Maximizing Efficiency in Accounts Receivable: Tracking, Ageing Reports, and Fraud Detection
Managing your sales documents and financial transactions can be a daunting task, especially when dealing with inventory, retail, service, draws, and rental sales. Our comprehensive system ensures that all your sales documents remain online indefinitely, providing a seamless way to track accounts receivable by invoice number or balance. With detailed transaction history, ageing reports, and custom statements, you can efficiently manage your customer accounts and detect any unusual activities.
Plus & Minus also offers robust features for setting credit limits, processing invoice offsets, and recording cash receipts. Whether you need to credit test customers, handle partial payments, or generate deposit slips, our tools are designed to enhance your financial control and improve your business’s operational efficiency. Dive into our guide to discover how to leverage these features to optimize your financial processes and ensure smooth business operations.
Ageing
Ageing report has five ageing periods that move with the system date. It generates a statistical payment history you can use to quantify average payment time for each customer and all customers. Each customer lists the last payment date and amount, and there is a “hanging credit” recap that shows customers with unusual activity.
You can order the report by: sub #, alphabetical, job #, wild card, and sales person. Options exist to report open or all invoices, detail, summarized, balance, and zero. There is also a modified customer master option for fraud detection. It shows you activity for any customer with a change made to the customer sub master for a given time period.
Statements
You can send Statements to slow-paying customers, either printed or via email since the statement writer can print or email supporting invoices. In addition, you can customize statements using Excel. Plus & Minus calculates finance charges using various formula options.
Credit Limits
The Sales Doc Writers can credit test a customer by the total of unpaid invoices, open sales ships, and open sales orders. You can then set Credit limits by customer, by amount, and/or days outstanding, and restrict order processing by using dynamic passwords.
Invoice Item Offset
Invoice Item Offset lets you clear hanging credits into an income statement account or offset it against other customers or vendors.
Cash Receipts
Cash Receipts, in a worksheet format, record receipts with an option to record partial pay. Receipt clerks can quit and come back later to continue the same receipts session. It supports the interrogation of PDF files, sales, documents, and transactions for each invoice. It also generates a deposit slip (if using blank check stock) or a deposit register (if using a bank scanner in your office).