Accounts Receivable Steps

Accounts Receivable (A/R) is the process you use to invoice customers for services you rendered or goods you provided to them. You also use A/R to process customer payments and track discrepancies. A/R is closely linked to Customer Service, where you enter orders and track customer interaction.

The basic steps for A/R are listed here. See the linked topics for more information.

  1. Create an invoice, debit, or credit memo in A/R (Eliminate residual balances by generating debit or credit memos).
    Note:  You should create most invoices through Customer Service. Use A/R to enter only those invoices, debit memos, and credit memos that do not result from the sale or return of inventory items.
  2. Distributing Invoices.
  3. Posting Invoices, Debit Memos, and Credit Memos.
  4. Entering Customer Payments (Entering Customer Payments Using A/R Quick Payment Application).
  5. Distributing Customer Payments Manually.
  6. Posting Payments.
  7. Running the A/R Aging Report.
  8. Generating Finance Charges.
  9. Rebalance customer balances.
  10. Closing the Year for Accounts Receivable.
Related topics