Week 3 of 12 · Build
Accounts payable / receivable
Milestone: AP/AR workflow exercise. Format: Workflow mapping + practice set.
Persona side project — your client list
Log five professional conversations (coffee, call, message that earned a reply). Update the roster after each one. Persona practice this week is AP/AR language: you can explain an invoice and a due date in plain English to a real person.
Learning objectives
- Map the life of an invoice from engagement to cash in the bank.
- Map the life of a bill from receipt to payment.
- Apply a simple collections sequence that is firm and respectful.
- Age receivables and payables and explain what the aging means.
Core instruction
Accounts receivable (you billed someone)
- Confirm scope in writing before you invoice.
- Issue a numbered invoice with due date, payment methods, and late-policy language approved by the instructor.
- Record the invoice; track undeposited funds vs. bank when payment arrives.
- Follow up: polite reminder, then a scheduled second contact, then a documented next step.
Accounts payable (you owe someone)
- Match bill to work received. Flag duplicates.
- Code the expense to the right account.
- Schedule payment so cash is managed, not panicked.
- File the paid bill with the payment reference.
Vendor and client hygiene
One record per person or company. Correct legal name, email, and terms. Never mix personal shopping with firm payables in training files.
This week’s work
- Complete the AP/AR workflow exercise: three invoices, three bills, one partial payment, one disputed line.
- Produce an AR aging and an AP aging as of a stated date.
- Write a 6–8 sentence collections email that is professional, not aggressive.
How we know you are ready
Workflow is sequential and complete. Aging totals tie to the ledger. The collections note protects the relationship and the cash.
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