Processing Requirements Features and Functions
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- Allow either open item or balance forward processing of receivables
- Compute late charges for customers not paying within a defined time period
- Provide a purge process that moves accounts receivable master file records to a history file
- Consolidate multiple-location customer billings into a single open item, due from one paying location
- Inter-company receivables are processed and accounted for
- For reporting purposes accept cash sales as a specially coded receivable and cash receipt
- Automatically balances the A/R master file and checks the total file balance against the accounts in the G/L master file
- The A/R master file internally balances individual open item A/R records against corresponding account balances in the customer master file, automatically, and reports exceptions
- Issuing invoices for percent complete
- Allows for backorders and changes
- Manages foreign trade zones
- Consignment invoicing and tracking
- Receivables can be sold to a third party and can be identified as non-qualified in user-defined fields
- Tracks advance payments and down payments, and posts them to A/R when the sale is taken
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Accounts Receivable Features and Functions
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