Free Accounts Receivable Template for Excel

Efficiently managing accounts receivable (A/R) is key to running a profitable accounting firm. A well-organized system can streamline your A/R management process, helping your firm stay on top of outstanding invoices and spend less time chasing down payments. To make this easier, we’re offering a Free Accounts Receivable Template designed for both Excel—ideal for accountants, bookkeepers, and small businesses.

This free template provides a simple yet comprehensive solution to manage your A/R with ease. Ready to download and customize, it enables you to track outstanding invoices, customer details, and payment statuses in a few quick clicks. Use it to enhance your workflow, avoid late payments, and maintain better control over your firm’s cash flow.

Free Accounts Receivable Template Download

Our Accounts Receivable Template is designed for ultimate flexibility. Whether you prefer to work in Excel, this template is compatible with both platforms. With a clean layout and intuitive fields, you can input all your necessary A/R data and manage your firm’s receivables with precision.

Here’s a preview of the template you’ll receive:

Key Elements to Include in an Accounts Receivable Template

An effective A/R template should capture all relevant details to keep your firm organized and ensure nothing falls through the cracks.

The CPACharge template includes the following elements, pre-built for your convenience:

Entry Date: The date the transaction or invoice is recorded
Customer Information: Name, address, and other contact details
Invoice Date: The date the invoice was generated
Invoice Number: A unique identifier for each invoice
Invoice Amount: The total amount due from the customer
Credit Terms: Payment terms agreed upon, such as “Net 30” or “Due on Receipt”
Due Date & Late Payment Fee: The due date for the payment and any applicable late fees
Balance Due: The remaining amount the customer owes
Invoice Status: Whether the invoice is outstanding, paid, or past due
Payment Records: Details of payments made, including dates and amounts

These fields ensure that all relevant information is easily accessible and trackable, giving you a comprehensive view of your firm’s outstanding invoices.

How to Use the Accounts Receivable Template

Once you’ve accessed the template, follow these steps to start managing your firm’s accounts receivable:

Input Customer Information: Begin by entering your client’s name, contact details, and billing address. If you’ve done a thorough client intake procedure, you should have all of this information on hand. We also have a
Add Invoice Details: Include the invoice number, date, amount, and the services or products provided.
Specify Payment Terms: Clearly indicate when payment is due and any applicable late fees.
Review for Accuracy: Double-check all details to ensure there are no mistakes before sending the invoice.
Track Payments: Record each payment as it’s received, including partial payments if necessary.
Follow Up if Payments Are Overdue: If an invoice remains unpaid after the due date, send a polite reminder or follow up with a phone call or email.

Tips for Customizing the Accounts Receivable Template for Your Firm’s Needs

While our template is designed to be used as-is, it’s also highly customizable, allowing you to tailor it to your firm’s specific needs. For example, you can make it your own by adding branding elements, such as your firm’s logo and company colors, to give the template a professional and cohesive look. You can also customize the column headers to better reflect the services or products your firm offers, ensuring the template speaks directly to your business operations.

For firms with more specific accounting needs, adding additional fields and calculations can make a big difference. Consider including fields for taxes, discounts, or any other relevant data points that will make tracking your receivables even easier. Finally, to streamline the payment process for both your firm and your clients, don’t forget to list the payment methods you accept, including options like CPACharge for convenient online payments. By personalizing the template, you’ll not only improve efficiency but also enhance your firm’s professional image.

Best Practices for Accounts Receivable Management

Now that you have a template to keep your A/R process organized and efficient, let’s explore some tips for making your firm’s A/R management even more effective. Here are a few best practices to consider:

Establish Clear Credit Policies

Establishing a clear understanding of payment terms and expectations during the intake process can help avoid miscommunication and boost client satisfaction. We recommend communicating your firm’s guidelines on credit limits, late payment fees, and other financial policies to ensure that everyone is on the same page from the beginning.

Offer Multiple Payment Options

Providing clients with multiple ways to pay can significantly speed up payment turnaround times and reduce friction in the A/R process. CPACharge enables accounting firms to accept credit card, debit card, and ACH payments, giving your clients convenient payment options—while helping your firm get paid faster.

Implement a Follow-Up System

A reliable follow-up system can prevent overdue payments from being overlooked. Automated reminders, for example, can help keep payments on track and reduce the likelihood of delinquent accounts.

Automate Invoicing

Automating your invoicing process not only saves time but also minimizes errors, helping firms maintain accurate records and invoice clients efficiently. Additionally, automation reduces time spent on manual data entry, allowing firms to put the focus back on their clients. CPACharge offers automated invoicing tools for accounting firms, making it easier to manage A/R and monitor outstanding balances.

Help Your Accounting Firm Get Paid Faster

An efficient accounts receivable system is just the start. CPACharge offers a solution designed to help accounting firms boost cash flow and streamline collections. With CPACharge, you can send digital invoices, accept online payments, and automate payment reminders—ensuring faster, more secure payments.

Simplify billing and improve cash flow today. Learn more about CPACharge and use our free template to take control of your firm’s financial management.