Under Accounts Receivable in the Sales module, you will find procedures that are related to how the system manages the Accounts Receivable Ledger.
Below you will find a brief description of all the procedures that can be found under the Accounts Receivable menu in the Sales module of a complete MONITOR system.
Register Incoming Payments
This procedure is used to register invoice payments that you receive. You can enter payments using Bank giro, PlusGiro or Cash in this procedure. You can enter the amount to pay in the currency of your choice. Any "on account" payments are made in a separate procedure.
Incoming Payment List
In this procedure, you can register incoming payments of invoices. The difference between this procedure and the abovementioned procedure is that this procedure shows all the unpaid invoices at the same time on your screen, and you can check them off with a check mark without having to enter the invoice number.
Payment Matching
This procedure is used to confirm incoming payment files from the Bank Giro and PlusGiro. When loading the file, an automatic matching is made against the accounts receivable. The invoices will be registered as paid if the payment info in the file coincides with the accounts receivable regarding the amount and invoice number.
Cancel Incoming Payments
Here you have the option of canceling or "undoing" a payment that you have registered. You can cancel a payment if, for example, you registered an invoice as paid by mistake, or registered it with the wrong payment date.
Print Incoming Payment Ledger / Accounting Orders
The incoming payment ledger shows those invoices that have been paid and concludes with a total paid amount. The incoming payments are registered in a separate procedure called Register Incoming Payments. This ledger concludes with a total accounting order, which is formatted like a voucher, and contains all the payments in the ledger.
Accounts Receivable Ledger
You can print lists from the Accounts Receivable Ledger in this procedure. The accounts receivable ledger consists of all the accounts receivables (debts due from customers) that have been updated in the system. Accounts receivables are created using either Print Invoices or Print Interest Invoices. You can also update the Accounts Receivable Ledger.
Accounts Receivable Analysis
This is where you analyze and find information about the company’s accounts receivables. This procedure can be seen as a complement to the Accounts Receivable Ledger procedure, mainly through the extended classification and selecting options. For example, you can view the accounts receivable as a total per month, as a compact total per customer, or in invoice number order.
Search Accounts Receivable Ledger
Here you can search a selection of records in the accounts receivable ledger. This procedure is particularly useful as a tool e.g. during reconciliation. You can search both accounts receivable records (customer debts) and incoming payments received.
Payment Forecasts
This procedure is used to print forecasts over the expected incoming and outgoing payments. The same procedure can also be found in the Accounts Payable menu in the Purchase module. The information that is used as a basis for the payment forecasts is taken from the unpaid invoices in both the Accounts Payable and Accounts Receivable ledgers, as well as registered purchase orders and customer orders in the order backlog. Other factors that can affect the cash flow (such as wages etc.) are not shown in this procedure. The procedure called Other Payment Flows should be used for such cash flow.
Other Payment Flows
This procedure is used to register other cash flows in order to include them in the payment forecast, for example salaries, insurances, VAT and security contributions. The procedure is used to give a better overview over the company's incoming and outgoing payments. These payments can then be seen in a list in the Payment Forecasts procedure when using the list type Detailed/other payments.
Payment Reminder List
Here you can print a basis for printing payment reminders. Overdue invoices that have exceeded their grace period are shown here. The information shown includes Invoice number, Due date and Rest amount for each invoice, as well as how many payment reminders have been printed.
Print Payment Reminders
You can print payment reminders or account statements using this procedure. The payment reminder printout shows all the invoices that are overdue, while the account statement shows all the unpaid invoices, both overdue and not due. Before printing, you can print a list showing which invoices are overdue for each customer. This can be done in the Payment Reminder List procedure. In this procedure, you can also create payment reminder exceptions.
Interest Invoice Basis
Here you can print a basis used to create interest invoices for overdue invoices. The list shows information such as Invoice number, Due date and Interest amount for each invoice, as well as how many days late that payment were made.
Print Interest Invoices
You can print interest invoices using this procedure. The basis for sending interest invoices is created when an invoice is paid too late. The settings that determine when to charge interest must be set under the Sales tab in the Settings procedure in Global Settings. Before printing, you can print a list showing which invoices have generated an interest invoice for each customer. This is done in the Interest Invoice Basis procedure. In this procedure, you can also create interest invoice exceptions.
Print Interest Invoice Ledger / Accounting Orders
The interest invoice ledger shows which invoices have been printed as well as a total invoiced amount. You print interest invoices using the Print Interest Invoices procedure. This ledger concludes with a total accounting order, which is formatted like a voucher, and contains all the interest invoices in the ledger. After printout, you can reset the ledger/accounting orders.
On Account Payments / Set-offs
Here you register the on account payments you receive from customers. The incoming payment amount reduces the customer's balance in the accounts receivable ledger at the same time that an accounting order is updated for the payment.