The Accounts Receivable functionality uses billing parameters defined on customer records, the pricing system, and invoice records to calculate how much your company charges customers. The Accounts Receivable module is also used to receive customer payments, track sales information both internal (work force commissions and sales) and external (customer sales trends), provide credit hold functionality against the customer base, and track current outstanding debts owed to your company.

You set up billing information through two maintenance programs – Payment Terms Maintenance and Customer Maintenance. Use Payment Terms Maintenance to define the various pay agreements you have with your customers. Customer Maintenance defines the billing parameters specific to each customer, like billing address, discount percentages, salespeople and other details.

AR Invoice Entry is the tool where this billing and pricing information comes together. Use this program to calculate how much you charge customers for the part quantities sold to them. When you receive payment from your customer, you then use Cash Receipts Entry to process the amounts placed against these open invoices.

Two key reports are available to help you assess your company’s incoming amounts. The AR Aged Receivables Report displays each customer’s open invoices by sorting them into aging columns. The Sales Gross Margin Report prints information on invoices created during a selected date range.

When you leverage this set of financial tools, you accurately calculate the income coming into your company.