Accounts Receivable SOP (Standard Operating Procedure)

This SOP details the process for management and tracking of amounts owed by customers to the company after the sale of goods or services.

This is a Microsfot Word document.

 
What does it solve?
Accounts Receivable, Compliance, Financial Oversight

Example
Streamline Software Solutions, a software development company, recently optimized its financial operations by implementing an Accounts Receivable Standard Operating Procedure (SOP). Under this SOP, the accounts team systematically tracks and manages incoming payments. Every invoice issued is logged into a centralized database with a unique tracking number, and regular follow-ups are scheduled for overdue payments. This process also includes a monthly reconciliation of accounts receivable to ensure accuracy in financial reporting. The implementation of this SOP has significantly improved cash flow management.

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