Acumatica Receivables

Highlighted Features

Managing receivables and automating billing operations tasks is simple with Acumatica’s Accounts Receivable management software. The AR module manages accounts receivable programs easily, allowing companies to enter customer invoices and issue customer statements, collect and apply payments, verify customer balances, track sales commissions, and deliver customer reports.

Invoice and Statement Delivery

Create and deliver customer statements and invoices yourself with Acumatica’s accounts receivable automation. It can format statements for printing or emailing. For the latter, it can generate documents in either HTML or PDF format. For reference and auditing purposes, Acumatica will always store copies of all documents with the customer record.

Credit Card Processing

Acumatica leverages Authorize.net technology to provide automation and flexibility. This means you have access to integrated, PCI compliant credit card processing and can also manually enter charges, void transactions, and issue refunds. With one of the included processing plug-ins – or by building a custom plug-in using Acumatica’s SDK – you can connect to any bank processing center. It is also easy to view credit card transactions and issue warnings about expiring credit cards using Acumatica’s inquiry screens.

Deferred Revenue Recognition

Acumatica’s deferred revenue calculations allow you to assign a deferred revenue code to each line item. This code indicates the recognition schedule that is used to post revenue to a designated liability account for tracking deferred revenue. Supporting your revenue recognition requirements, Acumatica recognizes the current part of deferred revenue when you run the deferred revenue process, and will generate the appropriate transactions accordingly.

Additional Features

Recurring Billing: With Acumatica, you can set up a recurring bill for several types of customer agreements and create contract templates which specify start and end dates, renewal terms, a billing schedule, and line items. Among those supported are recurring monthly fees, setup fees, renewal fees, consumption based fees, overage charges, and minimum char71ge amounts. For ease of including billable hours and customer support hours in customer bills, contracts are linked to case management and employee time sheets.

Multiple AR Accounts in GL: In Acumatica, by specifying a default AR account for each customer, you are able to map different groups of customers to different AR accounts within the GL. The selected account is then automatically tracked by Acumatica, which will offset the correct amount from the correct account when the customer payment is applied. If need be, you may override this default AR account during document entry

Multiple Currencies Support: Acumatica has several features to help you issue customer invoices and collect customer payments in a foreign currency. For one, the system will automatically maintain the customer balance in the foreign currency as well as your base currency. This allows you to track customer balances with ease and provide accurate reporting. Secondly, the system automatically provides real-time currency adjustments based on the effective rate. The program also performs currency triangulation and the realized gain/loss calculation. Unrealized gains and losses are calculated through the AR foreign currency balances revaluation process. Finally, Acumatica keeps a separate balance for each foreign currency .

Automated Tax Reporting: For ease of tax reporting, with Acumatica’s software, you can assign each customer a default tax zone. Doing so automatically includes the list of taxable items and reporting municipalities.The Accounts Receivable software module then automatically calculates Sales and VAT taxes and prepares reports for tax filing and reporting. For tax calculation, you can include multiple number of tax items per document line, deduction of tax amount from the price, and tax on tax calculation. You can also override the default information during document entry if need be.

Customer Balances and Credit Limit Verification: To limit your exposure to uncollectible debts, Acumatica allows you to specify a credit limit amount and a maximum overdue period for each customer, effectively enforcing credit limits at the point of invoice entry. Acumatica is able to block invoice processing or issue a warning depending on the customer configuration options. The software can also temporarily increase credit limits and create dunning messages for past-due accounts automatically.

Payment Reversal and Automatic Payment Application: For maximum efficiency, with Acumatica, you can automatically have payments applied to the oldest outstanding documents. This will drastically reduce the time spent matching payments to invoices. Also, for payments that may have been recorded or applied incorrectly, it is easy to void the entire payment or the payment’s application. Once you do so, all of the document balances affected by such transaction will be automatically reversed.

Sales Commission Calculation: Acumatica uses a sales commision schedule to automatically calculate sales commissions on a monthly, quarterly, or annual basis. Once calculated, the commision can easily be split among multiple salespeople, linked to specific line items on an invoice, and paid when the invoice is issued or when the payment is received.

Overdue Charges Calculation: Acumatica can improve your collection rate. The software allows you to assign an overdue charge code to the statement cycle. It then automatically performs the overdue charge calculation – as a percentage or as a minimum overdue – prior to the statement cycle closure and applies the charges automatically.

Small Balances Write-off: Write off small document balances with Acumatica. Just specify the maximum write-off limit and the list of the customers available for the write off. It’s that simple to simplify your operations.

Customer Account Security: To prevent any unauthorized account access, Acumatica allows you to restrict sensitive customer information. You can specify which individuals in which roles can view or modify the customer account information and balances.

Audit Trails: Once a document has been released through Acumatica, you cannot delete or cancel it. In this way, the Accounts Receivable module provides a comprehensive record of all customer transactions and a complete audit trail. If you’ve incorrectly entered information, you may enter a correcting AR document. Doing so will reverse the mistake. Acumatica keeps track of more than just the transaction itself, also recording any users who enter or modify the record. This way the program has every detail of all AR Documents. It is this level of detail – with notes and supporting electronic documents attached directly to transactions – that simplifies the auditing process.