Accounts Receivable Overview

This section provides an Overview of the StreamV Accounts Receivable System. It describes the main activities that are perfomed with the system and it provides an overview of the various options that  are available in the system. The topics which are described in this section include.

AR Document Types – Describes the various types of Accounts Receivable Invoice documents that can be created in the system.

AR Invoice Creation – This section describes the various places in the system where invoice records are created, and how these invoice records are used when processing transactions for your customers.

Printing and Emailing Invoices - Describes how customer invoice documents can be produced and the different options that are available for sending the documents to your customers, or producing them for your own internal use.

Accounts Receivable Subledger Management – StreamV allows you to maintain one or more accounts receivable subledgers.  An AR subledger is a logical group of invoices.  Each subledger or group of invoices is tracked at both the invoice and at the General Ledger Level.  One default subledger is required to process AR transactions.  Additional optional subledgers can also be maintained in order to allow you to classify and report on invoices by company type (such as Group Company, Holding Company, or Third Party invoices) or based on the likelihood of collecting payment (normal receivables vs. doubtful accounts).

Posting Sales to the GL– The StreamV Accounts Receivable system allows you to operate in a completely on-line, real time environment.  In this default mode, the system posts sales to the general ledger immediately as each invoice is created, and it posts payment transactions on-line as they are processed. StreamV also allows you to optionally post sales in batch mode to reduce the volume of posting to the AR account in high volume situations.  This section describes how sales are posted in both default (on-line) and batch mode.

AR Payment Processing – This section describes how cash, check, credit card, and other payments are applied to customer invoices.  Manual and automated payment processing are discussed.  This section also describes how overpayment, prepayment and debit memo documents can be created during payment processing to track unapplied or overapplied customer payments.  Parent and Finance Company payment processing (applying once payment to the invoices for more than one customer) are also discussed.

AR Deposit Processing – As customer payments are applied to open inoices, the system automatically updates the appropriate invoice and customer balances.  The system also posts each payment to the appropriate Accounts Receivable account in the General Ledger.  As each payment is applied, the system tracks the payment in a cash clearing account.  This clearing account is used to proof the totals for the payments being applied.   The clearing account also allows you to control the timing of when each deposit total is recognized (so that the cash accounts in the system reflect the transactions only when the deposit has been made).  

AR Invoice Adjustment Processing – This section  describes how accounts receivable invoice amounts can be adjusted, or written off to specific general ledger accounts.

AR Foreign Currency Processing – StreamV allows you to create orders and invoices and apply payments using  your house currency.  The system also allows you to create orders and invoices, and to apply payments using foreign currencies.  

Credit Request Processing

Credit Request Documents are used to record a customer request for a price, freight or other non-inventory credit and to forward the request to the accounts receivable department.  If the Credit Req  uest is approved, the document can be used to quickly generate a credit for the customer using the Direct Invoicing program.

AR Refund Processing

The Issue Refund Check process allows you to refund an open negative accounts receivable balance to a customer.  The system automatically generates a refund check and closes out the negative invoice balances being refunded.

Non-Inventory Invoicing

The Non-Inventory Invoicing option allows you to generate accounts receivable invoices that are directly posted to a general ledger account.  Non-Inventory invoices are used to handle special situations that do not involve the shipment or receipt of product.  Non-Inventory invoicing can be used to generate invoices or credits for items such as rebates, advertising, or other items that need to be directly charged to a specific GL account.

Direct Invoicing

The Direct Invoicing program allows you to create AR invoices that are not associated with a specific customer sales order. The Direct Invoicing program can be used to quickly process invoices for customer will call, walk in, or pick up situations, and it can also be used to process customer shipping, price and sales tax adjustments.

The Direct Invoicing program can be used to create invoices for both stocking and nonstock inventory items.  Nonstock items are used to issue customer credits for shipping, price and other adjustments that do not involve the actual shipment of product.

The Direct Invoicing program handles serialized inventory items, and it calculates and applies sales tax based on the Customer, Shipto and Item information being processed. The Direct Invoicing program also prevents you from selling inventory that has already been allocated to shop orders or customer sales orders.

Ticket Billing

Ticket Billing allows you to consolidate multiple shipments for a customer into one invoice.  Ticket Billing allows you to convert the sales orders for a customer into “shippers” during the invoicing process.  This creates a no charge shipper type invoice document, and creates records in the Pending file to record the inventory items that have been shipped but not invoiced.  The Pending records store the item pricing and other information and can later be used to generate an invoice for the customer (which can contain pending lines from multiple invoices for the customer).  This invoice can be created on a weekly, monthly or as needed basis.

Summary Invoicing

Summary Invoicing allows you to close out the open accounts receivable invoice balances for a customer and replace them with one summary invoice for the total of the closed out invoices.  This option is used when your customer does not want to receive an invoice for each shipment.


AR Documents

AR Invoice Creation

Printing and Emailing Invoices

Accounts Receivable Sub-ledger Management

Posting Sales to the GL

AR Payment Processing

AR Deposit Processing

AR Invoice Adjustments, writing off AR Invoice Balances

Processing Customer Returns

Correcting AR Invoice Errors

Voiding or Reversing Customer Payments

AR Foreign Currency Processing

Credit Requests

Direct Invoicing Overview

AR Refund Processing

Non-Inventory Invoicing

Ticket Billing

Summary Billing