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Accounts Receivable Process Flowchart

The document outlines an accounts receivable process flowchart for a company. It begins with a quotation being accepted or revised by a client. If accepted, a purchase order is issued along with a statement of account requesting a 50% downpayment. A sales order is then approved and production begins. Finished goods are delivered and an invoice is issued. If payment is not received within 30 days, a demand letter is sent to collect the remaining balance. The process ends once full payment is received and posted in the company's books.

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Geraldine Villareal
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18 views1 page

Accounts Receivable Process Flowchart

The document outlines an accounts receivable process flowchart for a company. It begins with a quotation being accepted or revised by a client. If accepted, a purchase order is issued along with a statement of account requesting a 50% downpayment. A sales order is then approved and production begins. Finished goods are delivered and an invoice is issued. If payment is not received within 30 days, a demand letter is sent to collect the remaining balance. The process ends once full payment is received and posted in the company's books.

Uploaded by

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

FLOWCHART OF PROPOSED ACCOUNTS RECEIVABLE (AR) PROCESS

QUOTATION

NO REVISION
ACCEPTED BY (SUBJECT FOR
CLIENT? APPROVAL)

YES

PURCHASE ORDER
(PO) FROM CLIENT

Indicate the ff.:


Client's order/s
STATEMENT OF Request for 50% downpayment (DP)
ACCOUNT (SOA)
Approval of Sales Manager & CEO/ President

YES

YES APPROVED BY NO
WITH 50% ISSUE NOTICE OF COLLECTION
SALES ORDER (SO) AR ANALYST? SETTLED?
DP? COLLECTION

NO

ATLEAST 2,500.00
PHP DP FOR NO
LAYOUT, DESIGN & APPROVED BY UNAPPROVED P.O.
MOCK UP PRES./ CEO? (END)

YES
For: FOLLOW UP
ENDORSED TO ENDORSED TO Raw materials; and COLLECTION
PRODUCTION PURCHASE ORDER
JOB ORDER (JO) PURCHASING (PO) Packaging materials needed
ASSISTANT & OFFICER
DIRECTOR
NO

ENDORSED TO POSTING IN NO YES


ENDORSED TO FINISHED TRANSMITTAL DELIVERY TEAM/ BOOKS/ IS REMAINING IS IT DUE MORE DEMAND LETTER
WAREHOUSE & GOODS FORM (TF) CLIENT TO RECOGNIZE BALANCE PAID? THAN 30 DAYS?
PRODUCTION (FG) RECEIVE FG SALES

YES
*Must secured signature from clients upon delivery
**In case some of client’s orders are still work in process (WIP), that
portion will be temporarily recorded as Advances to Customers *Based on agreement and BIR Benchmark
(Liabilities of HBC) and will adjust once delivered. *Attached proof of payment
SALES INVOICE (SI)/
ACKNOWLEDGEMENT
RECEIPT (AR)

POSTING IN
BOOKS/ FOR FILING
RECOGNIZE (END)
PAYMENT

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