Sample Package

Accounting
Policies, Procedures & Forms
Quick Facts
This manual includes 570 Pages of content: 38 pre-written policies & procedures 54 accompanying forms Sample Accounting Manual and a Guide to Embezzlement Prevention What you will get, when you buy: 1. Editable Microsoft Word files for immediate download. 2. Optional hardbound book(s) containing all content.

This Sample Package contains: A: Overview of the Sample Package (1 page) B: Table of Contents (11 pages) C: Policy, Procedure, and Form Set (7 pages)

View Product Details Online: http://store.bizmanualz.com/Accounting-Procedures-Manual-p/abr31m.htm

Dear Business Executive: Thank you from downloading this sample content from Bizmanualz. Whether you are looking to write policies and procedures, or are trying to manage and share them, Bizmanualz has the right solution. Prewritten Policies and Procedures Templates Over the last decade, Bizmanualz has helped thousands of companies, in the United States and abroad, implement best practices through pre-written policies and procedures templates. Written by expert authors and editors, these prewritten procedures are general enough to fit most business situations. And, since all content is provided in Microsoft Word files, you can easily edit and customize the documents to fit your own specific needs. Onpolicy Procedures Management Software Onpolicy is our newest offering and simplifies your policy and procedures management by providing an easy online interface to manage, control and share your important documents. Onpolicy is a Software-as-a-Service (SaaS) solution, so there is nothing to install or maintain. Focus on what is important to you ensure that your documents are up-to-date, are used as intended, and provide the compliance evidence that your auditor requires. Sample Policy Procedure This sample package contains a complete table of contents and a complete policy, procedure and form(s) set. The purpose is to give you a clear idea of how our policies and procedures are written, formatted, and presented for you to customize. If you have any questions after reading this sample package, please feel free to contact us online or call us at 1-800-466-9953 (toll free, US only) or at 314-863-5079, or send an email to [email protected]. Thanks again.

Each policy/procedure template includes: Policy Purpose Scope Responsibilities Definitions Procedure Activities, references & forms where applicable. TERMS & DEFINITIONS Manual: A system of approved policy statements and corresponding procedural guidelines and supporting forms that direct an organization toward its operational goals. Policy: A stated course of action with a defined purpose and scope to guide decision-making under a given set of circumstances within the framework of corporate objectives, goals and management philosophies. Procedure: A series of prescribed steps followed in a definite regular order which ensure adherence to the guidelines set forth in the Policy to which the Procedure applies Activity: An action, element or decision representing a prescribed step in the Procedure process. Task: A detailed component of an Activity specifying required behavior to complete the activity. Form: A pre-formatted document containing instructions and placeholders for data entry to monitor progress through a particular Procedure and to ensure proper recordkeeping.

Best regards,

Chris Anderson Managing Director, Bizmanualz St. Louis, Missouri

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Accounting Policies, Procedures & Forms Table of Contents

Introduction ......................................................................................................... Section 1 Manual Preparation............................................................................................ Section 2 Accounting Manual............................................................................................. Section 3 PROCEDURES General & Administrative .................................................................................. Section 4 G&A101 Chart Of Accounts
Activities

1.0 2.0
Forms

Design Of Accounts Description Of Accounts

G&A101 Ex1 Account Codes G&A102 Files And Records Management

Activities

1.0 2.0 3.0

References

Filing System Record Retention And Long-Term Storage Record Destruction Health Insurance Portability Accountability Act (HIPAA) Age Discrimination In Employment Act (ADEA) Americans with Disabilities Act (ADA) Civil Rights Act of 1964 Employee Retirement Income Security Act (ERISA) Employee Polygraph Protection Act Equal Pay Act Executive Order 11246 Fair Labor Standards Act (FLSA) Family and Medical Leave Act (FMLA) Immigration Reform & Control Act (IRCA) Occupational Safety & Health Act (OSHA) Rehabilitation Act of 1973 Right To Financial Privacy ACT Guide to Record Retention Requirements

