The Accounts Receivable and Cost Recovery Division is responsible for the collection of a variety of City receivables including ambulance bills. The purpose of this article is to provide an overview regarding the accounting for and presentation of contract assets and contract liabilities.What is the accounts receivable process? Hire the best freelance Accounts Receivable Managers near Chicago, IL on Upworkâ„¢, the world's top freelancing website. While both can hand your business the kind of growth capital, scalability, and flexibility it needs, they are two very different financing options. An accounts receivable purchase agreement is a legally binding contract that governs the purchase of accounts receivable between parties in a specific location. You have been assigned to the first audit of the Chicago Company for the year ending March 31, 2019. Accounts receivable were confirmed on December 31,2018. Responsibilities: Contact clients regarding pastdue invoices. Research client billing questions.