Accounts Receivable Process in PowerPoint
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This document outlines the accounts receivable process for a new project. It involves collecting a 50% deposit upfront via check or credit card. If payment is declined, alternative payment is sought. Upon completing the work, an invoice is sent for the remaining 50% balance. If not paid within 30 days, the account is sent to collections. Production only proceeds if payment is made upfront.
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Accounts Receivable Process in PowerPoint
- 1. Accounts Receivable Process START New Project / Signed Contract More Processes Available at The Process Shop. www.EQBsystems.com/smallbusinessprocesses.html Get More Tips on Twitter: @EquilibriaInc SAMPLE Collect 50% deposit in the form of check or credit card Deposit check into banking account or Process Credit Card Did Check Bounce or Credit Card Declined? YES NO If check, discontinue design work to seek alternative means of payment. If credit card, call client and attempt to collect new or correct info. Do design work. Submit invoice for final 50% payment. Are you now able to collect the payment? YES NO Discontinue work. Did client pay within the 30 day period? YES NO Production involved? Proceed to COLLECTIONS. YES NO Send quote with markup to client. Did client pay upfront? YES NO Do not continue until client pays. Deposit or Process Payment. END END