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The Accounts Receivable Process at Hawes Creamery is depicted in the flowchart overleaf. Write a process narrative describing what is happening in this process. Give
The Accounts Receivable Process at Hawes Creamery is depicted in the flowchart overleaf. Write a process narrative describing what is happening in this process. Give your answer as EIGHT (8) numbered steps. Customer makes purchase Is this a recurring -Yes- Create invoice from a sale? template No Create customer invoice Print and send customer invoice Did the customer Yes Apply early payment pay on time? discount, if applicable Assess finance charge, it applicable Print and send finance charge invoice, it Receive and apply Yes applicable payment No Print statements applicable Record deposit Did the customer pay? NO Print the AR aging Schedule Report Is this invoice Write off sale as uncollectable? Yes Print AR uncollectable reports nocess is complete Figure 1: Accounts Receivable Process at Hawes Creamery
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