Accounts Receivable Menu Accounts Receivable Menu
There are tn main Account Receivable options available. They are accessed on the Accounts Receivable Main Menu.
Invoices
Contractor Draw Request
Automatic Job Billing
Unit Price Billing
Time & Material Billing
Time Billing
Finance Charge Billing
Void Invoices
Receipts
Reports
Customers
Trade Invoices
Invoices for items and services sold independently of any job. Trade Invoices are invoices that are not connected with budgeted jobs in the Job Costing module. They are also for work that is paid on a Time and Materials basis. Trade Invoices are entered through Trade Invoice Entry.
Progress Billings
Invoices or periodic billings sent out to the contractor holders of a job, based on the job's contract price. The billing amount is determined by the percentage of the job that has been completed. Progress Billings are entered through Progress Billing Entry.
The accounting system has the capability of generating Draw Request forms and automatically generating a Progress Billing to match the bottom line billing amount of the draw request. This means that once a schedule of values has been entered into the system, billing the customer for work done involves merely updating current completion percentages on each scheduled value, submitting the draw request for owner approval, and instructing the system to bill the customer.
Sometimes known as Cost Plus Billing, Job Billings are invoices generated using costs found in the Transaction File. A series of Billing Phases is defined, each designed to track the costs posted to a group of budgeted Cost Codes. At billing time, the accounting system scans the transaction file and calculates a billing based on costs incurred in each of the billing phases.
This option allows a Unit Priced Billing based on Unit Prices set up in the Job Costing module. During each billing cycle, an AR billing is created along with AP Invoices for all subcontracts. Unit Price Billing involves the following steps: updating the units completed on each subcontract, printing vouchers, and generating invoices.
The accounting system has the capability of automatically generating a billing for employee time entered through the Payroll module. This means that once an employee's charge rate has been set, billing the customer for time reported by employees is as simple as selecting this item from the Accounts Receivable Main Menu and instructing the system to bill the customer.
This program allows for entry of receipts. Receipts may be reconciled to specific invoices for Open Invoice customers. All receipts entered here are stored in the Receipts File until they are posted.
Receipts entered for Open Invoice customers will be reconciled to any invoice(s) specified. Receipts entered for Balance Forward customers will be applied to their account without reconciling any particular invoices. Receipts may be entered and posted before the corresponding invoices are entered. When these invoices are subsequently entered, a sub-menu option allows the reconciliation of these receipts.
•Statements
Statements are printed from the posted invoices in the Invoice File. This means that any unposted invoices or receipts will not be included on the statement.
•Aging & History Reports
This program generates two different A/R reports, the Accounts Receivable History Report and the Receivables Detail Aging Report.
The Accounts Receivable History Report is a report of all invoices, progress billings, and receipts ever entered for each customer. This report may become quite lengthy if run in its entirety, because it contains all of the Accounts Receivable history on record. A limit screen may be used to specify the information desired.
The Receivables Detail Aging Report is perhaps the most useful and powerful report in the Accounts Receivable system. It lists and analyzes receivables to give a clearer understanding of the Accounts Receivable situation. This report lists all amounts still owed by each customer and analyzes them according to due date and type.
•Job Status Reports
The Receivables Job Status Report allows the contractor to view the contract status of a particular job as it applies to Accounts Receivable. For each job, the associated customer, all the billing to-date and receipt information is included.
•Customer Lists
This report limit screen generates various listings of contents in the Customer File. There are four types of listings available: Short Alphabetical Listing, Address Listing, Numerical Customer List, and Customer Detail Listing.
As a Batch of invoices is entered, a new customer which has not yet been entered into the system may be entered. However, the Customer Entry program allows for entry of more complete information. Therefore, information for each customer should eventually be updated through this program.