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Example of AR Process in Companies - AR Process (O2R Process)

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AR Process An Accountant Should Perform following Steps: Maintain Record of Sales Orders (Agreement Tracker Excel Sheet) Issue Bills on Time (On Bill Date as per Tracker) Monitor Due Dates (Due Dates Mentioned in Party’s Ledger In Tally) Issue Reminders for Due Dates (2 − 3 Days before due Dates) Monitor Bank Statement for Receipt (Daily / Weekly Pass Entry for Receipt as per Bank Statement) Payment Not Received Payment Received Make Debtors Aging Report Monthly Update Party Ledger Send Email / Call Customers for Payments If Amount Not Yet Received Take Approved for Bad Debts If Short Amount Received Take Approved for Discount If Amount Received Book Bad Debts If Expected to be Received Make Provisions

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 13 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.