Accounts Receivable Features

Highly functional, efficient, and easy to learn, the StreamV Accounts Receivable (AR) module provides the level of receivables control required for maximum cash management and better, more informed, management decisions.  The Accounts Receivable system is a real-time, transaction driven system that posts data on-line to the subsidiary files and the General Ledger.  The automatic on-line, real-time posting to the General Ledger of sales, payment, and invoice adjustment transactions assures that the company's cash position, as well as the customer's credit availability, is continuously available.  As soon as activity is applied to a customer's invoice, the customer's available credit is updated to allow the processing of additional sales.  Multiple cash and receivable accounts may be maintained and adjustments can be charged to general ledger accounts.

The consistent interface, combined with artificial intelligence, assures a high level of operator productivity.  During cash application the operator is prompted with the appropriate amount to be applied to open invoices, including the automatic calculation of any available prompt payment discounts.  Report procedures analyze the selection criteria entered to optimize index selection for the best performance.  Repetitive procedures are optimized to require the minimum number of keystrokes.

Extensive inquiry screens, as well as operational and management reports, provide the information needed to make fast and accurate decisions.  All accounts receivable information is available on-line to answer telephone inquires without running extensive reports or researching paper files.  Using inquiry screens, operators can access multiple layers of detail from open invoices to applied payment check numbers and invoice line item prices, to payment histories.

Aging reports can be run by customer, sales rep, or collector and include options to run based on invoice or due date.  Complete activity journals and registers are available to provide the tightest on-line audit trail available.  Automatic finance charge calculation and extensive statement printing capabilities assure timely collection of the company's receivables and maximize cash flow.

      High Speed Cash Application Screen:

      Open invoice amounts and customer balances are updated on-line.

      Quickly apply payments, pre-payments and other credit memos to open invoices in a sophisticated but simple on-line environment.

      Create Pre-payment, Overpayment, and Debit Memo invoice records during payment entry to record unresolved payments or deductions made by your customers.

      Automatic Calculation of prompt payment discounts based on invoice and terms information and payment posting date.

      Charge off small invoice amounts to defined accounts in the General ledger during payment entry (useful for writing off small un-collectible invoice amounts).

      Process Parent Company and Finance Company payments against open invoices.  Pay invoices issued to multiple companies with one check without splitting the check amount.

      Foreign Currency invoice and payment processing is supported.

      Batch numbers can be manually specified or automatically assigned by the system.

      User definable posting dates allow customer payment history to be updated with date that payments are actually received regardless of date that payment is actually processed.

      Comments (text information) can be attached to invoice and check records and can be viewed, created, or edited during payment entry. 

      Payment transactions are automatically recorded in the General Ledger.

      Apply cash to multiple Cash and Accounts Receivable accounts.

      Deposit Management Program:

      Allows verification of batch totals on-line before updating the general ledger cash and cash clearing accounts.

      Supports multiple cash and cash clearing accounts.

      Batch detail (individual check records) can be viewed from within the deposit program allowing easier reconciliation of physical receipts vs. system postings.

      Multi-currency support.

      User definable posting dates allow deposits to be dated using the actual deposit date regardless of when the deposit is actually processed.

      Fast Invoice Adjustment Screen:

      Quickly locate an invoice and charge the balance or a portion of it to a selected GL account or accounts.

      Batch number (optional) can be assigned to transactions for auditing and reporting purposes.

      Transaction posting date may be specified by user.

      Comment Support

      Comments (text information) can be attached to AR Invoice and AR Check documents.  These comments may be viewed, created, and edited in the Payment Entry program and in several other Inquiry programs.

      AR invoice comments (collection and payment notes) may be printed on AR Aging reports.

      Customer Invoice History Look-up:

      Provides instant on-line access to open and closed invoices for an individual customer.

      Detailed information is available for each invoice including shipment address, terms, open balance, order taker, and sales rep.  Invoice line item detail includes pricing, cost, shipment dates, and serial number information.

      Invoices for a particular customer can be located quickly by invoice number, customer purchase order number, or reference number.

      Payment and shipping information (including UPS and FEDEX tracking numbers) for each invoice may be viewed on-line.

      Sales and payment comments (attached to invoice and check records) can be viewed, edited or created from within the program.

      Allows immediate invoice printing.

      AR Check Inquiry:

      Quickly locate customer checks by company, check number, batch number or deposit number.

      Display s payment detail for an individual check.  Invoice numbers and amounts paid against each invoice are listed individually.

      Void a check or reverse a payment transaction by finding the appropriate check and pressing a button.  Optionally update NSF check counter for customer associated with the payment being voided.

      Place Overdue Customers On Hold:

      Select by number of days/amount overdue.

      Automatically sets customers which meet overdue criteria to hold status to ensure that all orders are reviewed prior to shipment.

      Create Finance Charge Invoices for overdue accounts:

      Automatic calculation of finance charges using user-definable selections.

      Finance Charge rates can be individually set for each customer.

      Process a single customer or all customers.

      Minimum finance charge may be set by user.

      Select by terms code to avoid charging finance charges on COD invoices.

      Reprint an Invoice anytime:

      Select invoices to print by customer, terms type, and/or payment status.

