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Accounts Receivable interfaces directly with Invoicing and Point of Sale for automatic posting of invoices. Balanced entries to General Ledger are also created for cash applications, adjustments and finance charges -- To aid in balancing, transaction listings can be printed by deposit date or for the entire month.
Ageing, Statements and Finance Charges
Finance charges are calculated based on a user-defined grace period and service charge rate. Customers can be coded as non-finance-chargeable, which can be beneficial to customer relations over long jobs, or for goodwill customer relations for churches and other not-for-profit organizations. A 'Simulated Finance Charge' run will show exactly who will be receiving finance charges and how much, allowing you to make adjustments if necessary before applying the final finance charges.
Statements can be printed for all customers with activity in the current month or individual customers can be selected. The Ageing report is printed by salesman or by company. The AR Summary lists all accounts currently in receivables and can just show the final total on-screen for easy checking to the AR account in General Ledger.
Applying Payments, Making Adjustments
Cash application/adjustment screen shows all open invoices for each customer. Cash is applied by invoice selection; cash discounts taken can be entered on each invoice or automatically distributed between several invoices. Adjustments to a customer account can be made by entering the amount and the GL account number.
Last payments made by that customer can be viewed on-screen while applying payments. If the Ticket History module is purchased, you can pull up detail of the original invoice, seeing all line items.