Reporting and Operations


Size of Organization: 
  • Compare all check logs for cash receipts to the amounts applied to receivables.  This will be done by an individual separate from those processing cash receipts and accounts receivable.
  • Require the operational staff to approve all non-cash credits to receivables and bad debt expense.
  • Send monthly statements and follow up on past due balances.
  • Periodically review the outstanding balances for collectibility.
  • Review the accounts receivable aging summary and compare it to the trial balance.