A. B. C. D. E. F. G. H. I. J. K. L. M. N. O.

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P.
Forms

IRS Revenue Procedure 98-25 Records Retention

G&A102 Ex1 Master File Guide Index G&A102 Ex2 Records Retention Periods G&A103 Travel And Entertainment
Activities

1.0 2.0 3.0 4.0

Forms

Travel Arrangements Expense Guidelines Expense Report Preparation And Reimbursement Additional Information Resources

G&A103 Ex1 Travel Arrangements Form G&A103 Ex2 Travel And Miscellaneous Expense Report G&A103 Ex3 Entertainment And Business Gift Expense Report G&A104 Management Reports
Activities

1.0 2.0 3.0 4.0 5.0 6.0 7.0

References

Preparation Guidelines Daily Flash Report Weekly Financial Report Six-Week Cash Flow Report Budget Vs. Actual Report Financial Statements Department Reports Federal Accounting Standards Board (FASB) Generally Accepted Accounting Principles (GAAP)

A. B.
Forms

G&A104 Ex1 Department Reporting Summary G&A104 Ex2 Daily Flash Report G&A104 Ex3 Weekly Financial Report G&A104 Ex4 Six Week Cash Flow Report G&A104 Ex5 Budget vs. Actual Report G&A104 Ex6 Financial Statements G&A105 Period-End Review & Closing
Activities

1.0 2.0 3.0

Closings Preparations Balance Sheet: Assets Balance Sheet: Liabilities And Stockholders' Equity

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4.0 5.0 6.0

Income Statement: Revenues Income Statement: Expenses Financial Ratio Analysis

G&A106 Controlling Legal Costs

Activities

1.0 2.0 3.0

Arbitration Legal Services Legal Billings

G&A107 Taxes And Insurance

Activities

1.0 2.0 3.0 4.0 5.0 6.0 7.0

References

Organization Fees And Taxes Business Activity Fees And Taxes Payroll Fees And Taxes Excise Taxes Other Taxes And Credits Tax Payments Insurance Trust Fund Recovery Penalty

A.
Forms

G&A107 Ex1 Federal Tax Calendar G&A108 Property Tax Assessments

Activities

1.0 2.0

Review Of Assessments Appealing Of Assessments

G&A109 Confidential Information Release

Activities

1.0 2.0 3.0

Forms

Financial Information Requests Personnel Information Requests Credit Reference Inquires

G&A109 Ex1 Non-Disclosure Agreement G&A110 Document Control

Activities

1.0

Document Distribution

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2.0 3.0 4.0

Forms

Document Revision Procedure and Work Instruction Format Temporary Changes

G&A110 Ex1 Request For Document Change (RDC) G&A110 Ex2 Document Change Control Cash ...................................................................................................................... Section 5 CSH101 Cash Drawers And Credit Cards
Activities

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Forms

Opening Transactions Special Tender Items Closing Chargebacks And Disputed Transactions Security Precautions

CSH101 Ex1 Daily Cash Report CSH102 Cash Receipts And Deposits
Activities

1.0 2.0 3.0

Forms

Receiving Cash Drawers Application Of Accounts Receivable Deposit

CSH102 Ex1 Deposit Log CSH103 Problem Checks

Activities

1.0 2.0 3.0 4.0

References

Unsigned Checks Partial Payment Checks Marked "Payment In Full" Returned Checks Redeposited Checks Uniform Commercial Code (UCC) Bad Check Law

A. B.
Forms

CSH103 Ex1 Bad Check Notice

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CSH104 Wire Transfers

Activities

1.0 2.0
References

Incoming Wires Outgoing Wires FRB Reg D: Reserve Requirements Of Depository Institutions FRB Reg E: Electronic Fund Transfer Act

A. B.
Forms

CSH104 Ex1 Bank Wire Instructions CSH104 Ex2 Wire Transfer Form CSH105 Check Signing Authority
Activities

