example accounts receivable process flowchart
DESCRIPTION
This example accounts receivable processes is intended for small businesses looking to create consistency in their Accounting activities. Get more processes at: www.eqbsystems.com/smallbusinessprocesses.htmlTRANSCRIPT
© Copyright 2007, 2014. Alicia Butler Pierre for Equilibria, Inc.More Accounting Process Maps Available for Download at The Process ShopTM
EQBsystems.com/smallbusinessprocesses.html
New Project / Signed Contract
Collect 50% deposit in the form of check or credit card
Deposit check into banking account or Process Credit Card
Check Bounced or Credit Card Declined?
If check, discontinue work or seek alternate form of payment.
If credit card, call client and attempt to collect new or correct info.
Do design work. Submit invoice for final 50% payment.
Discontinue work.
Send quote with markup to client.
Production Involved?
Client Paid Upfront?
Received Payment in 30 days?
Collected Payment?
Do not continue until client pays.
Deposit or Process Payment.
Accounts Receivable Process
SAMPLE
START
yes no
END
END
yes
yes
yes
yes
no no
no
no
Go to COLLECTIONS
process