Accounts Receivable
WHAT IT DOES FOR YOU
The Accounts Receivable component of the
AccuFund Accounting Suite provides a complete
receivable management system for an organization
dependent on billing other organizations, agencies or
individuals for all or part of its revenue.
The component may be configured for different types
of billing depending on the specific needs of
your organization. Entering an Inventory item
automatically tracks inventory counts and the
cost of goods sold through Accounts
Receivable. Non-Stock items, services and
other items can also be entered into an
invoice. When configured to do client billing
a client can be attached any line item so that
the responsible party can review each
individual's services for proper payment.
Accounts Receivable includes a suite of
standard report formats to give managers
ready access to the status of expected revenue. The
reports include user definable AR Invoice forms so
that the specifically required information may be
included.
HOW IT WORKS
Invoices are created though invoice entry. Each
invoice may have unlimited items. Each item can be
for items in inventory or a free-form description can
be entered. If using inventory items, the sale price and
accounting distribution may be defaulted from Inventory. The account distribution may also be
manually entered. Each item may have multiple
account distributions. Once an invoice is
completed it may be printed directly from the
entry screen or all unprinted invoices may be
printed as a group. Cash receipts are applied to
individual invoices on a FIFO basis, or the
application of cash may be manually distributed.
The standard aging report gives you a view of
customer payment status along with days
delinquent and telephone number for collection
calls.
OTHER FEATURES
Other features of the Accounts Receivable
component include:
• Client billing - track services provided to individual
clients for which the billing is to a third party agency or
individual.
• Sales tax calculation - automatically calculate up to
four different taxes or fees to add to an invoice.
• Besides the sales price of inventory items, the
module will also calculate and automatically post Cost
of Goods Sold to the General Ledger.
• Repeating Invoices - if you send out the same
invoices repeatedly, they may be stored, modified as
necessary and coded for multiple billing cycles as
required.
• Invoice import - some organizations have other
systems that generate billing information. The detail
transactions may then be imported into the Accounts
Receivable component for billing.
• Credit memos - Credit memos can be created in the
billing system and offset against invoices through the
cash receipt/cash application process.
COMPONENT INTEGRATION
• General Ledger - all transactions are immediately
posted to the General Ledger for reporting purposes and
all account entry is verified against the General Ledger for
consistency of data.
• Cash Receipts - All AR cash receipt entry is done
through the Cash Receipts component. Prepayment
receipts are entered here and stored as payment credits until
applied to an invoice.
• Inventory - The Inventory component stores
inventory items for sale as well as non-stock and services
items that store revenue codes and sale prices. The
inventory can calculate volume prices, rate-based prices
and prices based on customer specific
demographics (requires the professional or
stand-alone versions for this feature).
• Report and Forms Designer - All
Accounts Receivable reports and forms are
created through the Designer, giving users
control over layout as well as easily adding
additional fields and text specific to their
organizations requirements.
COMPONENT AVAILABILITY
The AccuFund Accounts Receivablecomponent is available integrated with the
AccuFund Accounting Suite or it may be
used as a stand-alone module with a
transaction export to be integrated with other
accounting systems.
STANDARD TEMPLATES PROVIDED
AccuFund provides a set of default reports with the
Accounts Receivable component. These reports and forms
may be modified or added to through the Reports/Forms
Designer. The default reports include:
• A/R Status
• A/R Aging
• Standard Invoice
• Statement Invoice
• Client Detail Invoice
• Revenue Distribution
• Customer Summary
