Making Entries In to Accounts Receivable
Posted by Steven in Making Entries In to Accounts Receivable
In the last post we had a brief about the control points and now we are going to discuss how the entries are being made in to the accounts receivables. Making entries in to the A/R is easy as one, two , three. 
1 Post each transaction to the customers individual account.
2 Summarize those transactions and create an A/R Sub Ledger
3 Post those entries to the A/R section of the general ledger and any additional accounts designed to offset receivables.
Automated systems often do this part of their function , thus avoiding the error of additional or incomplete entry information. If the entries are posted by hand, remember to follow each of three steps mentioned above to avoid tripping over system or its components and as these entries are made , note that different types of entries require some different considerations.
1 Post each transaction to the customers individual account.
2 Summarize those transactions and create an A/R Sub Ledger
3 Post those entries to the A/R section of the general ledger and any additional accounts designed to offset receivables.
Automated systems often do this part of their function , thus avoiding the error of additional or incomplete entry information. If the entries are posted by hand, remember to follow each of three steps mentioned above to avoid tripping over system or its components and as these entries are made , note that different types of entries require some different considerations.
