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Accounts Receivable

This process aims to streamline and improve the financial process by managing accounts receivable effectively.

Workflow template includes the following steps

Step 1 — Issue Invoice

Prepare and issue the invoice to the customer.

Due Date

Output Field Conditions

Step 3 — Follow up on Overdue Accounts

Follow up with the customer on overdue accounts.

Due Date

Output Field Conditions

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 crucial aspect of any business. It is a process that ensures the smooth flow of cash by managing the collection of payments from customers. The process involves several steps including issuing invoices, tracking payments, and following up on overdue accounts. This process is essential to maintain a healthy cash flow and avoid any financial bottlenecks.

Running an error-proof Accounts Receivable process can significantly improve the financial health of a business. It helps to prevent misplaced invoices, eliminates the need for toggling between legacy systems, and avoids delays or penalties due to late payments. It also gives businesses full control over collection attempts, payment verification, and deadlines. This in turn can lead to better customer relationships as it ensures timely and accurate billing.

Moreover, an efficient Accounts Receivable process can provide valuable insights into customer behavior. It can help identify trends, such as which customers are consistently late with payments, and provide data that can be used to improve collection strategies. This can lead to improved cash flow and overall financial stability.

In conclusion, the Accounts Receivable process is not just about collecting payments. It is a comprehensive system that involves tracking, managing, and analyzing customer payment behavior. By running an efficient and error-proof Accounts Receivable process, businesses can ensure a steady flow of cash, maintain good customer relationships, and ultimately achieve financial success.

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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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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