Receivables

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Originally Posted: December 1, 2009

Author:

Patricia A. O'Malley, CPA

Sole Proprietor

Read more about Patricia A. O'Malley, CPA

Size of Organization:

Medium

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.