Accounts Receivable Module Overview

Print Friendly, PDF & Email

Accounts Receivable Module Overview

 

The following is an overview of each function in the StockTrac® Enterprise Account Receivable module.

 

File Menu

 

Set Security

This function is used to set which level of security has access to which A/R functions. Level 1 is the highest level of security, and level 5 is the lowest. A person with level 1 security has access to all functions that levels 2 through 5 have.

 

Customers Menu

 

Edit/View (same as Edit Customer button)

Add new customers and change customer information here. You can also view current A/R activity (via the A/R Status button and paid A/R history (via the Paid A/R button).  When going into this program, it you will see only A/R (charge) customers. You can uncheck the “A/R Only” box to see all customers.

Note that customers can also be added/changed in the Customers module and the Point-of-Sale module.

 

Credit Hold List

A customer can be put on credit hold in Customers, Edit by clicking the Credit Hold button.

This application will show the customers on credit hold. They can be taken off credit hold, their A/R activity can be viewed, the customer notes can be viewed and edited, a list of credit hold customers can be printed, and a group of customers can be put on credit hold. For example, all customers that have a past due amount of $50 or more for 90 or more days can be placed on hold.

 

Database Changes

This application allows changes to all A/R customers. The following functions can be performed:

  • Terms for all customers can be changed to various options
  • Statement printing can be set to “no changes”, “set all to print” or “set all to don’t print”
  • Finance charges can be set to “no changes”, “set all to allow” or “set all to don’t allow”

 

Transactions Menu

 

New Entries (same as the New Transaction button)

This function allows four types of transactions to be entered.

  • Debit Memo – which increase the customer’s balance
  • Credit Memo – decreases the customer’s balance
  • Payment – decreases the customer’s balance
  • Discount – decreases the customer’s balance

The transactions can be added, changed and deleted. A group of transactions can be saved as a batch. The entries can also be printed and posted.

 

Batch Files (same as the Batch Files button)

As discussed previously, transactions can be saved as batches. This program is used to access the saved batches. They can then be edited, added to, printed and posted.

 

Apply Open Credits (same as the Apply Open button)

When a credit memo, payment or discount is entered in A/R, there is the option of applying it at that time to a specific transaction. It can also be left “unapplied”. This function will allow you to apply those open credits to specific invoices or debit memos. Unapplied payments that were entered in the Point-of-Sale module will also show, and they can also be applied.

 

Clear Paid, All Customers (same as Clear Paid button) and Transactions, Clear Paid, One Customer

Use this function to move paid transactions to history for all customers or one customer. Be certain you want to do this, as when the program is launched it executes immediately without warning. Once moved to history, the transactions will no longer appear on statements and on the aging report. Also, instead of being located under the A/R Status button in the Edit Customer application, they will appear under the Paid A/R button.

 

Unapply

This program will allow previously applied transactions (credits, payments and discounts) to be unapplied. This is useful if a transaction was applied to the wrong invoice. In this scenario, the transaction could be unapplied and then reapplied via Apply Open to the correct transaction. Note that only transactions that have NOT been moved to history can be unapplied.

 

 

Service Charges Menu

 

Create & Post (same as Service Charges button)

For customers with an outstanding balance, service charges can be generated. This function allows charges to be calculated, all unposted charges to be cleared, specific charges to be removed, a list of service charges to be printed, and the service charges to be posted.

In order for a customer to have service charges generated, they must be set up as an A/R (charge customer) and they must have the “Finance Charges” flag checked in their customer record. The also program use several values that are entered in the Setup, Terms, Charges & Statements function.  Please refer to the summary below for more information.

 

Waive Charges

This program will list all unpaid service charges and provides the option to waive them. When a service charge is waived, the program basically deletes the previously posted charge. No record of the service charge or the waiving of the charge appears in the customer’s account.

 

 

Reports Menu

 

Print All Statements (same as the All Statements button)

Use this function to generate statements for all A/R (charge) customers. A customer is an A/R customer if they have a value entered in the Account # field in their customer record.

