120+ aging report

Identify the highest-risk balance

Confirm unapplied cash and credit memos

Dunning and Customer Outreach

Send the 30-day reminder email

Call the A/P contact on 60-day balances

Issue the formal demand letter at 90 days

Log every touch in the CRM

Dispute and Credit Hold

Open a dispute case with the account owner

Place the customer on credit hold

Issue a corrected invoice or credit memo

Escalation and Write-Off Review

Decide on escalation for 120+ accounts

Place the account with the collections agency

Post the bad-debt write-off entry

Cash Application and Reporting

Apply the week's lockbox and ACH receipts

Update the DSO and collections KPIs

Send the weekly A/R package to the CFO

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Credit and Collections Checklist

Aging Review and Triage

Pull the A/R aging report from the GL

Tie aging to the GL control account

Bucket receivables by 30/60/90/120+ days

Flag accounts over $5,000 in 60+ bucket

Customer Risk Reassessment

Pull updated D&B or Experian commercial reports

Recalculate credit limits using the scoring matrix

Document any credit hold decisions

Tiered Collections Outreach

Send statement reminders to 1-30 day accounts

Make first-call outreach on 31-60 day accounts

Issue formal demand letter on 61-90 day accounts

Document every contact in the customer record

Confirm whether 90+ accounts have responded

Escalation and Legal Review

Compile the escalation packet for counsel

Review FDCPA and state-law applicability with counsel

Approve assignment to third-party collections

Bad-Debt Reserve and Write-Offs

Recalculate the allowance for doubtful accounts

Post the bad-debt reserve adjusting entry

Process specific write-offs with controller approval

Reporting and Policy Review

Publish the monthly collections KPI dashboard

Review credit policy exceptions granted this period

Schedule the quarterly credit committee meeting

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Customer Credit Approval Checklist

Application Intake

Send the credit application packet

Collect signed application and W-9

Confirm requested limit and product mix

Identity and Entity Verification

Run OFAC and SDN screening

Verify legal entity and good standing

Request a personal guaranty

Credit Bureau and References

Pull D&B and Experian Business reports

Call three trade references

Confirm bank reference and average balance

Financial Statement Analysis

Review two years of financial statements

Calculate liquidity and leverage ratios

Assess DSO trend and aging quality

Terms, Limit, and Committee Decision

Recommend credit limit and terms

Submit file to the credit committee

Document required collateral or guaranty

Issue ECOA adverse action notice

Customer Setup and Notification

Countersign and file the credit agreement

Set up the customer in NetSuite or QBO

Notify sales and AR of approved terms

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Premium Billing and Collection Checklist

Pre-Bill Account Review

Pull the open billing register from the AMS

Reconcile pending endorsements against the dec page

Verify producer of record and commission split

Confirm premium financing arrangement if present

Invoice Generation and Delivery

Generate invoices for the cycle

Notify the premium finance company of the funding draw

Deliver invoices via the insured's elected channel

Log delivery confirmation in the AMS

Payment Posting and Reconciliation

Post payments to the trust account daily

Run OFAC screening on each payor

Reconcile the trust account to the carrier statements

Overdue Account Follow-Up

Identify accounts past due 10 days

Issue the first dunning notice

Call the insured for accounts past due 20 days

Document the collection outcome

Non-Pay Cancellation Escalation

Verify the state-specific non-pay notice window

Issue the notice of cancellation for non-payment

Notify lienholders and additional insureds

Refer balance to outside collections

Month-End Close and Reporting

Close the receivables ledger for the month

Produce the aged receivables report for the principal

Sign off on the month-end close

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Rental Payment Checklist

Pre-Cycle Setup

Generate the monthly rent roll

Post recurring charges to tenant ledgers

Send the rent reminder notice

Payment Receipt and Posting

Verify the payor matches a leaseholder

Confirm payment amount matches the ledger balance

Endorse and scan paper checks

Post the payment to the tenant ledger

Issue the payment receipt

Delinquency Handling

Apply the late fee per the lease

Send the delinquency notice via portal and certified mail

Process the NSF return and reverse the posting

Escalate the delinquent account

Deposit and Reconciliation

Deposit funds to the operating account

File IRS Form 8300 for cash receipts over $10,000

Reconcile bank deposits against the rent roll

Generate owner statements and disbursements

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