1.0 2.0 3.0

Forms

Authorized Check Signers Changing Check Signers Authority Levels

CSH105 Ex1 Check Signing Authority Log CSH106 Check Requests

Activities

1.0 2.0
Forms

Check Origination Check Stop Payment

CSH106 Ex1 Check Request CSH107 Bank Account Reconciliations

Activities

1.0 2.0 3.0 4.0 5.0

Forms

Bank Statement Preparation Computerized Format Manual Preparation And Reconciling Items Computerized Preparation And Reconciling Items Adjustments And Other Troubleshooting

CSH107 Ex1 Sample Bank And Book Balances Reconciliation Inventory & Assets .............................................................................................. Section 6 INV101 Inventory Control
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Activities

1.0 2.0 3.0 4.0 5.0

References

Inventory Stocking And Storage Inventory Usage Inventory Protection Inventory Obsolescence Inventory Disposal Food And Drug Administration (FDA) Food Code

A.
Forms

INV101 Ex1 Inventory Requisition INV102 Inventory Counts

Activities

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Forms

Inventory Types Preparation For Inventory Counting Period End Cut-Off Complete Physical Count - Cost (Or "Sku") Method Complete Physical Count - Retail Method Cycle Count

INV102 Ex1 Inventory Count Sheet INV102 Ex2 Inventory Tag INV103 Fixed Asset Control
Activities

1.0 2.0 3.0

Forms

Acquisitions Dispositions Asset Records

INV103 Ex1 Capital Asset Requisition INV103 Ex2 Asset Disposition Form INV103 Ex3 Bill Of Sale INV104 Customer Property
Activities

1.0 2.0 3.0 4.0

Receipt, Inspection And Stocking Unsuitable Or Missing Items Customer Supplied Tooling And Fixtures Intellectual Property

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Forms

INV104 Ex1 Material Return Notice INV105 Fixed Asset Capitalization & Depreciation
Activities

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Capitalization Depreciation

References A. IRS Publication 946 How To Depreciate Property Revenue ................................................................................................................ Section 7 REV101 Sales Order Entry
Activities

1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0

Forms

Sales Representatives Internet Orders Credit Department Sales Administration Manufacturing/Shipping Customer Service Accounting/Billing Changes To Orders Additional Information Resources

REV101 Ex1 Sales Order REV101 Ex2 Order Form REV102 Point-Of-Sale Orders
Activities

1.0 2.0 3.0

Point Of Sale Sales Orders And Invoices Sales Invoices And Accounts Receivable

REV103 Customer Credit Approval And Terms

Activities

1.0 2.0 3.0 4.0

Credit Application Credit Investigations Credit Approval/Rejection Additional Information Resources

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References

A. B. C. D. E. F.
Forms

Equal Credit Opportunity Act (ECOA) Truth In Lending Act (TILA) Fair Credit Billing Act (FCBA) Fair Credit Reporting Act (FCRA) FRB Reg B: Equal Credit Opportunity Act FRB Reg Z: Truth In Lending Act

REV103 Ex1 Credit Application REV103 Ex2 Request For Credit Approval REV103 Ex3 Credit Inquiry REV104 Sales Order Acceptance
Activities

1.0 2.0 3.0

Forms

Document Verification Telephone Confirmation Order Acceptance

REV104 Ex1 Phone Confirmation Checklist REV105 Shipment Of Goods

Activities

1.0 2.0 3.0 4.0 5.0

Forms

Shipping Inspection And Packaging Export Shipping Manifest Systems Shipment Pick-Up Additional Information Resources

REV105 Ex1 Shipping Log REV105 Ex2 Commercial Invoice REV106 Invoicing And Accounts Receivable
Activities

1.0 2.0 3.0 4.0

Forms

Sales Order Routing And Review Invoice Preparation And Posting Distribution Accounts Receivable

REV106 Ex1 Invoice

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REV106 Ex 2 Accounts Receivable Write-Off Authorization REV107 Sales Tax Collection

