Accounts Receivable (AR) is akin to the heartbeat of your company. In virtually all businesses, cash flow and cash management are critical to proper functioning of the business entity, if not its very survival. For this reason, AR should take advantage of the best software available to keep track of funds and collect what’s owed to you. Accounts receivable in Acumatica, for example, enables process automation and a variety of other customized options for effective AR management. It puts you consistently on top of your receivables, with operations and comprehensive reports that help you maintain consistent cash flow.
1) Customization to align with the way you do AR
Acumatica AR Software enables you to create templates and processes that work in alignment with the way you do AR. Your company can shape its optimal systems processes to track and receive funds owed. Examples include customized setups for recurring billing, multi-currency support and a variety of invoice formats. It is also possible to implement customized AR policies, such as write offs of small balances or company-specific sales commissions calculations.
Acumatica’s customization capabilities, along with its flexibility in configuration and integration, put accounts receivable in a position of control. The software makes it possible to reduce uncollected debts and monitor audit trails. It helps to streamline systems and facilitates departments working together. Staff can work locally or globally, reduce cumbersome data entry and eliminate errors.
2) Automation to keep the AR management process efficient
Accounts receivables software from Acumatica can automatically apply payments collected, monitor and verify balances and deliver customer reports. Sales will be able to track commissions. You can also create and define your company’s unique look and delivery of customer invoices and statements. Specific messaging, such as quarterly reminders and updated company information, can automatically be included on invoices. The software automatically formats statements for printing or output as PDF or HTML. For companies already using Acumatica software for other areas of their businesses, the accounts receivable solution seamlessly integrates with all its other modules.
3) Improved cash flow with credit card payments
To keep money moving, Acumatica is designed to accept PCI-compliant credit card payments. This integrates directly into the accounting system. Acumatica AR software handles refund, voids. It has the flexibility to manage manual charges. On-demand views of client credit card transactions and impending card account expiration dates are generated automatically, eliminating surprises or errors. Then, you can connect to any bank processing center with included plug-ins or use the option to customize your own using the Acumatica software development kit (SDK).
4) Adapting to each company’s distinctive accounting requirements
Businesses invariably have their own distinctive accounting requirements. For example, the accounting tea may have to track deferred revenue carefully to confirm the required advanced payment of certain goods or services. Acumatica AR software allows businesses to adapt to such needs. It is able to track these line items in the overall picture of revenue recognition requirements. In addition, the “Parent-Child” relationship in companies with multiple locations and branches or franchises can be managed with a feature that gives a real-time overview and helps you keep track of AR reports, consolidated late payment notices and credit verification regulations.