The project deals in “account receivable management at Tata Steel”. Receivable management is one of the most important aspects of the organization, as it deals with the management of the outstanding. The profit of the company mainly depends on the accounts receivables. Therefore it needs a careful analysis and proper management.

1. Accounts Payable vs. Accounts Receivable. This subset of accounting software focuses on two distinct accounting areas that tend to be grouped together. Accounts payable are liability accounts that track what an organization owes to a 3rd party. Accounts receivable are asset accounts that track what 3rd parties owe to the organization.
2. Account groups define layout of all parts of the Customer Master Record. Customer Accounts are stored in various Account Groups so that they can be organised and managed more easily. The Accounts in an A/C Group usually have similar characterstics. Eg:Separate A/C group for domestic customers,abroad customers,affliated customers,1 time.
3. Accounts receivable confirmations mainly serve to prove the existence assertion. The existence assertion is management's claim that the accounts receivable that are recorded on the balance sheet are real. The logic is that if a customer will readily admit to owing a balance to your firm, the account receivable probably exists.

In this article, you’ll find the most comprehensive list of free, downloadable accounting templates for a variety of use cases.

Included on this page, you’ll find an accounting journal template, accounts payable template, accounts receivable template, and more.

Accounting Journal Template

An accounting journal is an accounting worksheet that allows you to track each of the steps of the accounting process, side by side. This accounting journal template includes each step with sections for their debits and credits, and pre-built formulas to calculate the total balances for each column.

We’ve also included links to similar accounting templates in Smartsheet, a spreadsheet-inspired work management tool that makes accounting processes even easier and more collaborative than Excel.

See a head-to-head comparison of Microsoft Excel and Smartsheet

Discover how these two tools compare across five factors, including: work management, collaboration, visibility, accessibility, and integrations. Plus, see a quick demo of Smartsheet.

Accounts Payable Template

When making large purchases for items like inventory, supplies, or equipment it may be necessary to do so on credit, which could result in multiple monthly payments made to different vendors or suppliers, due on different dates. Using this accounts payable template will help to keep track of what you owe to each party, and will provide a quick look at the total outstanding balances and due dates.

Accounts Receivable Template

Every company should have a process in place to manage the outstanding balances owed to them. Using this accounts receivable template will help streamline the process by providing a place for you to track the amounts due to your company and help prioritize collection efforts.

Bill To Invoice Template

For any company providing goods or services, using an invoice that looks professional and can be customized to fit your needs, is important. This simple bill template will help you get started quickly. Add your company details and payee information, provide an itemized list of the description, quantity, and price of each item you are charging for, and include directions on how your customer may remit payment.

Bill of Lading Template

A bill of lading is a document detailing how goods are being shipped from a seller to a recipient. It includes details about the items being shipped, the quantity of items included in the shipment, and the destination address. Use a bill of lading template to ensure you complete this document for each shipping transaction. This template includes a signature section that should be signed by you, then the shipping company, and finally the recipient, so that if the shipment is lost, the signature detail will help identify at what point it was lost and who was liable.

Billing Statement Template

A billing statement is helpful if you receive regular bi-monthly or monthly payments from your customers. Use this billing statement template to track customer invoices, account details, and billing status, all in one location. Additionally, this template looks professional and is customizable to match your needs.

Cash Flow Statement Template

A cash flow statement is important to provide a good picture of the inflow and outflow of cash within your company. It shows where the money came from (cash receipts) and where the money went to (cash paid). Use a cash flow statement template, in conjunction with your balance sheet and income statement, to provide a comprehensive look into the financial status of your company. This cash flow template includes two additional worksheets to track month-to-month and year-to-year cash flow.

Cash Flow Forecast Template

Creating a cash flow forecast can be helpful for managing your business’ finances. It enables you to estimate how much money your business will make and spend at any given point, and will allow you to take the appropriate steps to ensure that your cash outflow is not more than your inflow. Use a simple cash flow forecast template to get started quickly. Be sure you include all income including revenue and investments, and account for all expenses including fixed costs.

