The Role of Internal Control in Managing Accounts Receivable Effectively in PT. Serumpun Indah Lestari
Keywords:
Internal Control, Accounts Receivable, Financial Reporting, Fraud Prevention, Operational EfficiencyAbstract
Accounts receivable (AR) represents a significant asset for many organizations. Proper management and control of receivables are essential to ensure liquidity, profitability, and accurate financial reporting. An effective internal control system (ICS) for accounts receivable is crucial to mitigate the risks of fraud, errors, and uncollectible debts. This analysis explores the key elements, risks, and effectiveness of internal controls related to AR. The purpose of this study is to determine whether the internal control system for receivables implemented by PT. Serumpun Indah Lestari is adequate. This study uses a descriptive research approach, namely a study to compile, classify, interpret and interpret data so as to provide an overview of the problems of the internal control system for receivables. The data analysis technique uses a descriptive accounting approach method, which is a method used by formulating attention to solving the problems faced, where the data is collected, compiled and interpreted so as to provide information about the recording, acquisition and classification of problems that exist in the company. Based on the data analysis and discussion, it can be seen that the internal control system for receivables implemented at PT. Serumpun Indah Lestari Medan is quite good and adequate. However, several elements still need to be improved, such as risk assessment and information, to ensure that credit distribution is targeted and profitable for the bank.
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