Activities

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Basis Of Tax Applicable Sales Tax Rates Nontaxable Sales Sales Outside Of Our Jurisdiction Sales Tax Billing

REV108 Progress Billing

Activities

1.0 2.0 3.0 4.0

Contract Types Breakdown Of Contract Amount Progress Claims Release Of Holdback

REV109 Account Collections

Activities

1.0 2.0 3.0 4.0

References

Collection Process Seriously Delinquent Or Unresponsive Accounts Working With Collection Agencies Writing Off Uncollected Debt Fair Debt Collection Practices Act (FDCP)

A.
Forms

REV109 Ex1 Account Collection Control Form REV110 Customer Returns

Activities

1.0 2.0 3.0

Forms

Origination Receiving Goods And Processing Returned Goods Disposition

REV110 Ex1 30-Day Satisfaction Guarantee REV110 Ex2 Returned Goods Authorization

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Purchasing ........................................................................................................... Section 8 PUR101 Vendor Selection

Activities

1.0 2.0 3.0

Forms

Vendor Selection Vendor Inspections Vendor Files

PUR101 Ex1 New Vendor Notification PUR101 Ex2 Vendor Survey Form PUR102 General Purchasing
Activities

1.0 2.0 3.0 4.0

Forms

Order Determination And Requisition Order Placement Recordkeeping And Matching Sundry Purchases

PUR102 Ex1 Purchase Requisition PUR102 Ex2 Purchase Order PUR102 Ex3 Purchase Order Log PUR102 Ex4 Purchase Order Follow-Up PUR102 Ex5 Daily Sundry Payable Log PUR103 Project Purchasing
Activities

1.0 2.0 3.0 4.0 5.0 6.0 7.0

Forms

Purchasing Overview Requisition For Material Order Orders And Arrivals Follow-Up Receiving Procedures Material Transfers Sundry Purchases

PUR103 Ex1 Order And Arrival Log PUR104 Receiving And Inspection
Activities

1.0

Receiving

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2.0 3.0 4.0 5.0

Forms

Inspection Rejection, Discrepancies And Disposition Stocking Product Returns

PUR104 Ex1 Receiving Log PUR104 Ex2 Receiving and Inspection Report PUR104 Ex3 Inventory Inspection Levels PUR105 Shipping And Freight Claims
Activities

1.0 2.0 3.0 4.0

References

Shipping Receiving Claims Procedures Additional Information Resources Interstate Commerce Act

A.

PUR106 Accounts Payable And Cash Disbursements

Activities

1.0 2.0 3.0 4.0 4.0

Documenting Accounts Payable Recording Merchandise Payables Recording Non-Merchandise Payables Payment Of Accounts Payable Manual Checks

Embezzlement Prevention ................................................................................. Section 9 Index .................................................................................................................. Section 10

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SOP # Revision: Effective Date: Title: REV109 ACCOUNT COLLECTIONS Policy:

Prepared by: Approved by:

All open accounts receivable with late or delinquent payment activity will be handled in a timely and effective manner to ensure maximum collections and an optimum accounts receivable turnover ratio. To provide the actions and methods for processing late or delinquent payments. This procedure applies to the Credit Department involved with collection of past due accounts receivable. The Sales and/or Shipping Departments may be involved in reference to shipping holds or special credit arrangements. The Credit Department reviews all records for a customer to determine a possible explanation for non-payment prior to commencing the collection process.

Purpose: Scope:

Responsibilities:

Definition:

Bad Debt consists of unpaid accounts receivable invoices that are considered to be uncollectible. Debt collector is any person who regularly collects debts owed to others. This includes attorneys who collect debts on a regular basis.

