Accounts Payable Or Receivable Clerk SOPs
Creating Standard Operating Procedures for your Accounts Payable Or Receivable Clerk work can be difficult and take time. That’s why we’ve created these example Accounts Payable Or Receivable Clerk SOPs so you can jumpstart your SOP creation process. We want to help you set up your Accounting systems and processes by taking these sample SOPs and building out your own SOPs template library. By having all your Accounting procedures in one place, your team will have the information they need at all times. Let’s look at some Accounts Payable Or Receivable Clerk SOP examples.
Accounts Payable Or Receivable Clerk SOP Examples
1. Invoice Processing SOP: The purpose of this SOP is to outline the steps for processing invoices received from vendors or customers. It includes verifying the accuracy of the invoice, matching it with purchase orders or sales orders, and entering the information into the accounting system. The scope of this SOP covers all invoices received by the company. The Accounts Payable or Receivable Clerk is responsible for following this SOP. Reference to other SOPs: Purchase Order Processing SOP, Sales Order Processing SOP.
2. Payment Processing SOP: This SOP details the procedures for processing payments to vendors or receiving payments from customers. It includes verifying the payment amount, applying it to the correct invoice, and updating the accounting system accordingly. The scope of this SOP covers all payments made or received by the company. The Accounts Payable or Receivable Clerk is responsible for following this SOP. Reference to other SOPs: Invoice Processing SOP, Bank Reconciliation SOP.
3. Vendor/Customer Setup SOP: The purpose of this SOP is to establish guidelines for setting up new vendors or customers in the accounting system. It includes collecting necessary information such as contact details, tax identification numbers, and payment terms. The scope of this SOP covers the onboarding process for new vendors or customers. The Accounts Payable or Receivable Clerk is responsible for following this SOP. Reference to other SOPs: None.
4. Aging Report Analysis SOP: This SOP outlines the steps for analyzing aging reports, which provide a snapshot of outstanding invoices and payments. It includes reviewing the report, identifying overdue invoices or outstanding payments, and taking appropriate actions such as sending reminders or initiating collection procedures. The scope of this SOP covers the regular analysis of aging reports. The Accounts Payable or Receivable Clerk is responsible for following this SOP. Reference to other SOPs: Invoice Processing SOP, Payment Processing SOP.
5. Credit Control SOP: The purpose of this SOP is to establish guidelines for managing credit limits and ensuring timely collection of outstanding payments. It includes assessing creditworthiness of customers, setting credit limits, monitoring payment patterns, and implementing collection strategies when necessary. The scope of this SOP covers the credit control process for customers. The Accounts Payable or Receivable Clerk is responsible for following this SOP. Reference to other SOPs: Aging Report Analysis SOP, Payment Processing SOP.
6. Month-End Closing SOP: This SOP outlines the procedures for closing the accounting books at the end of each month. It includes reconciling accounts payable or receivable balances, preparing financial reports, and ensuring all transactions are properly recorded. The scope of this SOP covers the month-end closing process. The Accounts Payable or Receivable Clerk is responsible for following this SOP. Reference to other SOPs: Invoice Processing SOP, Payment Processing SOP, Bank Reconciliation SOP.
7. Dispute Resolution SOP: The purpose of this SOP is to provide guidelines for resolving disputes related to invoices or payments. It includes investigating the issue, communicating with vendors or customers, and finding a mutually acceptable resolution. The scope of this SOP covers the resolution of disputes in accounts payable or receivable. The Accounts Payable or Receivable Clerk is responsible for following this SOP. Reference to other SOPs: Invoice Processing SOP, Payment Processing SOP.
8. Record Retention SOP: This SOP outlines the guidelines for retaining and organizing accounting records related to accounts payable or receivable. It includes determining the retention period for different types of documents, ensuring proper storage and retrieval, and complying with legal and regulatory requirements. The scope of this SOP covers the record retention process for accounts payable or receivable. The Accounts Payable or Receivable Clerk is responsible for following this SOP. Reference to other SOPs: None
Accounts Payable Or Receivable Clerk SOP Templates
Looking for SOP templates for your Accounts Payable Or Receivable Clerk work? We’ve got you covered. You can build out your company SOPs using the sample SOP information above (added to our template) or our team can put together a starter SOPs template based on your Accounts Payable Or Receivable Clerk work. Get in touch if you’ve got questions about the quickest way to build out your Accounting SOPs library.