FinancialSyspro

Accounts Receivable

What Is It?

Most companies are in business to sell goods and/or services in order to make a profit. To achieve this, organizations need to have customers. To facilitate the management of customers, records must be kept of what is purchased, what is the value of outstanding invoices and the age of these invoices. Executives need to see what money is owing to the organization and when this money is due. Payments received from customers must be matched to the invoices in order to keep track of unpaid invoices.

​​As customers are at the heart of the business, it is important to keep track of the prices offered to customers for goods and services. The discount/price matrix is maintained at customer level and this provides organizations with the required flexibility when managing prices with customers. The matrix is used to automatically select the correct price at time of invoicing.

​​In some instances, customers have branches all over the country. Their requirement is to have goods delivered directly to their branches and invoices must be generated per branch. Payments are made centrally (i.e. the statement must go to head office, reflecting the purchases from each branch).

​​The Accounts Receivable system provides an efficient method for recording sales and customer payments. Integration to the General Ledger is flexible and the level of integration depends on the business requirements. Included are facilities for maintaining, verifying and reporting customer account information.

​Audit trails and journals are extensive and form an integral part of the module.

​​For each customer, both invoice and transaction details are retained from which cash forecasting and sales analysis can be obtained. Customers can be held in local or foreign currency and multi-branch accounting is available. Additionally, free-format statements can be designed.

​​In summary a business needs a means to record all sales and payments received from its customers. In order to identify future sales opportunities, a record must be kept of what customers are purchasing and when.

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SYSPRO Solution

The Accounts Receivable system provides users with extensive control of customer information. Analysis and reporting can be performed on an open-item or balance-forward basis using various ageing options. Information for a defined series of related customers may be accumulated into a single master account for consolidated statement printing. In addition, free-format statements and recurring invoices can be designed.

​​Receivables can be held in a local or foreign currency and the system complies with European Monetary Union (EMU) requirements. Extensive cash posting facilities exist, which include post dated check entry and posting, miscellaneous unassigned cash receipts and the facility to post cash received to invoices manually or automatically by invoice or aged date.

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Process Flow

Customers request a quote for goods and/or services. A quote is prepared and sent to the customer. On acceptance of the quote, an order is generated. A picking slip is printed and the goods are picked. The order is then dispatched to the customer. On receipt of the goods, the customer signs a Proof of Deliver​y (POD). The Proof of Delivery (POD) is given to the Invoicing Clerk, who then invoices the customer based on the Proof of Delivery (POD). At the end of the month, statements are sent to the customer. On receipt of payment, the customers account is updated.​

 

Process Flow for Accounts Receivable

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Syspro. Syspro Indonesia. Syspro Implementor. ERP Indonesia. ERP Small Medium. ERP Implementor. Small Medium ERP. Small Medium ERP Software. Small Medium ERP Implementor. ERP Implementer. ERP Implementation. Syspro Implementer. Syspro Implementation. Small Medium ERP Implementer. Small Medium ERP Implementation. ERP Manufacturing Software. ERP Manufacturing Systems. ERP for Manufacturing. ERP for Manufacturing Industry. ERP Distribution Software. ERP Distribution Systems. ERP for Distribution. ERP in Distributon. ERP for Distribution Industry. ERP Financial Software. ERP Financial Systems. ERP for Financial. ERP in Financial. ERP for Financial Industry. ERP EPC Software. ERP EPC Systems. ERP for EPC Companies. ERP for EPC Industry. ERP Solution for EPC Companies. Budget Planning. E-Budgeting. Financial Consolidation Software. SAP Indonesia. SAP Implementor. SAP Implementer. SAP Implementation. SAP ERP.

Integration

The Accounts Receivable solution can be run standalone or it can be integrated to other solutions. These solutions include:

Accounts Payable

  • Linking of customers to suppliers.

Cash Book

  • Integration of invoice payment receipts and miscellaneous cash receipts.

Contact Management

  • Customer details are shown and can be edited in Contact Management and CMS Accounts can be converted into customers.

General Ledger

  • Integration of sales and cost of sales information.
  • Integration of cash receipts (payments).

