An Account Receivable can be defined as a process developed by companies, businesses, and organizations to professionally ask for cash they want to get from other companies, clients, or corporations. No doubt whenever businesses want to manage their accounts or collect all the receivable balance from clients and the management they’ll fill out a form and submit it for the consideration of such clients who in some such way are bound to pay their balances as a means of cash.
Many small businesses use accounts receivable ledgers to create balance sheet reports, purchase order statements, and other documents that detail cash flow in the company. However, these accounts receivable documents must be formatted properly for use on invoices and customer statements. Inaccurate account receivables can lead to inaccurate calculations and could potentially affect an invoice’s acceptance or non-acceptance.
Free Accounts Receivable Templates
We offer here previews and download buttons for our Free versions of Accounts Receivable Templates in MS Word or MS Excel to assist you quickly.
You can download this MS Excel-created Accounts Receivable Template from here.
Steps to Create Efficient Accounts Receivable Templates
Here are some tips on formatting templates for accounts receivable accounts. Follow the guidelines below to create tabular format accounts Receivable. Tips include:
- Include the balance amount in tabular format: Most accounts receivable forms include the total amount due for a particular account. To create an accurate receipt, include the full amount in tabular format.
- Add a Receivable Tab: This is the name of the Receivable tab found on Invoices. It typically displays the name of the account, the date the transaction occurred, and the balance of the account. This is a very helpful feature that you should not miss when creating forms.
- Split Invoices: Split Invoices are a common accounting term that describes the method by which the invoices are presented on the invoice. Typically, invoices are presented as a list of invoices and the receiver’s name. To format this type of form, divide the invoice into three parts and then create a tabular format for each part.
- Use the Text function: To change the way that the Receivables tabular format displays, click on the” Tab” link located on the “My Account” page. Select “Tab” and then enter a blank tabular format. Click “OK.” To change the way that the invoice is presented, select the “New Invoices” link from the Accounts Receivable Wizard.
- Use the Check box option: Select “Check Box” to display a check box on the Invoice Text Field tabular format. Use the “Change” button to change the value of the item being presented on the Invoice Text Field tabular format. The recipient will see a checkmark icon next to the check box and it will move the document to the “Checking a Second Time” field. To change the default setting for the Invoice Check box, right-click the check box and select “recalculate.”
- Open the newly created account template: Copy and paste the text on the template as exactly as it appears on the original document. Use the arrow keys to display the drop-down menu. Select “reek” (,) or comma (,) to indent the spaces between words. Indent the number of spaces that you want between the names of the companies or businesspeople in the document.
- Change the dollar amount of each line item in the account: Use the numeric keypad to enter the number of dollars that the company should pay first. For example, to create an account with a liability of $500, use the keypad to type $500 in place of a figure. If you need to make a number smaller than the number of characters allowed, use hyphens instead of slashes. To italicize a number, use the keypad’s jump button.
- Save the template: In case you would like to reproduce the form more than once, you can select the “print” link from the menu. On the Print Screen option, choose “print” and then follow the instructions. The document that you have created will be printed on a clean white sheet of paper. Copies can be made and given to the customer for his/her records.
With an accounts receivable form, it is easy to get started. However, it is important to understand that a simple form cannot serve all the purposes. It takes a lot of effort to develop and fine-tune an efficient form. You cannot afford to ignore the importance of this task. Therefore, you should get someone capable of creating accounts receivable forms from scratch.
