Accounts Receivable programs and reports are available via the Accounts Receivable Menu.
Customers can be designated as Import, Ocean Export and/or Air Export. Special profile data is stored for Import and Ocean Export customers.
The history of a customer's transactions can be displayed. Complete detail is shown including Invoice number, date and amount, together with payment date, check number and balance due. A unique inquiry shows both receivables and payables for a specified file. This permits a complete analysis of the file and assists management in deciding whether to pay a given invoice.
Specified management personnel can designate a given customer as unusable for new business. The user will be told who to contact.
A Statement printing program is included. The user can designate the minimum age of invoices to include. This program uses BMS's Formgen features. It can print statements either on pre-printed forms or in letter format.
The Cash Receipts sub-system provides great flexibility in accounting for application of cash receipts. Receipts can be recorded either against Accounts Receivable or as Miscellaneous Receipts. Accounts Receivable Cash Receipts include the ability to do write-offs against up to two General Ledger accounts.
The Cash Receipts Journal shows the application of cash and the batch total received by bank.
The Field labeled "BANK" is the account to which the cash is deposited. The accounts receivable account is in the System file. The net of "BANK" plus discount amounts is credited to the accounts receivable account.
To edit a previously entered cash receipt leave the "CUST#" field blank and enter the cash receipt number in the "C/R#" field. The year and leading zeros will be generated automatically, thus you can simply enter 123 to retrieve cash receipt 99000123.
A cash receipt can be edited unless:
In all cases, the cash is recorded using the Cash Receipts program. (AR Menu option 1). No discount account data is entered.
The aged A/R report gives a summary of true receivables and prepayments. A report option is available to report only prepayments.
Discount amounts are posted as debits.
An advance payment that is not to show as unallocated cash which would reduce A/R can be entered as a negative discount using a liability account as the "DISC ACCT".
To use an advance payment to pay a later invoice, Enter the bank acct number but no "AMT". Enter the advance account number in the "DISC ACCT" field and the amount of the advance to be applied in the "DISCOUNT" field.
The best way to get handle "no value" adjustments on receivables is to use the discount field of the cash receipts to write the amounts off to some revenue account, such as Misc Revenue.
Aging can be printed in detail or summary as of any specified date. The system can reconstruct aging for any past day. This simplifies reconciliation of the ledger and sub-ledger totals.
If the Aged A/R report does not agree with the balance in the G/L Accounts Receivable account: