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Accounts Receivable

The Accounts Receivable process involves evaluating and extending credit to clients, collecting timely payments for services provided, and maintaining healthy cash flow.

Workflow template includes the following steps

Step 1 — Credit Evaluation

Evaluate the creditworthiness of clients before extending credit. This involves assessing the client's financial stability and ability to repay the credit.

Due Date

Output Field Conditions

Step 2 — Credit Extension

Extend credit to clients based on the evaluation. This involves setting credit limits and terms and conditions for the repayment of the credit.

Output Field

Step 3 — Invoice Generation

Generate invoices for the goods or services provided to the clients. The invoice should include details such as the amount due, due date, and payment terms.

Due Date

Output Field Conditions

Step 4 — Payment Collection

Collect payments from clients in a timely manner. This involves following up with clients for payment and handling any issues or disputes related to the payment.



Step 5 — Record Maintenance

Maintain records of all transactions. This involves recording all credit extensions, payments received, and any outstanding amounts in the company's accounting system.

Output Field

This workflow template can be used as is or edited, added to and expanded upon. You can delete steps you don’t need or add steps specific to the operations of your company.

Streamline your business process by deploying our library workflow template
and then customizing it to best meet your needs

The Purpose of Accounts Receivable

The Accounts Receivable process is a critical component of a company’s financial health. It involves the management of money owed by customers to the company for goods or services sold on credit. This process plays a vital role in maintaining the cash flow of the organization, thereby ensuring its financial stability. By effectively managing accounts receivable, companies can reduce the risk of bad debts and improve their cash position. This process also includes extending credit to clients, which can help in attracting and retaining customers, thereby enhancing the company’s market position. However, it is essential to evaluate the creditworthiness of customers before extending credit to avoid potential losses. The Accounts Receivable process also involves the timely collection of payments from customers, which can help in improving the company’s liquidity position. By ensuring timely collection, companies can reduce the risk of cash flow problems and ensure that they have sufficient funds to meet their financial obligations. The Accounts Receivable process also involves maintaining records of all transactions, which can help in tracking the company’s receivables and identifying any issues or discrepancies. This can help in ensuring accurate financial reporting and compliance with regulatory requirements.

Streamline your business process by deploying our library workflow template
and then customizing it to best meet your needs

Let Pneumatic Build a Unique Template for You

Pneumatic revolutionizes workflow management by leveraging AI to create custom workflow templates based on user-supplied prompts. Here’s how it works: you provide a brief description of the business process you need. Pneumatic’s AI algorithms analyze the prompt to understand the requirements, and specific tasks involved. Within minutes, a bespoke workflow template is generated in perfect alignment with your specific needs and requirements.

With Pneumatic’s AI-powered workflow template generator, you can engage in full-fledged business process discovery: just describe what’s going on at your company and Pneumatic will formalize it for you as a workflow template.

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for this business process based on your prompt

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You can further customize the generated workflow template by inviting team members and assigning tasks to them, setting deadlines for each workflow and task, and adding conditions and variables to direct the flow of execution and information through each workflow.

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