Accounts Receivable with Funds Management

Accounts Receivable manages the billing of customers that owe money to the organization for goods and services.  Additional account assignments provided through the integration with Funds Management ensure that financial reporting requirements of Public Sector organizations can be met.

This scenario deals with posting accounting data for customers in accounts receivable. When you post data in accounts receivable, the system creates a document and transfers the entered data to the general ledger. General ledger (Profit and Loss) accounts and customer accounts are then updated according to the transaction concerned (for example, receivable, credit memo).
The following functions are provided to support this building block:

• Post customer invoice
• Post a credit note with invoice reference
• Posting incoming payments
• Automatic clearing of open items in customer accounts
• Manual clearing of open items in customer accounts
• Manual bank statement processing
• Dunning
• One-time-accounts postings
• Setting a credit limit
• Credit control reporting
• Display of posted documents

• All postings in accounts receivable are also recorded directly in the general ledger