Accounts Receivable

 Keep track of the whole receivable process.

 Do you have a computerized receivable system, if yes, then, does it give you everything you require? Are you well organized in your collection efforts? Do you stay on top of your customers or do you wait until a real collection problem develops? Can you say who your defaulter customers are? Can you knock them early to remind about their dues?

 Your receivables are a valuable asset. If managed right, it encourages higher sales with trifling cost. Managed wrong, it can knock you out of the business. Also following up on past due customers is not one of the most pleasant business tasks, but it is a very crucial one. There are a few customers who tend to procrastinate on sending a check until having a polite but firm reminder. A great way to manage all these tasks right is our Accounts Receivable.

 Accounts Receivable is a delicate system for promoting and tracking sales, payments, and other activity with your customer. It comes along with A/R Collection tracking, although many application software treat both of them as different modules with one is add-on option of other’s. You will get effective record keeping, accurate records, and the tools to help you get paid right on time. You will also have instant answers to the queries of your clients ask about their accounts.

 With Account Receivable, you will be able to:

§          Enter data in both batch mode and on-line mode (with immediate update to customer ledgers).

§          Amend and print transactions before posting to customer ledgers.

§          Allow partial and on account payment by customers.

§          Allocate payments by individual invoices, range of accounts and by exception.

§          Post multiple General Ledger control accounts for debtors, cash receipts and debtors/receivables.

§          Make both prior and future period postings for invoices, credit notes, debit notes and customer payments.

§          Know which customers owe you money and it is due.

§          Know who need a collection reminder.

§          Follow up with every customer who needs attention, of course in an organized way.

§          Be always ready to handle questions about a customer’s current or past activity.

§          Know the aging status of each receivable type, customer, and invoice.

§          Evaluate efficiently each customer’s payment performance.

Reports & Inquiries you will have:

§          Customers master information by customer code or customer name.

§          Transaction Listing for a given transaction types.

§          Customer account balance with aging analysis based on user defined aging buckets.

§          Aged debt analysis.

§          Details including period-to-date sales, period-to-date payments, credit terms, outstanding balances, aged debt in user-defined buckets or standard buckets.

§          Details debtors’ report.

§          Statement of accounts.

Integration with other Modules:

§          Links to General Ledger.

§          Links to Order Processing and invoicing.

§          Links to Project Accounting.

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LAST UPDATED: Tuesday, August 12, 2008