Accounts receivable procedures are the rules and regulations that govern how businesses track and collect payments that have been made to them. It is important for companies to have clearly-defined accounts receivable procedures in order to ensure that payments are received in a timely manner, and that any potential problems are caught and resolved quickly. These procedures typically involve tracking customer invoices, processing payments and issuing reminders or other forms of notification when payment has not been received. Additionally, proper accounts receivable management requires having strong internal policies in place to prevent fraud and financial mismanagement. By taking the time to establish and follow these procedures, businesses can maintain proper control over their finances and maximize their overall profitability.