Accounts receivable tracks payments due to a company from its customers. It contains tools to control and expedite the receipt of money from the entry of a sales order to posting payments received. The software should support the following functionality: AR company policies and procedures; customers/voucher master data; bill processing and aging analysis; credit management; cash/payment application, receipt processing; journal voucher processing; AR ledger posting; multicurrency accounting and conversions; AR transactions and controls; and AR reporting.. Accounts Receivable Functions & Features are an important module of the comprehensive ERP RFP Template for Discrete Manufacturing.
The ERP RFP template with Accounts Receivable Functions & Features for ERP is a Microsoft Excel spreadsheet (.xlsx) featuring a total of 3761 decision criteria.
The ERP RFP template allows you to quickly and easily prepare the business, functional, and technical requirements sections of the solicitation package you'll send to ERP software vendors. It ensures for:
complete response from each ERP software vendor
deep and accurate evaluation of submitted ERP proposals
impartial side-by-side comparison of ERP solutions evaluated
rational and documented selection of the best matching ERP system
The ERP software comparison report can save you up to 90% of the time you would have otherwise spent comparing all the ERP solutions from scratch.
This covers Provide a customer credit information screen allowing on-line entry and maintenance of narrative text;Provide a customer credit information screen allowing on-line entry and maintenance of account credit limit (enforced by the order entry system);Credit limits per order can be input and maintained in the customer credit information screen;Online entry and maintenance of key ratios can be done in a customer credit information screen;Historical and statistical information about customer accounts are displayed on an online account performance inquiry screen;Customer information is displayed on a collections call history screen;. Credit and Collections Management, Accounts Receivable Functions & Features
Main modules below cover Provide automated numbering of customers with user-defined sorting and sequencing capabilities;Maintain a customer table with name data;Maintain a customer table with multiple addresses for sold-to, ship-to, and bill-to;Maintain a customer table with multiple contacts, including name, location, title, phone, and fax data;Maintain a customer table with payment terms;Maintain a customer table with active or inactive status data;. Accounts Receivable Data Requirements, Accounts Receivable Functions & Features
Major modules below include Accepts manual entry of invoices, cash receipts and adjustments with G/L accounts and effective dates;Accepts debit memo and credit memo transactions as adjustments to the customer accounts;Identifies each transaction via reference number (such as batch number and line number) that is sequentially generated by the system;Invoice, cash receipt, or adjustment transactions may be entered in batches;Reject or suspend batches not balancing on either item or dollar totals;Invoice, cash receipt, or adjustment transactions may be directly entered, bypassing batch entry requirements;. On-line Requirements, Accounts Receivable Functions & Features
Functionality covered Allow either open item or balance forward processing of receivables;Compute late charges for customers not paying within a defined time period;Provide a purge process that moves accounts receivable master file records to a history file;Consolidate multiple-location customer billings into a single open item, due from one paying location;Inter-company receivables are processed and accounted for;For reporting purposes accept cash sales as a specially coded receivable and cash receipt;. Accounts Receivable Processing Requirements, Accounts Receivable Functions & Features
Main modules below cover Upon request, print a batch listing, showing every item in a particular batch;Produces an A/R journal that lists all activity posted to the A/R master file, and sorts report line items by either batch and line number or customer number;Ages the receivables according to user-definable time buckets;Ages receivables either according to invoice date or according to due date;A/R aging report shows a line item for each invoice posted to the A/R master file;Creates A/R aging reports with one line item per customer;. Reporting Requirements, Accounts Receivable Functions & Features
This includes Receive invoices and debit or credit memo transactions from the invoicing system;Automatically prepare general ledger journal entries by business unit, for cash receipts;Automatically prepare general ledger journal entries by sales, inventory, and cost of goods sold activity that occurs in the invoicing system;Automatically prepare general ledger journal entries by all discounts and deductions recognized through the cash receipts process;Automatically prepare general ledger journal entries by allowance for un-collectible accounts;Automatically prepare general ledger journal entries by write-offs;. Interfacing Requirements, Accounts Receivable Functions & Features
TEC Advisor can save you up to 90% of the time you would have otherwise spent figuring out on your own which ERP solution is the best for your needs.