Expense Report Template

A simple expense report is helpful to keep track of business expenses for an individual, department, project, or company, and provides a quick way to document and track expense details. You can require that your team submit monthly expense reports or as the expenses are accrued. Use this expense report template to quickly input specific expense details and obtain approvals as needed.

Income Statement Template

An income statement, or profit and loss statement, provides a look into the financial performance of a company over a period of time. The statement provides a summary of the company’s revenue and expenses, along with the net income. Use this income statement template to create a single-step statement that groups all revenue and expenses, and is helpful for businesses of all sizes.

Payment Schedule Template

You will likely have multiple bills to pay in a month, to different companies and on different dates. It is important to have a way to track when specific bills are due, the amount that is due, and to whom. Use a simple payment schedule template to track these details. This payment schedule template will help you remember when each bill is due and be able to budget accordingly.

Simple Balance Sheet Template

A simple balance sheet template provides a quick snapshot of a company’s financial position, at a given moment. Use this balance sheet template to summarize the company’s assets, liabilities, and equity, and give investors an idea of the health of the company.

Travel Itinerary Template

Whenever you or your team are scheduled for business trips, it’s helpful to have a travel itinerary that lists the details for transportation, lodging, car rentals, meetings and more. Use a simple business travel itinerary template to keep all of these details in one location, and be able to share the details with important stakeholders.

Save Hours of Manual Work with Smartsheet

Smartsheet is a spreadsheet-inspired work management tool with robust collaboration and communication features. Its pre-built accounting templates make it even easier to create reports, track progress, manage documentation, and quickly organize the details. And, Smartsheet offers robust templates that makes it simple to get started right away and share status with your team.

Gantt charts are automatically created and auto-adjust every time you change task information, so there is little setup required when you want to visually show progress. You can easily switch between spreadsheet, Gantt, and Calendar views with team members or external collaborators, without emailing static spreadsheets back and forth.

And, with Smartsheet’s powerful collaboration features like discussions, reminders, and attachments, you can store all documentation in one place for everyone to view, access, and make changes in real time.

See how easy it can be to manage your accounting processes in Smartsheet.

Invoicing should be a perfectly measurable task

The accounts receivable management service offered by CTI Soluciones will help you benefit from expert, proactive and preventive actions to improve collection from your customers and prevent fraud and default.

At CTI we are aware that each business is unique. Therefore, our services have been conceived with flexibility at their core, so that they can completely adapt to the needs of your business. We can take on responsibility for the entire collection cycle, acting as an extension of the financial divisions of your business, or else as specific areas within them, integrating our actions with your own collection processes.

Benefits of the accounts receivable management service

• Improve profitability and increase the benefits of your business by reducing the finance cost derived from delays in collection.
• Increase your business liquidity by reducing the cost of external financing.
• Preserve your business-customer relationship by offering different alternatives for detection, treatment and resolution of inconsistencies.
• Reduce your business bad debt losses and banking costs derived from returns and overdrafts on debt collection.
• Optimise accounts receivable management both in Spain and overseas.

How does the accounts receivable management service work?

Analysis of financial risk.

Structuring, checking and correction of information

Contact with the debtor to cross-check the invoice information and thus prevent potential inconsistencies at the time of payment that may cause delays.

Monitoring of customers in order to detect company changes, legal incidents or other negative information.

Contact with the debtor by phone before the due date to remind them of the next invoices to become due and thus anticipate payment.

Amicable management of all potential late payments in order to recover the amount due.

CTI Soluciones relies on a team of financial risk analysts who will efficiently manage your customer portfolio, minimising the risk of default by your debtors.

Based on the documentation and information provided by the customer, CTI Soluciones develops management strategies by arranging the portfolio in such a manner as to optimise management, and by checking that the received documentation is complete and correct for management:

• Portfolio allocation based on information criteria such as: due dates, amounts, customers with previous debts, etc.
• Control of incidents and pending documentation.
• Tracing of missing or hard-to-find debtors.

In direct contact with the debtor, the information contained in the issued invoice is cross-checked, so as to confirm that the customer recognises the invoice, its content and format as correct.

This contact will allow confirming the customer’s acceptance or non-acceptance, avoiding any potential inconsistency or disagreement at the time of payment that may cause delays.

