Accounts Receivable
The Accounts Receivable Module is a subsidiary ledger that updates the General Ledger during the nightly batch process. Accounts Receivables typically are current assets created every time an agency provides a service to its customers or sells goods of any kind. A "receivable" represents an amount that a customer owes an agency. Receivables are usually short term assets that are turned into cash within 30 to 90 days from the date of transaction.
The Accounts Receivable Module allows an agency to:
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Record initial accounts receivable items
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Make adjustments to open items by use of debit memos or credit memos
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Apply payments against open receivable items
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Record non-receivable related revenue by use of direct journal
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Make use of inquiry panels to determine the status of an item
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Order reports for management and reconciliation purposes
