![]() ![]() Time-sheet should record all of the staff the professional activities, and to be able to records the time-sheet engagement letter or contract reference is mandatorily required. Accounts payable: What are the Key Different? To ensure that all service providers were charged, the company should have a good procedure of engagement letter or contract which links to time-sheet or time charge. Yet, whatever reason, as you are the accountant or in the accounting team, you have to make sure that all of the service providers were a charge. Failing to charge or register might be because of intentional or unintentional. The final result is the company making a loss. If the company failing to charge or register, there will be lost and that means there are no account receivable records too. ![]() The company that sells services might be difficult to manage its account receivables rather than the company that selling physical products.īase on experience, many of the service providing company feel doubt that not all of the services that provide to their customers by their staff were charged and registered. The main objective of these trips is to manage the above issues. Yet, unrecorded accounts receivable might be the high cost bigger than above as the result of fraud. General speaking, large amount and long-term of account receivable are the cost of the company and minimize accounts receivables would help the company not only solve cash shortage for its suppliers but also generate additional income through interest income. The following are some tips that could help you to manage accounts receivables in your company if it is a service providing company. Cash flow problems are the major issue in every company well-managing account receivables would minimize these problems.
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