Page 17 - Participant Guide - Unanet GovCon Closing a Fiscal Period (2)

Accounts Receivable

Accounts Receivable represents the amount of money owed to a Company by its
debtors (customers). This amount is recorded as an asset on the Company's balance
sheet and should be reconciled to account for items recorded through Financial
Documents other than Customer Invoice and Customer Payment document types.

Verify with the AR dept that all customer payments and deposits have been
processed for the period. Also, confirm that cash receipts match the balance in the
bank.

Accounts Receivable Aging Report - shows the amount currently receivable from
customers (including the number of days past due) for customer invoices (net of
payments and adjustments applied to the invoices). The total on this report should
match the ending balance on the General Ledger of this account for the Closing Fiscal
Period.

LESSON 2: SUBLEDGERS
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