We keep permanent track of customers’ situation by activating follow-ups.

Customer follow-up allows taking immediate notice of any relevant company change that may negatively affect debt collection, including legal incidents as well as any other event that may lead to their inability to honour outstanding payments.

Prior to each invoice due date, the debtor is contacted by phone.

The aim of this process is to remind the debtor of the due date proximity, and of the relevant amount, for the customer to be aware of the need to pay the invoice on the specified date, gathering information, if applicable, on any expected non-payment, and its reasons or causes.

In case of any incident arising during the payment process after the relevant due date, CTI will take the necessary steps to enquire into the reasons for non-payment, and to find possible ways to cancel the debt.

Technical resources for proper accounts receivable management

Checkbook 2 6 3 – Manage Personal Checking Accounts Receivable Accounts

Supports different management systems based on the portfolio to manage and the strategy to implement, applying specific dialling rules for each portfolio or simultaneous inbound and outbound calls, among other features.

Software used to conduct thorough follow-up on customer debt management, including display of the debtor’s complete data and the relation among several debtors, updated payment schemes, invoice details and proceedings and call history.

CTI Soluciones offers your business an online access platform through which the user can initiate the service by following some simple steps:

• Entering invoices
• Selecting the management procedure
• Attaching documentation

Through this platform, you can get to know the status of your management processes at all times, receive alerts, retrieve and attach documentation and generate detailed reports. These reports allow for permanent and up-to-date follow-up on ongoing management processes and the status of each account.

Would you like to set up a meeting to obtain more information?

PLEASE READ THE INFORMATION BELOW CAREFULLY

Pursuant to the General Data Protection Regulation (GDPR), Organic Law 3/2018, of 5 December, on personal data protection and guarantee of digital rights, and Law 34/2002, of 11 July, on the information society services and e-commerce, we inform you the following:

WHO IS THE CONTROLLER OF YOUR PERSONAL DATA?

CTI TECNOLOGÍA Y GESTIÓN, S.A. (S.M.E.) –CTI–, holder of Taxpayer ID (NIF) A28065480, with registered offices at Avenida de la Industria, 32, Alcobendas, Madrid, phone number 91 3728335, and e-mail: info@ctisoluciones.com.

Additionally, CTI has a Data Protection Officer, who may be reached at the following e-mail address: dpd@ctisoluciones.com.

The user warrants that he/she is over 16, and shall be exclusively liable for this representation and for proper access and use of the website, subject to these terms and conditions.

WHICH DATA IS PROCESSED AND FOR WHAT PURPOSE?

When a website user requests information about some service, fills in a contact form, or subscribes to our newsletter, he/she may be providing the following personal data: name and surname of the contact person, phone and e-mail. Similarly, users’ cookie and browsing data may be processed with the purpose of improving their accessibility, analysing their browsing habits and customising their experience, and showing adverts according to their interests pursuant to our cookie policy, which must be accepted as a previous step to browse our digital platform.

From our customers and providers, we request:

• In case of an artificial person, name and surname of one or several contact persons (depending on their role), position at the company, corporate e-mail and contact phone.
• In case of a natural person, the following data will be additionally requested: NIF (Taxpayer ID), postal address, and personal bank account data.

CTI does not gather data regarded as especially sensitive under the GDPR, such as race or ethnic origin, political opinions or philosophical or religious beliefs, trade union membership, health, sexual activity or orientation, and biometric or genetic data.

The data subject is expected to provide true, accurate, complete and updated data, and shall be exclusively liable for any damage or loss directly or indirectly caused by breach of this obligation.

GUARANTEES REGARDING THE PROVIDED DATA

The user warrants that the data provided by him/her is true, accurate, complete and updated, and shall be exclusively liable for any damage or loss directly or indirectly caused by breach of this obligation. Consequently, the user must report any change in his/her personal data to CTI for proper management, maintenance and control of the service.

If the data provided by a user belongs to a third party other than the person providing the data, the user must inform the third party about the content of this Policy and obtain their authorisation to provide their data to CTI.

