This process flow focuses on the accounts receivable process. It details the various steps involved in credit review and credit limit granting, lock box deposits, credit card payments, wire transfers and ACH payment, applying mail-in checks, applying letters of credit, cash application, bad debt write off, and accounts receivable reserve. The document also includes related risks and controls.
This document can be used as a general guide to understand and review the process. Organizations should continuously update and monitor the processes included in this document to ensure that it reflects business operations.