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Accounts Receivable WORK FLOW

The document discusses accounts receivable processes at a daily, weekly, and month-end basis. It includes details on collection entries, reports, bounced checks, refunds, aging, barter transactions, credit notes, bank statement entries, and posting keys. The document provides accounting codes and transaction codes for various accounts receivable activities.

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Balaji
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79 views5 pages

Accounts Receivable WORK FLOW

The document discusses accounts receivable processes at a daily, weekly, and month-end basis. It includes details on collection entries, reports, bounced checks, refunds, aging, barter transactions, credit notes, bank statement entries, and posting keys. The document provides accounting codes and transaction codes for various accounts receivable activities.

Uploaded by

Balaji
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Accounts Receivable

(1) Daily Basis: -

 COLLECTION ENTRIES

 CMS – CHEQUE
 TRANSFER ENTRIES => NEFT & RTGS

 JANHAWI => Get bank statements and need to share them with all the AM &
heads.
 Average collection days of each client when there is new login.
 Revenue Reports need to be shared daily.

Type of clients
 New clients => no need
 Group companies => no need
 Existing clients => AR days require for CAF approvals

(2) Weekly Basis: -

 Cheque bounced cases.

 Intimate concern Account manager by marking CC to Senthil, revenue


head and BD.
 No more credits to this client.
 If any campaign is on air need to drop it
 If clients transfer the amount immediately via wire transfer will
continue the campaign.

 Customer Refund

 Need to check the matrix 14th.


 Required a request from the client stating the reason for refund
attaching the cancelled cheque leaf.
 Addition Ankit approval from the tax team.
 Jatin Sha – corporate finance person, finance needs to request for
refund.

 COLLECTION STATUS FOR NON-FCT ACTIVITY

 Need to get the IO number from the execution team or AM,


 Find in invoice list by filtering IO Number.

(3) Month-end activity: -

 Month-end review: -

 RIT a/c clearance. T -CODE FBL3N (COMMON FOR ALL


STATIONS)
 CMS a/c clearance. T CODE FBL3N (SEPARATE a/c for each station)
 Aging report clearance
 -ve Balance needs to be clear.
 +ve balance in customer advance needs to be
clear.
 Advance balance ARAP.
 Control a/c clearance for barter cases GL-
31000017.
 Credit Note clearance.

 BARTER: -

 Exchange of inventory between two parties.

Entry => Dr. control a/c

To Customer a/c

ARAP => F-32

 CREDIT NOTE: -
 Need to knock off the wrong invoice and get confirmation from AM
about invoice details.

(4) CMS STATEMENT ENTRY (FOR CHEQUES)

 ZFRCPT
Dr REMIT IN TRANSFER a/c (1000)
Cr To Customer a/c (1000)

 ZFCOLLGEN

 ZFPISGEN

Dr CMS Chennai a/c


Cr To Remit in transfer a/c

 FB05

Dr HDFC bank a/c


Cr To CMS CHENNAI a/c

 CHEQUE BOUNCE ENTRIES

 ZFRCPT
Dr REMIT IN TRANSFER a/c
Cr To Customer a/c

 ZFCOLLGEN

 ZFPISGEN

Dr CMS Chennai a/c


Cr To Remit in transfer a/c
 FB05

Dr CUSTOMER a/c SPL GL (A) Posting key 09


Cr To CMS CHENNAI a/c

 F-32 – ARAP

 POSTING KEY

Normal GL

40 -Dr

50 – Cr

Customer

07 -Dr

09 -Cr

Customer advance

17 -Dr

19 -Cr

Advance entry

ZFRCPT => SPL GL “A” TAX CODE “18”

After invoice generation needs to do ARAP. Using T-code (F-32)

 KOTAK BANK

 ZFRCPT

Dr RIT a/c
Cr to client

 FB05

Dr kotak bank a/c

Cr RIT a/c

 F—03

Need to knock off RIT GL.

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