Processing Requirements Features and Functions

• Allow either open item or balance forward processing of receivables


• Option to generate one invoice or multiple invoices for customers who owe money to more than one department /school


• Inter-company receivables are processed and accounted for


• 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


• Prints duplicate invoices or statements on request


• Tracks advance payments and down payments, and posts them to A/R when the sale is taken


• Generates an account receivables transaction for student tuition, student ID fees and submits an invoice or provides the information via a web site login to parents, students, or district employees


• Generate an accounts receivable transaction for student "holds" and allows user to specify disicplinary action


• Compute late charges for customers not paying within a defined time period


• Generates customer account statements based on user-defined criteria


• Processes online cancellations and one-step reversals of invoice entries


• Calculates discounts based on user-defined criteria


• Calculates and applies interest on overdue balances


• Generates, prints, and electronically transmit invoices, cash receipts, and statements


• Provides the option of printing a receipt for "at the counter" payments or updating the records without a receipt in the case of a mail payment


• Matches receipt to invoice based on payee name, invoice number, or other user-defined criteria


• Users with appropriate security and authority, can enter, edit, and print receipts,


• Enters cash receipts transactions on decentralized or centralized basis


• Distributes cash receipt deposits process to the department or school levels and makes the information accessible on a real-time basis


• Process partial payments per line item on an invoice


• Processes overpayments per line item on an invoice


• Applies receipts to multiple revenue funds or accounts


• Accepts automated clearing house transactions (EFT) from the invoicing system sent to specific customers in lieu of invoices


• Interfaces with credit card processors to receive payment information online


• Allocates a payment to multiple account numbers


• Accepts partial payments from customers


• Handles under or overpayments


• Gives users the option to select credit balance or generate refund for customer overpayments


• Automatically calculates and applies sales tax to applicable transactions, and separately codes sales tax amounts to separate cash and revenue accounts


• Handles multiple sales, use and excise tax jurisdictions


• Generates a log of all receipts with control totals


• Permits edits or reversals of a cash receipt and automatically generates the related accounting entries


• Useres can waive calculated interest or late charges with appropriate security and authority