Procedure:

1.0
1.1

Collection Process
No matter how careful customers are screened prior to credit approval, slow pay or delinquent accounts will occur from time to time. Once an account becomes past due by even a few days, the collection process should commence immediately. Studies have shown that the sooner the collection process starts then the more likely that the debt will be collected. Prior to commencing the collection process, the following should be reviewed by the assigned Credit Department Representative: Verify that after the sale the Invoice was immediately sent out, along with a copy of the Purchase Order, to the correct billing address. Sometime Purchase Orders will be sent by one contact, for delivery to a second contact, with bills to be sent for payment to originate from a third contact. Therefore, make sure the billing contact noted on the Purchase Order correctly receives a copy of the invoice along with a copy of the Purchase Order. This is frequently the cause for the delay of payment for many Invoices. Make certain that the Company has not received the customer's payment or applied it to the wrong account. Verify that a Returned Goods Authorization

1.2

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has not been issued. These seem obvious, but it can avoid an uncomfortable situation in wrongly accusing the customer of delinquent payments. Verify with the Customer Service Department that the customer has received the product(s) and that they are satisfied.

Review the customer's past payment activity. Determine if they are chronically late and what their response has been to any other overdue notices to determine payment patterns or trends. 1.3 Upon review of the above, the Credit Department Representative should then proceed with the collection process by completing an REV109 Ex1 ACCOUNT COLLECTION CONTROL Form. This form will assist in planning and tracking the collection effort. Depending on the amount and the customer situation, the representative can choose to follow-up with collection letters, telephone calls or both. Record all actions taken (late payment notice, telephone call, etc.) with a date on an ACCOUNT COLLECTION CONTROL Form filed in the customer folder. All customer agreements and explanations should be noted. If payment has not reached the Company by the expected date, immediate follow-up action should be taken with another collection call or letter. The longer an overdue account is ignored, the longer the customer will ignore it, too. 1.4 Telephone communication will often speed up the collection process. Credit representatives, when speaking with a delinquent account, should observe a few tips or principles. Identify yourself and the Company and state the reason for calling. Be direct and use a controlled, confident voice. Concentrate on listening to the customer and don't rush through the call. Get the Facts - The most powerful tool is knowledge. During the phone conversation, try to gain as much insight into the situation as possible. Remember, the goals and objectives are to:

Collect the money! Identify reasons for non-payment Settle on an agreement for clearing the debt, including special payment plans and exact dates when a check will be sent.

Never argue, accuse or be condescending - Verbally fighting or talking down to the customer will only serve to produce negative feelings and may hamper the collection effort. The ultimate purpose is to secure payment, and this is best accomplished without becoming defensive or irritated. There are several common objections, complaints and excuses used to elude payment. Study the following examples to learn the most effective responses to the most frequently used ploys.

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"I didn't get the invoice." - Respond by verifying the debtor's name and address, and then review the account information with them. "The check is in the mail." - Extend your thanks, then ask for a check number, amount, date posted and address to which it was mailed. "Your payment is being processed." - Ask when the payment will be ready for the mail. Determine the process that the payment undergoes after it leaves your contact's desk. "I need proof of delivery." - Give the customer the name of the person who signed the delivery slip. "The computer is down." - When do you expect it to be up? Can we get a manual payment? "I'll pay you when we get paid." - Respond calmly, but make a direct request for payment, such as When can I expect payment?" "I have no money" - Create a payment plan. Be flexible and consider alternatives offered by the customer. Work toward making the plan acceptable to both of you. 1.5 Many people find it difficult to confront customers regarding delinquent payments. Just keep in mind that it is the customer, who should feel uncomfortable in this situation. If customers stop paying, their phone has been disconnected, and you cannot find them, consider using these resources to locate these debtors and their assets:

1.6

City directories Post office (for a forwarding address) A customers employer Department of motor vehicle license and registration records "In case of emergency" contact, references or closest relatives listed on a credit application Old files and correspondence The Internet (i.e. http://www.isleuth.com/peop.html) Skip-tracing services or private investigator Credit bureau reports Neighbors Directory assistance

