Intercompany receivables

A receivable records what one trading entity charges another. Its header identifies the partner, issue and due dates, total, settled amount and state. Its lines show the description, quantity, price, revenue category and ledger account. Receivables Accountant prepares the record in Draft and uses the issue action to move it to Sent. The action guards the transition and records a Receivable Issue operation receipt before updating the status.

For a shared facilities charge, the issuing entity records the charge against the receivable partner and checks that the reference points to the paired payable. The two sides can then be inspected together during reconciliation. The receivable’s remaining balance and days past due give the receivables desk a direct follow-up cue. A sent charge with a balance still open belongs in the register until finance records the settlement and agrees how to mark the remaining amount.

• Drafting. Receivables Accountant checks the billing partner, line detail and account assignment before issue.
• Issue. The native action records the operation result and moves the draft receivable to Sent.
• Collection review. The team follows partial payment, overdue and paid states against linked settlement records.

Agree which entity raises each category of charge and which counterparty receives it. Define the reference convention used to compare the receivable with the other side’s payable. Choose how revenue categories map to ledger accounts. The category list is a working label; finance still needs to agree the accounting treatment for each charge. Assign an owner to review billing contact, terms and credit limit before issue.

Set a policy for updating a receivable after it has been sent. A changed charge should be visible to the reviewer, and a void should be a deliberate decision with supporting detail. Decide which records from a billing or bank system must be connected to confirm delivery and payment. The app records the issue action and settlement links; the team should specify the external handoff that tells the counterparty about the charge.

Start with a draft receivable whose line subtotal, tax and total have been checked. Receivables Accountant verifies the entity, billing partner and partner reference, then uses the issue action. Inspect the operation receipt and the Sent status. Senior Accountant pairs it with the corresponding payable by reference, counterparty and amount. A mismatch in tax or line detail should stay visible until the owners agree which record needs correction.

Record a partial settlement against the receivable and confirm that the remaining balance is still visible. Let a different sample pass its due date so the receivables desk can review the overdue queue. Controller should be able to inspect both examples without confusing an issued charge with a fully settled one. During the first operating cycle, reconcile the register to the owning billing records before finance relies on its totals.

• AR Invoice Register — Sent and open receivables with issue date and balance.
• Invoices by Status — Charges grouped by draft, sent, paid and exception states.
• Intercompany Receivables Overdue — Follow-up work for charges marked Overdue.

See receivable issue and settlement release.