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Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127

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BuyFindarrow_forward

Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127
Textbook Problem

What is the billing/accounts receivable/cash receipts (B/AR/CR) process?

Summary Introduction

To explain: The billing/accounts receivable/cash receipts (B/AR/CR) process.

B/AR/CR process: It is an accounting process with an interacting structure of different process supporting the decision-making activities of the financial managers.

Explanation

The billing/accounts receivable/cash receipts (B/AR/CR) process:

It is an interrelating structure of different elements including the people, control plans to handle the following activities. They are:

  • The repeating work activities of the credit department, accounts receivable, and the cashier.
  • Supports the decision-making of the financial managers.
  • It assists in preparing the internal and external reports.

The B/AR/CR process finishes the order-to-cash process by:

  • Billing customers.
  • Management of customer accounts.
  • Securing and recording the payment of goods or services sold.

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