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Accounts Receivable
INFIMACS II Accounts Receivable is designed to assist you in minimizing your company’s investment in receivables through enhanced control of the credit and collection activity. This module maintains customer accounts and processes invoices, statements, and cash receipts. INFIMACS II Accounts Receivable shares customer information with Sales Order Management and accepts invoices from that module, thereby eliminating duplicate data entry. Customer account management is augmented by on-line summaries and detailed reporting of both present and past activity. Fast and simple input of invoices and cash receipts makes departmental training easy. Standard features, such as batch totals and lists, provide departmental control over data accuracy.
Customers are defined on-line by customer site, along with related invoicing and credit limit information. Accounts may then be accessed using a complete or partial customer name or customer number. Customer account status may be reviewed at any time for current balance, invoice and payment totals, last payment date, and account aging figures. Furthermore, each customer account may have unique terms (e.g. prompt payment discount calculated by the system), credit limit, and statement message. Customers can be grouped by customer class (e.g. wholesale, high volume) for global establishment of Accounts Receivable policies. A Master/Sub Customer table can be used for customers using a centralized bill-paying account.
INFIMACS II Accounts Receivable can accommodate invoices that are automatically created by the Sales Order Management module when the product is shipped, as well as those that are manually posted to customer accounts. The system can perform all standard accounts receivable functions, including credit and debit memos, adjustments, and account distributions. As invoices are processed, related sales orders and payment terms can be reviewed on-line, thereby providing all information required to complete the invoicing cycle.
Cash receipts can be wholly or partially applied, finance charges automatically calculated, and statements printed. During the receivables cycle, hash totals, transaction counts, and edit lists help to proof batches and identify discrepancies. Accurate statements to all customers mean improved relationships.
INFIMACS II Accounts Receivable maintains historical transaction and account data to facilitate customer analysis, sales and commission reporting, and improved collection control. Sales history, credit history, and customer analysis reports are provided to illustrate the payment record of your customers and support action required to improve your company’s cash flow. On-line aged receivables and collection information can be accessed from the Sales Order Management module prior to sales and/or shipments, thereby minimizing your investment in receivables.
Functions
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- Billing/Invoicing
- Cash Application
- Agings
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