What are some internal controls we like to see in the receivables area?
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What are some internal controls we like to see in the receivables area?
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Solution Summary
Five classic controls are mention and specific receivable controls are suggested.
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Suggestions:
The five classic internal controls can help in the receivables area.
1. Authorizations. Two particular authorizations can greatly improve controls in receivables: authorizing write offs and authorizing customers. By making sure all customers are real businesses and credit worthy, you reduce the risk of fake or non-paying customers. By authorizing write offs, you make sure ...
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