Sales Analysis

Accounts Receivable information is available on the following Sales Analysis reports:

  • Sales by salesperson, product class, and customer
  • Sales commissions
  • Sales tax schedules
  • Turnover reports

Sales Orders

The following Sales Order information is transferred to Accounts Receivable:

  • Sales and cost-of-sales-related distributions
  • Sales Order processes that update stock quantities:
    • Order Entry (allocations)
    • Invoice printing
    • Credit invoice printing (returns to inventory)
    • Debit invoice printing (issues)
  • Document print capability:
    • Invoices/debit notes/credit notes
    • Delivery notes and order acknowledgments

Customer information, if required, can be passed to the following modules:

  • Purchase Orders
  • Blanket Sales Orders
  • Counter Sales
  • Return Merchandise
  • Quotations
  • Work in Progress

Accounts Payable

The Customer Contra – Supplier  program enables you to offset the amount you owe to a supplier who is also your customer, with the amount that they owe you.

Cash Book

You can configure Accounts Receivable to automatically post customer and sundry payments to the designated Cash Book as un-reconciled deposits. This facility saves double posting i.e. you having to manually post the transactions to the Cash Book as well as to Accounts Receivable.

You define Accounts Receivable integration to Cash Book on the Integration tab of the Accounts Receivable Setup program SYSPRO ribbon bar Setup Financial Accounts Receivable.

General Ledger

SYSPRO enables you to determine whether you want Accounts Receivable to be integrated to the General Ledger and if so, whether the integration is to be in real-time or in batch mode, and whether the transactions are to be posted in detail or in summary (see General Ledger Integration in this document).

You use the Receivables tab of the General Ledger Integration program SYSPRO Ribbon bar  > Setup > General Setup  > GL Integration to define the general ledger accounts to be used when processing Accounts Receivable transactions.

Branches

For each Accounts Receivable branch, use the AR Branch Maintenance program to define the AR Control account, as well as interface ledger accounts for non-stocked sales and cost of sales.

Sales interfaces

Use the AR Sales Ledger Interface program to define the interface ledger accounts for sales and costs of sales entries.

These determine the ledger accounts that are credited when you sell an item from a specific branch, product class and warehouse combination.

Payments interfaces

Use the AR Payment Interface program to define the interface ledger accounts required for payments, adjustments, discount and deposit entries.

These determine the ledger accounts that are debited when you process entries for a specific branch using the AR Payments and Adjustments program.

Tax codes

Use the Tax Codes Maintenance program to indicate the Sales Tax Ledger Code. 

If you are using the USA tax system, then you use the Extended Tax Codes program to indicate the Sales Tax Ledger Code.

Variance interfaces

Use the AR Currency Variance G/L Interface  program to indicate the Currency Variance account to use for your Accounts Receivable Branches and Currencies.

Sales Analysis

Accounts Receivable information is available on the following Sales Analysis reports:

  • Sales by salesperson, product class, and customer
  • Sales commissions
  • Sales tax schedules
  • Turnover reports

When you run the Accounts Receivable Month end or Year end function in the AR Period End program, a Month end/Year end is also performed in the Sales Analysis module, thus ensuring that the two modules are always in the same period.

Sales Orders

Accounts Receivable integrates with the Sales Orders module when you invoice customers using the Sales Order Entry program.

Although Accounts Receivable does not integrate directly to Inventory, if you are using Sales Orders to invoice/credit stocked items, and the Inventory module is in a later financial period than the Accounts Receivable module, then the Inventory transaction is always posted in the selected Accounts Receivable financial period.

In addition, no invoicing can take place in the Sales Orders module if the current Inventory period is more than one month ahead of the Accounts Receivable period.

Accounts Receivable Integration to other SYSPRO solutions

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Syspro. Syspro Indonesia. Syspro Implementor. ERP Indonesia. ERP Small Medium. ERP Implementor. Small Medium ERP. Small Medium ERP Software. Small Medium ERP Implementor. ERP Implementer. ERP Implementation. Syspro Implementer. Syspro Implementation. Small Medium ERP Implementer. Small Medium ERP Implementation. ERP Manufacturing Software. ERP Manufacturing Systems. ERP for Manufacturing. ERP for Manufacturing Industry. ERP Distribution Software. ERP Distribution Systems. ERP for Distribution. ERP in Distributon. ERP for Distribution Industry. ERP Financial Software. ERP Financial Systems. ERP for Financial. ERP in Financial. ERP for Financial Industry. ERP EPC Software. ERP EPC Systems. ERP for EPC Companies. ERP for EPC Industry. ERP Solution for EPC Companies. Budget Planning. E-Budgeting. Financial Consolidation Software. SAP Indonesia. SAP Implementor. SAP Implementer. SAP Implementation. SAP ERP.