Accolent ERP allows taking deposits or payments at any time on orders. Prior to invoicing, any such payments are linked to the specific order and are booked to a Customer Deposits liability account in the General Ledger. The Customer Deposits Account must be set up in the Warehouse GL Defaults. The link between the deposit […]
Category: Collections
Giving AR Payment Discounts
Accolent ERP allows for early payment discount terms to be specified by the customer. If early payment discounts are available on a particular invoice paid prior to the expiration of the discount, the Accounts Receivable (AR) payment receipts screen allows giving these discounts when recording the payment. If payment discounts have expired, they may be […]
Entering AR Write-Offs
Accolent ERP allows users to enter write-offs on Accounts Receivable (AR) items in conjunction with receiving payments. Write-offs may be used to eliminate small balances outstanding or to reverse interest charged but not paid or for other purposes. Receiving Payment To record a payment on account, go to Receivables > Payment Receipts > List Payment […]
Customer AR Balances
Accolent ERP provides the Customer’s open AR Balance in several different places throughout the system. Customer Record Go to the Customer screen – shows the Current AR Balance (as of today). Collections screen Go to Customer > Views > Collections – shows detail of Open (and Closed) Invoices (as of today) At the top right […]
General Ledger Posting of Interest
Accolent ERP allows for charging a Customer interest on invoices that are outstanding past the due date based on the terms allowed that Customer. If the system is set up to charge interest, interest will accrue on the unpaid balance after the due date. Interest is recomputed daily in the database and updated to the […]
Decimal Places and Rounding
Accolent ERP does all internal calculations to 5 decimal places by default. When the system multiplies a unit price or a unit cost by quantity to calculate an extended dollar value, the result is rounded to 2 decimal places and the additional digits are dropped. Subsequent calculations such as to calculate sales tax are performed […]
Taking Customer Payments
Accolent ERP allows for taking payments or deposits on orders. These payments are held as Customer Deposits and may be applied when the orders are invoiced. Once orders are invoiced, payments for one or more invoices can be taken directly and applied to invoices. Taking Payment on an Order Order 66605 has an order total […]
Receiving AR Payments
Accolent ERP’s Accounts Receivable (AR) module tracks payment receipts and collections. The system allows users to record payments against Customers’ AR accounts. Customer’s AR shows Invoice amounts due which automatically reflect prior payments made, calculate interest on overdue accounts, calculate any early-payment discounts available, and allow any write-offs desired. Payments received from Customers can be […]