Jewel - Accounts Receivable

The Accounts Receivable module manages accounting data of all debtors. Entries posted here find their way to the General Ledger module where the corresponding general ledger accounts get updated. The functions available in this section include menus for documenting various transactions and easy to comprehend reports.

Its interface with the Sales Order & Invoicing and the Cash Manager modules leads to improvements in an organization’s approach to credit management.

Module Highlights

• Lets users group customers into customer categories for greater efficiency and uniformity in the data entry process
• Automatic reconciliation of ‘On Account’ receipts against open invoices
• Allows creation of advance receipts even before an invoice is raised
• Periods can be defined for aging receivables
• Manual posting gives user complete control over posting of transactions
• Facility to generate and print, registers, memos, aging analysis, customer statements for one or more accounting periods or range of values
• Invoice creation with description and references
• Posted transactions are protected from alteration ensuring highest form of data security
• Various reports generated give a customer wise analysis of the business
• The correspondence linked to these tools can be individually formulated to suit your requirements

Setup

• Customer Category
  The various customers can be grouped into categories based on certain parameters like discounts offered to them, terms and conditions, value of goods sold to them, type of items regularly purchased etc. This enables users to apply the same information while transacting with them and avoids repetition of data.
• Customer
  Details of each customer like their contact information, which category they belong to, who is the salesperson looking after them, what is their credit limit, any standard messages to be sent to them, are entered here. Once this information is available here, it is easily picked up by the system and is used in preparation of documents like invoices and receipts where this information is often used.
• Payment Terms
  This is used to make a list of terms of payment that are applicable to customers and customer categories. Each payment term that corresponds to a discount (that may or may not be applicable) and the credit period that is given to each client.
• Message
  This section has a list of commonly used messages, that need to be printed on the documents and other customer related correspondence. This will ensure that once the main documents are ready the user will not waste time re typing the message again.Each individual message is allotted a unique ID.

Transactions

• Customer Invoice
  This is used to prepare customer invoices. The user needs to enter the customer ID & the purchase order date. The other details are filled by the system and the invoice reference number is also generated by the system.
• Customer Receipt
  This feature is used to generate receipts for payments received .It also keeps a record of the movement of the payment, i.e. which bank will /has it been deposited in along with details of any balance payment due.
• Customer Invoice Payment Query
  This is used to find details of an invoice using a set of options given in an inbuilt search facility of the software. Very often users are required to follow up for some disputes or other issues with customers. This feature makes it easy for users to have to have the right facts and records available with them in a matter of seconds.
• Make Transactions View Only
  Transactions that have been entered into with customers can be made as view only to ensure that they are not altered. This can be done for a particular transaction or a range of transactions.

Reports

• Customer Invoice Register
  This is a register or a list of all the invoices that have been issued to all customers .Foe ease of analysis, the register can be customized to view the invoices issued in a range of values, e.g. invoices issued from one accounting date to another, invoices issued by customer category, by salesperson, by state, and by status of the invoices. The report also provides individual invoice values along with totals of a set of invoices.
• Customer Receipt Register
  Similar to the invoice register this has a list of receipts issued .The register can be customized with similar parameters as explained in Customer Invoice Register.
• Sales Journal
  This gives the total sales made for a particular duration and also can throw up results for sales made to customers with the total billing or invoice values .Is extremely useful to check at a glance at the value obtained from each customer. Will help the management classify & grade customers with the value of business generated from them.
• Customer Statement
  This will give the history, nature & status of the transactions made with each customer. The management will know with the aid of this report which type of customers have open transactions, with memos, without memos, and what is the balance to be recovered from a customer category. An analysis of this nature will help the organization constantly revise its credit policy towards a set of customers or a customer category leading to greater profitability fore the business.
• Customer Aging Report
  This shows the amounts due by customers for a certain time frame .The accounts team, with the help of this analysis can easily detect which payments have been due for more than 30 days, between 30 – 60 days, between 60 – 90 days etc.
• Summary Customer Activity
  This gives a one line summary of each customer with details of the credit limit assigned to each and the available balance of credit that they are eligible to use .This can be useful to check when a customer asks for more goods but may have not cleared the earlier payments outstanding.
• Setup Reports
  • Customer Category
    This gives the entire list of customer categories that have been prepared using the set up category option
  • Customer List
    Using this report we can see the entire list of customers that the organization deals with. This can be customized to be viewed with respect to salesperson, or with respect to the purchase person in the customer organization
  • Customer Payment Terms
    This displays the entire list of payment terms that have been set up using the set up payment terms option. The management can periodically review this list according to the changing business needs and economic scenario.