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2.0
2.1

Seriously Delinquent or Unresponsive Accounts

When an account becomes more than 60 days past due, the immediate target of securing prompt payment should take on a greater sense of urgency. The Credit Manager should review the account with sales to determine if the customer's business is valued. If their business is valued, the following strategies may be used to collect payment: Restrict any further credit until the past due amount is paid in full. Withhold delivery of products or services already ordered. The harsh reality of having inventory/supplies curtailed often can spur a delinquent account into action. Invoke a "COD-plus" system. Deliver merchandise on a COD basis with an additional amount added to the cost of the order to cover past unpaid balances

2.2 2.3

If all other avenues for collection of the account have been exhausted, the Credit Manager should determine and authorize the use of an outside collection agency. All uncollectible accounts will be reviewed by the Credit Manager for disposition. Reference procedure REV106 INVOICING AND ACCOUNTS RECEIVABLE.

3.0
3.1

WORKING WITH COLLECTION AGENCIES

Collect all material records for the debt in question and send them to the collection agency. The agency will require a copy of the invoice, credit application (if available), proof of delivery, and/or any other correspondence that may help them collect the debt. Record the date the debt was sent to collections in the accounts receivable file. If payments are received after the debt has been sent to collections, then notify the collection agency immediately in order to stop any further collection efforts. The agency will take their fee for any debt that has been collected once it has been registered by the agency. If all other avenues for collection of the account have been exhausted, the owner and/or store manager should consider further legal action.

3.2 3.3

3.4

4.0
4.1 4.2 4.3

WRITING OFF UNCOLLECTED DEBT

Write-off any debts remaining uncollected or that are returned from the collection agency and record as a bad debt expense and deduct from accounts receivable. If any payments are received after being written-off from accounts receivable, then receive them in as income and recovery of bad debt. If bad debt is a recurring problem then consider setting up a reserve account or allowance for bad debt at the beginning of the year. Also, look into tightening up

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the credit process and restrict credit granted to customers as outlined in REV103 CUSTOMER CREDIT APPROVAL AND TERMS. References:

A.

Fair Debt Collection Practices Act (FDCP)

The FDCP requires that debt collectors treat consumers fairly and prohibits certain methods of debt collection. Personal, family, and household debts are covered under the Act. This includes money owed for the purchase of an automobile, for medical care, or for charge accounts. Business debt is not included. Debt collectors may not 1) harass, oppress, or abuse the debtor or any third parties they contact. 2) Use any false or misleading statements when collecting a debt. For example, debt collectors may not: Use threats of violence or harm; Publish a list of consumers who refuse to pay their debts (except to a credit bureau); Use obscene or profane language; or Repeatedly use the telephone to annoy someone. Falsely imply that they are attorneys or government representatives; Falsely imply that the debtor may have committed a crime; Falsely represent that they operate or work for a credit bureau; Misrepresent the amount of the debtors debt; Indicate that papers being sent to the debtor are legal forms when they are not Indicate that papers being sent to the debtor are not legal forms when they are. Give false credit information about the debtor to anyone, including a credit bureau; Send the debtor anything that looks like an official document from a court or government agency when it is not. Use a false name. Collect any amount greater than the debtors debt, unless the debtors state law permits such a charge; Deposit a post-dated check prematurely; Use deception to make the debtor accept collect calls or pay for telegrams; Take or threaten to take the debtors property unless this can be done legally. Contact the debtor by postcard. Say the debtor will be arrested if they do not pay the debt;

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Say they will seize, garnish, attach, or sell the debtors property or wages, unless the collection agency or creditor intends to do so, and it is legal to do so. Say they will take actions, such as a lawsuit against the debtor, when such action legally may not be taken, or when they do not intend to take such action.

Revision History: Revision 0 Date Description of changes Requested By

11/06/02 Initial Release

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REV109 Ex1 ACCOUNT COLLECTION CONTROL FORM

Account Name: Action Taken Address: Date Customer Reply or

Contact(s): Telephone #'s: Payment Terms: Comments:

Invoice

Date Due Amount

Date Paid

Running Total Due

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