      Invoice history is maintained on-line and is only limited by disk space.

      Invoice comments, customer item numbers, customer/item comments and other information can be printed on each invoice as required.

      Sophisticated Statement Generation:

      Print Statements for all customers, a range of customers, only Past Due accounts, accounts with a minimum balance due, or only customers of a certain type.

      Output only invoices through a selected date and payments on accounts since a selected date.

      Release Orders On Hold:

      Review account history before release.

          Optionally release and route to warehouse.

      Auto-Process Sales Tax (optional):

      Extremely flexible and highly automated sales tax system.

      A National Sales Tax Table can be set up using the Zip Code file.  This allows automatic assignment of Customer and Shipto taxcodes.

      The Tax Type (which defines customer sales tax type and status) and the Tax Code (which defines the tax rate applicable in each geographic area) can be defaulted for each new customer or ship to address based on company policy and on the zip code of the customer or shipping address.

      Multiple sales tax situations may be handled for a single customer record by changing Taxtypes and Taxcodes as required for each ShipTo address or individual sales order.

      Produce monthly/quarterly sales tax reports by taxing authority.

      Flexible Reports:

      Reports may be printed, displayed, saved to file, or automatically e-mailed.

      Reports can be run after hours to ensure accurate cut-offs or to minimize system down time during working hours.

      AR information may be output to spreadsheet compatible format for further analysis.

      Invoice Register:

      Provides report of invoice activity for a range of dates or numbers.

      Audits invoice integrity and line item synchronization.

      Select by terms type.

      Optionally include invoice adjustments and debit memos.

      Cash Receipts Journal by Account:

      Include all activity in the Cash Account during a range of dates.

      Select by source and batch number.

      AR Journal:

      Reports all activity posted to the AR control account during the specified date range.

      Select by source, date, batch number.

      Automatically audits AR journal entry activity  vs. AR invoice activity to identify posting problems prior to daily or month-end closing procedures

      Flexible Accounts Receivable Aging:

      Age by invoice date or due date.

      Report all detail or summary only.

      Optionally include payments, credits, and closed invoices.

      Age as "current" and 3 selectable time periods.

      Select only invoices that have recently become overdue.

      Select based on invoice terms.

      Select by customer type, sales rep, and/or status.

      Select by Division/Department.

      Accounts Receivable Aging by Collector:

      AR Aging by Collector provides all the utility of the normal Aging Report, but is ordered by Collector with added selections for analysis.

      Multiple selection criteria.

      Accounts Receivable Aging by Rep:

      AR Aging by Rep provides all the utility of the normal Aging Report, but is ordered by Sales Rep with added selections for analysis.

      Multiple selection criteria.

      Cost of Sales Report:

      Produces a detailed analysis of costs associated with the invoices selected including revenue, cost of goods, net sales, shipping, sales tax, discounts, and margin by item and invoice.

      Select invoices by date, invoice number, and other criteria.

      Output detail or summary only.

      Cost of Sales by Customer:

      Provides detailed analysis of each invoice's profitability.

      Allows for the selection of a single customer's invoices only.

      Daily Activity Report:

      Provides a general overview of sales activity, including invoice numbers issued, number of invoices, total sales, returns, net sales, and shipping.

      Select by date range, rep, division, department, and location.

      Completely Multi-user

      No "file busy" messages, ever.

      Integration with Customer Master: Customer credit availability is updated as payments and adjustments are entered and as new invoices and sales orders are created.  Accounts may be automatically placed on hold by the system for overdue invoices.  Statements and Finance Charge invoices may be created as required for selected accounts. 

      Integration with Sales Order Processing: Orders are audited according to user definable criteria as they are created and edited and as inventory is allocated to them.  Orders on hold for terms, credit, price, or other reasons are automatically routed to the appropriate personnel for action and are not available to be invoiced until the hold has been cleared.  This ensures that invoices are created in accordance with company policy and that problem accounts are identified before additional shipments are sent to them.

      Integration with automated UPS, FEDEX Processing: Orders which are set to ship using either FEDEX or UPS shipping methods can be automatically manifested after the items on the invoice are confirmed.  The appropriate UPS or FEDEX overlays are executed automatically during invoicing and they prompt the user for the number of boxes being shipped, the weight of each box and the appropriate tracking numbers if applicable.  The shipping charges and any other charges such as handling, insurance, etc are automatically calculated based on the box weight, service being used, and zone that the shipment is being shipped into.  These charges are returned to the invoicing program and included on the invoice   Weights can also be automatically passed to the system if an electronic scale is being used.  Tracking numbers can be scammed into the system or they can be automatically assigned based on the level of automation desired.  Calculate the appropriate charges for each box based on the weight and destination zone. 

      Integration with General Ledger: The General Ledger system is updated on an on-line, real-time basis as payment entry and invoice adjustment transactions are processed.  The accounts receivable control account, cash clearing account and any other general ledger accounts which are used for payment or invoice adjustment transactions are updated immediately during processing.  Invoices which are created by the payment entry program are also immediately posted to the general ledger as each transaction is saved.


Accounts Receivable Overview