Managing the sums owed to a company by its customers for goods or services provided on credit involves a range of tasks. These typically include generating and sending invoices, tracking outstanding payments, processing incoming payments, and reconciling discrepancies. For example, one might be responsible for ensuring accurate invoice delivery, investigating and resolving payment delays, and maintaining detailed records of transactions.
Accurate and efficient management of these financial processes is critical for maintaining a healthy cash flow and ensuring the financial stability of an organization. Effective oversight contributes to timely payment collection, minimizes bad debt, and provides valuable data for financial forecasting. Historically, this function has evolved from manual ledger entries to sophisticated software solutions, reflecting the increasing complexity of modern business operations.