Statements will not be generated if the customer has No Statement checked in their customer record. In addition, a couple of other options are available.

Options include selecting a statement form, entering up to 2 lines of custom messages if desired, select whether or not to include zero or negative balances, and whether or not to print e-mail customers.

Once the statements print, the program will ask, “Clear Paid Transactions Now”. If you answer Yes to this, any paid transactions will be moved to history and will no longer appear on statements and on the A/R aging reports.

 

Print Single Statement (same as the One Statement button)

This is the same process as above, but it is for one customer only.

 

Email All Statements

Run this application to email statements to all A/R (charge) customers that have the E-Mail Statements flag checked in their customer record.

Options include selecting a statement form, entering up to 2 lines of custom messages if desired, and selecting whether or not to include zero or negative balances. The statement will be emailed to the main email in the customer record, unless an alternate email is specified in the customer record under Use Customer E-Mail/Alternate.

 

Email Single Statement

This is the same process as above, but it is for one customer only.

 

Aged Receivables Detail (or Aged Detail button)

This report shows the detail of all open invoices and other transactions that have not yet been moved to history. It is very important that this report is run at the end of your month and year, as once the period passes, you cannot recreate this report. You have the ability to specify whether or not to include zero balance customers. The report can be previewed or printed.

 

Aged Receivables Summary (or Aged Summary button)

This summary report prints one line per customer, and it includes the total the customer owes and ages the amounts out between four (4) aging buckets (1-30, 31-60, 61-90 and Over 90). You have the ability to specify whether or not to include zero balance customers. The report can be previewed or printed. It is very important that this report is run at the end of your month and year, as once the period passes, you cannot recreate this report.

 

A/R Transaction Report

This new report allows you to print out a list of all Debit Memos, Service Charges, Receipts, Credit Memos and Discounts that were entered in Accounts Receivable for a specific date range. It is helpful when interfacing with QuickBooks, as these transaction are not exported to QuickBooks. Print this list to know which manual entries need to be made.

 

Unapplied Credits

This reports lists all payments from Point-of-Sale and all Credits from A/R that have not yet been applied to specific invoices. The report can be printed and used when executing the Apply Open function.

 

A/R Customer Listing

This report shows some information about each A/R customer, including their address, phone numbers and account ID.

 

Credit Hold Listing

Provides a list of all A/R customers on credit hold. The report can be printed and then used in conjunction with the Customers, Credit Hold List application to remove customers that no longer need to have this status.

 

A/R Customer Labels

Using this function you can print labels for your customers. You can select from various Avery Labels, and indicate whether or not to include zero balance customers.

 

Manual Labels

This application is used to enter a manual label. The type of Avery label is selected, and then the name and address can be typed in. A customer can also be selected from the customer file.

 

Form Letters

Use this function to send Collection Letters to A/R customers with unpaid balances.

A different letter can be created for customers 30, 60 and 90 days overdue. A logo can be included on the letter, and data fields can be selected and fonts can be changed. Once ready to send a letter, the program will allow it to be sent to all overdue customers, customers 60 days or more overdue, customers 90 or more days overdue, or just send a form letter to all A/R customers.

 

 

Setup Menu

 

Terms, Charges & Statements

This function allows you to specify values that will be used in other A/R programs.

  • Default Terms – Net 30, Due 10th of Month, etc.
  • Next A/R Transaction Serial No. – this is the next number to be used for an A/R transaction. It cannot be changed by the user.
  • Monthly Service Charge Rate – the percent to charge as a service charge
  • Min. Balance for Service Charge – the minimum balance the customer must have to be charged a service charge
  • Service Charges After Days Past Due – to have service charges only generated when a customer is 30 days past due, enter 30 here
  • Minimum Service Charge Amount – the minimum service charge that will be assessed
  • Service Charge Reminder for Statements – this field is no longer used, and it will be removed from the screen in future versions
  • Statements – select the form type, add messages to the statement, define your logo, and set other options

 

 

Your email address will not be published. Required fields are marked *