ERP Receivables Overview

Through ERP Receivables, you can create all the necessary transactions to correctly bill customers, record payments, and perform adjustments to customers accounts. These transactions include invoices, credit memos, debit memos, guarantees, deposits, bills receivable, adjustments, and chargebacks.

ERP Receivables process consist of several major steps. The Create Invoices and Print Invoices steps will be discussed in this topic.
• Create Profile Classes: Defines several default values for customers with similar credit terms and invoicing requirements.
• Enter Customers: Creates information for the customer, defines the addresses for the customer, and the business purpose(s) at each address.
• Create Invoices: Uses AutoInvoice or manually created invoices to bill customers for goods and services.
• Print Invoices: Produces invoices to mail to customers.
• Use New Receivables: Helps customers and employees to access customer accounts online to see the status of invoices and receipts and to request credits on line.
The Accounts Receivable module is a flexible, open item system. It is used to record sales and monitor customer payments and includes a customer master file.

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Sales Transactions: Accounts Receivable allows interactive entry, editing and posting of sales and credit memos. Sales are recorded by entering an invoice. Each invoice is given a number and tied to a customer. The due dates for the charges and prompt payment discounts appear on the printed customer invoice. Item codes are entered with the quantity sold. The description and unit price appear as entered into the data file. Both of these can be overridden when necessary. There is no limit to the number of items that can be included in a single invoice. When Order Entry is used for invoicing, there is no need to re-enter invoices in Accounts Receivable. Invoices are automatically recorded from the Order Entry module.

Invoices: Accounts Receivable prints invoices and customer statements.

Payments: An invoice is held open until the payment is applied against it. In this way it is easy to track payment history and keep any disputed charges visible. When recording customer payments, all of the outstanding invoices are displayed. The amounts received are then applied to the appropriate invoices. Accounts Receivable also can code miscellaneous checks or cash directly to the appropriate General Ledger account.

Bank Deposits: All cash transactions entered individually can be grouped to match deposits made to the bank. The bank deposit entries are used in preparing the bank reconciliation report in the Accounts Payable modules.

Reports: The Accounts Receivable aging report may be printed on request for all or selected customers. Other reports are available which list both invoice amounts and payments, inventory items, fee schedules being used, and selected cash receipts by customer.