The personal data collected by CTI is necessary to answer your request or execute the service agreement, and therefore, providing it is mandatory, since if such data regarded as necessary were not provided, CTI would not be able to process the user’s participation in the relevant website service.

LEGAL BASIS FOR PROCESSING

Personal data is collected exclusively for the purposes specified in this Privacy Policy, and on the following legal bases:

• Executing a contract between you and CTI or applying pre-contractual measures
• Answering any request submitted by the data subject.

CTI’s legitimate interests:

• Customers: CTI may conduct or distribute commercial and/or advertising actions or information, by any means, including electronic or similar means, in relation to products or services being similar to the acquired services, pursuant to Law 34/2002 on information society services (LSSI, in Spanish). You may object to such processing based on legitimate interests by following the steps detailed in the “Rights of data subjects” clause of this Privacy Policy.
• Non-customers: CTI may process your contact data (as needed for professional contact), and data of individual entrepreneurs or independent professionals with the purpose of maintaining any relation with the legal entity for which the data subject works, or in case of individual entrepreneurs or independent professionals, to contact them in such capacity and not as natural persons.

-Consent:

• To subscribe to CTI’s newsletter and receive both this and other commercial communications from CTI that may be of your interest.
• Non-customers: To receive information and advertising on CTI products and services, by any means, including electronic or similar communications.

-Fulfilling a legal obligation

• Assisting the data subject in exercise of his/her rights under Articles 15-22 of the GDPR, and processing any received request within a one-month term pursuant to the GDPR, Organic Law 3/2018, of 5 December, on personal data protection and guarantee of digital rights, and any other applicable legislation on data protection.
• Disclosing information to public, regulatory or government authorities as and when required by any law, local rule or regulation.

DATA STORAGE TERM

If you are a customer, we will keep your personal data as long as our contractual relationship remains in effect and you do not request its erasure. After termination of the contract, CTI will keep your personal data blocked for the maximum legal term, which, for accounting and tax purposes, is 6 years, pursuant to Section 30 of the Commercial Code. On expiration of that term, your data will be destroyed.

Data provided by the user through forms or requests for service will be kept for 1 year since the last time the user confirms his/her interest, renewing calculation of that term on each new contact or relation with CTI. However, if the user has given his/her consent to be sent commercial information, his/her data will be kept as long as he/she does not object to it.

WITH WHOM WILL WE SHARE YOUR DATA?

We will not transfer your personal data to third parties, unless required by law.

- Service providers outside the European Economic Area (International Data Transfers - IDT). In these cases, CTI requires them to apply the necessary measures to protect personal data and, with that purpose, we use EU-approved mechanisms to carry out transfers.

• Mailchimp, a company based in the US, is responsible for sending electronic communications and adheres to the Privacy Shield principles.

RIGHTS OF DATA SUBJECTS

The user may exercise the rights of access, rectification, erasure, restriction of processing, objection and/or portability with regard to the personal data provided to CTI.

He/She may also revoke his/her consent at any time. However, please be aware that after honouring your revocation request, we will still be able to contact you whenever necessary to fulfil our legal obligations, or else perform the contract you may have with us.

To correctly exercise your rights, please send your request together with a copy of your National ID (DNI) or equivalent official document as proof of your identity, writing to: CTI Tecnología y Gestión S.A. (S.M.E.) Avda. Industria, 32, 28108 Alcobendas (Madrid), or by e-mail to: dpd@ctisoluciones.com.

Checkbook 2 6 3 – Manage Personal Checking Accounts Receivable Receivables

COMPLAINTS

Checkbook 2 6 3 – Manage Personal Checking Accounts Receivable Spreadsheet

If you think we have not handled your personal data in compliance with the laws, you may contact the Data Protection Officer by e-mail to: dpd@ctisoluciones.com – Subject: Reclamación Protección de Datos (Data Protection Complaint).

Checkbook 2 6 3 – Manage Personal Checking Accounts Receivable Turnover

Additionally, you may obtain more information on your rights, and even file a formal complaint, at the Spanish Data Protection Agency (AEPD, in Spanish), located at C/Jorge Juan, 6, 28001, Madrid (www.aepd.es).