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Inaccurate Receivables

  • Your process of entering in a sales document with a payment schedule is manual.
  • You currently have to enter a sales invoice with a payment schedule as multiple invoices.
  • There are errors made in entering these multiple invoices, causing receivables to be inaccurate. Your AR aging is inaccurate.
  • You have a manual process of entering in revenue deferral transactions or using recurring entry transactions.
  • Transactions are missed, not recognizing revenue when they should.
  • You have transactions in which the receivable is recorded in one month but the revenue is recognized in a different month or months.
  • Monthly journal entries do not recognize revenue and expense.
  • Subsequent journal entries are done to correctly recognize revenue and expense.
  • You have to manually create a debit memo in Receivables Management, create a vendor record in Payables Management, enter a debit memo in payables, and create a payment on the debit memo.
  • You are wasting time.
  • You are missing transactions.
  • You could potentially issue the debit in Receivables Management but forget to create the applicable transactions in Payables Management, and therefore the customer does not receive the refund.

About the Author: AJ Amjad Khanmohamed

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