Accounts Receivable

Financials | Accounts Receivable Aids | Receipt Voucher

Accounts Receivable

Allows the user to create a transaction for the balance due to a firm for goods and services delivered or used but not yet paid for by customers.

Requirements before using Accounts Receivable

• The user should setup the following Maintenance Module in order to proceed on using the Accounts Receivable
  1. Customer
  2. Chart of Account
  3. Proforma

Accounts Receivable Record Status

Status	Description
UNPAID	If the Accounts Receivable has been created
POSTED	If the Accounts Receivable is Posted and ready to receive its payment
WITH PARTIAL PAYMENT	If the Accounts Receivable is Paid Partially
PAID	If the Accounts Receivable is completely Paid
CANCELLED	If the Accounts Receivable is cancelled

Adding Accounts Receivable

1. Go to Financials then click Accounts Receivable
2. Click Add Accounts Receivable
3. Fill up the necessary fields in the Header Part
4. Fill up the necessary fields in the Accounting Details then Click Save

Adding Accounts Receivable Information

Field	Description	Expected Values
1. Voucher No.	•Voucher Reference number generated upon creation	•Alphanumeric(Auto-Generated)
2.Customers	•Name of Customer	•Customer List provided in the Customer  Maintenance Module
3.Tax Identification Number(TIN)	•TIN of the Customer	•Number(Auto-Generated base from Customer's Profile)
4.Terms	•Days on completing the sale	•Number(Auto-Generated base from the Customer's Profile)
5.Address	•Address of the Customer	•Alphanumeric(Auto-Generated base from the Customer's Profile)
6.Proforma	•Financial statements is to facilitate comparisons of historic data and projections of future performance.	•Proforma list provided in the Proforma Maintenance Module
7.Transaction Date	•Date when the Payable Transaction was created	•Date
8.Due Date	•Due date of Payable Transaction	•Date
9.Invoice No	•Invoice number reference for the transaction	•Alphanumeric
10.Reference No	•Reference No for the transaction	•Number
11.Notes	•Other Remarks on the Transaction	•Alphanumeric
12.Account	•Account to be charged for credit and debit amount on the transaction	•Account list in the Chart of Accounts Maintenance Module
13.Description	•Any remarks or Notes in the Account Line of the transaction	•Alphanumeric
14.Debit	•Debit Amount for the Transaction	•Number
15.Credit	•Credit Amount for the Transaction	•Number
16.Value Added Tax(VAT)	•VAT to be applied in the amount on the accounting details in the transaction	•Tick/Untick
17.Tax	•Type of Tax to be applied when the VAT is ticked	•Tax List provided in the Tax Maintenance Module

Notes:

• Accounts Receivable Transactions are auto-generated when it is created from Billing and Delivery Receipt with Sales Invoice in it.

• Account should be on ACTIVE status when using it upon creating or editing a transaction.
  • This can be seen in Chart of Account Maintenance Module.
• Proforma should be on ACTIVE status when using it upon creating or editing a transaction.
  • This can be seen in Proforma Maintenance Module
• Customer should be on ACTIVE status when using it upon creating or editing a transaction.
  • This can be seen in Customers Maintenance Module
• Tax should be on ACTIVE status when using it upon creating or editing a transaction.
  • This can be seen in Tax Maintenance Module
  • This will be only available in the transaction when the VAT column is checked.

Importing and Exporting Accounts Receivable

1. Under Accounts Receivable Screen, Click Options
2. Under Options, the user may Export or Import Accounts Receivable
   • When Exporting the records, the user may also use the filter options such as Date Filter, Search Bar and Customer filter for precise searching and exporting of records.
   • For batch creation, under Accounts Receivable menu, click options then choose Import Accounts Receivable button
     • Download the Template provided in the Step 1
     • Fill up the information needed for each column of the template
     • Upload the updated template then click Import to Proceed

Accounts Receivable Record Option

Actions Available base on Accounts Receivable Record Status

Status	View	Edit	Post	Receive Payment	Cancel
UNPAID	☑	☑	☑	☑	☑
POSTED	☑			☑
WITH PARTIAL PAYMENT	☑			☑
PAID	☑
CANCELLED	☑

Notes:

• The user can only Receive Payment the Accounts Receivable if the Receivable transaction has tag reference on it.
  • Posted Receivable can also received payments but cannot be edited.

Categories:

Modules
Financials	Accounts Receivable | Receipt Voucher | Financials
Sales	Delivery Receipt | Sales Invoice
Billing	Billing
Maintenance	Customer | Proforma | Chart of Account | Tax
Job Aid Modules
Financials Aids	Accounts Receivable Aids | Receipt Voucher Aids
Sales Aids	Delivery Receipt Aids | Sales Invoice Aids
Billing Aids	Billing Aids
Maintenance Aids	Customer Aids | Proforma Aids | Chart of Accounts Aids | Tax Aids