AR Receiving Version

Entering Receipts

The characteristics that apply to a customer also default to that customer's receipts.
Any customer default, however, can be changed on an individual receipt. Using all customer management features, therefore, facilitates the receipt entry process.

Time-saving features of receipt management include:

• Organizing receipts by assigning them to groups.
• Providing optional user controls, such as the number of receipts and the total dollar amount.
• Providing cash from multiple sources such as lockboxes, automated clearing houses (ACH), etc.
• Applying receipts automatically against the customer's outstanding items.
• Entering and applying receipts using either an automatic or manual method.
• Managing chargebacks and write-offs.
• Using cash tolerances and late charges.
• Creating receipt-specific notes.

Receipt Management Features

Receipt Filter

Accounts Receivable enables you to establish a filter that determines which receipts appear in a receipt list.
Receipt entry status, receipt type, and other receipt attributes are included in the available selection criteria.

Receipt Groups

During receipt entry, you can give a group name to a set of receipts.
Receipt group names are used to identify the source of a set of receipts, such as the user who enters them.

Receipt group names are a method for locating a particular batch of receipts (as well as the conventional method of finding receipts by number or date).
Controls can be applied to each receipt group, such as the need to enter the number of individual receipts and the total amount of the receipt group.

Importing Receipts from Another Source

Receipts can be entered into the Accounts Receivable application from a number of external sources, such as:

• Lockboxes
• Automated clearing houses
• Wire transfer

Receipt Entry

Receipt entry, whether it is one or many, is always performed through a receipt group. You can:

• Register receipts for application at a later time.
• Apply receipts as they are entered.
• Work with discount amounts.
• Have AR automatically select a receipt application method.
• Apply receipts either automatically or manually.
• Apply receipts using various matching criteria.

Applying Receipts

Accounts Receivable provides two methods for applying receipts:

• Automatically, based on powerful algorithms that you can define. See the next topic for more on automatic application methods.
• Manually against either each open invoice or in balance forward method.

Automatic Application Methods

AR lets you identify the type of receipt application method for an organization or a customer.
The application method can be based on:

• Current/Past Due Order
• Past Due/Current Order
• Per Remit

Partial Payments, Chargebacks, and Write-offs

Accounts Receivable supports an accounting environment that easily allows for exception processing, partial payments, chargebacks, and write-offs:

• Partial payments refer to a payment amount less than or greater than an invoice amount.
• Chargebacks refer to a deduction made by a customer to which further investigation is necessary. Chargebacks are sometimes referred to as exception processing.
• Write-offs can be performed upon a small balance or should a customer's credit be suspended.