Accounts Receivable Audit Report

Above is a sample of the report out of the box. While you can see how it makes it very easy to view the organizations progress on collection on resolving outstanding invoices, the core process for getting the data is the real value and allows us to use this as a basis for offering a custom version if needed

Use cases:

  • Help auditors determine if the allowance for doubtful accounts was reasonable.
    In this case, auditors use a historical analysis of collections against year-end balances to determine reasonableness for the previous FY. For example if at the beginning of April they had already collected 75% of the outstanding amount, an allowance of 20% was deemed to high. Of course totals only tell a part of the story and so the detail in this report allows you to look at how one account may impact the overall collectability. Internal staff use this report to focus collection and cleanup efforts to ensure accounts are being managed correctly.

  • An organization that is looking to improve their days sales outstanding (DSO).
    In this case, an organization may want to establish new procedures and track new receivables separately from the historical balances. A typical A/R report dumps balances in over 90 into a big lump so it won't be as easy to distinguish between balances accumulating in your new AR policy rules vs your progress on collections of historical receivables. Because this report is based on the core receivable data, it can be customized to group status by numerous factors.

This complex crystal report analyzes all accounts receivable activity after a point in time and provides the reader with all activities on those accounts.

This report was originally built to help auditors determine if the allowance for doubtful accounts was reasonable.

Options include:
* Support for multiple Accounts Receivable accounts

* Filtering for outstanding balances only

>QuickBooks Desktop