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Ensure that invoices are sent to customers promptly after goods or services are delivered. Verify that invoices are accurately prepared with correct customer information, product or service details, quantities, prices, and terms of payment.
Verify that all customer payments are promptly recorded in the accounts receivable system and properly allocated to the respective invoices & reconcile the accounts receivable sub-ledger with the general ledger regularly to ensure accuracy.
Regularly review the aging analysis report to monitor outstanding receivables and identify overdue accounts.
Checking the Credit Approval Process, Periodic reviews of Accounts receivable process, Maintaining Proper Documentation (Invoices, Credit Memos, Receipts and correspondence with customers).
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