Accounts Receivable Policy: Cash Receipts

Screenshot of the first page of Accounts Receivable Policy Cash Receipts

This sample policy is designed to help organizations correctly deal with and record cash receipts.

Under this policy, bank lockbox deposits are delivered via courier to a company’s accounts receivable (AR) department at scheduled times on bank business days. The delivery includes wire payments, which are considered their own deposits. A few wire remits are submitted to the company via other means such as email. The bank duplicates this process with its own remits on most wires. In addition, each deposit is applied as a separate cash batch to simplify balancing.

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