The account receivable spreadsheet template is used to record, track, and control the account receivables of a company. The account receivables are the tangible current assets of a business.
There are many types of company assets. The valuation of assets is very important for the development of a company balance sheet. The total assets, total liabilities, and total equity of a company are recorded on the balance sheet.
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Moreover, the valuation of the tangible assets of a company is made. However, there are some intangible assets of a company like brand name, goodwill, patent, and trademarks. These assets can’t be valued and included in the balance sheet of a company.
Importance of a Company Account Receivable Spreadsheet:
There are several benefits of using a company accounts receivable spreadsheet. It works as a primary sheet to calculate the total account receivables of a company. So, the total assets of a company can be calculated to develop a balance sheet.
Moreover, the account receivables help to track the amount of money pending at customers’ end. It’s a fixed capital that is stopped at one end. Therefore, the company has to continuously monitor the account receivables of each company to verify the credit limits. Thus, the decision to dispatching more product quantity made on this basis.
Furthermore, the accounts receivables spreadsheet allows the company to check credit limits. So, the reminders can be sent to receive the pending payment.
Essential Elements of an Account Receivable Template:
Thus, the following are the key components of accounts receivables spreadsheet template of any company:
- Company Name
- Sheet Title
- Current Date
- Total Receivables
- Invoices Date
- Invoice Number
- Custom Name
- Total Amount
- Due Date
- Payment Dates
Above are the essential components of a company general accounts receivable ledger. However, company wise spreadsheet templates can be made for the same information. Furthermore, the filter feature of the MS Excel can be used for filtering the data of a company.
How to make an Account Receivable Spreadsheet :
Template can be developed using MS Excel and Google Sheets. It’s a very basic sheet that has a header includes sheet title, total receivables, and current date. Useful template for managing loss and profit projection.
The body of the spreadsheet template has a table that includes all the headings mentioned above. The account receivable spreadsheet template is a very basic business sheet.
Usually, data entry operator updates and uses the sheet to send a reminder. It doesn’t require any professional skill of accounting or MS Excel to effectively use the skill. Thus, the spreadsheet template helps the data entry operator to manage the account receivable tasks effectively.