customer receivable managementdocumentation.richer.ca/...receivable_mgmt.pdf · customer receivable...
TRANSCRIPT
Customer Receivable Management
Goals for this session Reviewfeaturestomanagecustomerreceivables• Reducecreditrisk• Reduceaveragedaystopay• ReduceoutstandingAR-90%1-30days• Reduceadministra?ve?me
Features to Review HoldsandcreditlimitsAutomatedcollec?onsNotePadnotesInvoicetermsCashcustomersFinancechargesAddi?onalop?ons
Holds & Credit Limits Anexcellentwaytomanageyourcustomer’screditlimit
Holds & Credit Limits Hold:Stopsthecustomerfromdoingnewbusinesswithoutapproval
Twolevelsofholds:1. FinancialsA/RCustomer2. EnrichCustomer
CreditLimit:Theamountofopenreceivablesyouarewillingtoallowthecustomertokeep
Holds & Credit Limits • Limitsaremaintainedatthecustomerlevel(allsuffixescombined)
• Holdsaremaintainedatthecustomerlevel,eitherviaholdcodeorholdflag• Codesputtheen?recustomer(allsuffixes)onhold• Y/Nflagsputtheindividualsuffixesonhold
Automatic Customer Holds Customerscanautoma?callybeplacedonholdor
removedfromholdbasedon: Amountspastdue(peragingbucket) or
Dayspastdue
Referencefile:5135Automa4cCustomerHoldParameters
Automatic Customer Holds
Automa?callyputcustomersonhold• Certainnumberofpastduedays Or• Certainamountofagedreceivables
SetdifferentrulesbasedoncustomertypeMarktheinvoicedoubZulA[achesanotetotheinvoiceAutoma?callyremovesthehold
PTF631
Customer Terms • Flexibilitywithse]ngPaymentTermsandPORequiredflags– ARCustomerMaster– EnrichCustomerMasterTermsOverride– OrderTypeOverride
• E.gSetallFuelInvoicestoNet7days• Referencefile0042
Credit Limit Overrides
Credit Information in Enrich
Credit Checking on Rental
What about cash customers?
Advantages of Setting up Cash Customers
• Requirepaymenttobetaken• Automa?callyappliescashtoinvoice• KeepsCustomerMasterclean- Usesmiscellaneouscustomerfile
• Setup- DeterminedbyCustomerClass- Unlimitednumberofcustomers• Byloca?on• Bytype• Bycustomer
Grouping Customers
Grouping Customers
Customerscanbegroupedby:• En?ty–8-digitcustomernumbercombiningallsuffixes
• Suffix–3-digitextensiontothecustomeriden?fyingthecustomerloca?on
• Group/BuyGroup–a[achtheparent8-digiten?tynumbertoallrelatedentriestocreateagroup
• CustomerType–groupmul?plecustomerstogetherforspecificrepor?ng
Grouping Customers RecommendedReports• BOAreports:- InvoiceControlSheet- ATBDetailsAsAt- ContractEquipmentU?liza?on- ContractRevenueSummary- CustomerLis?ng
• Core:- CustomerStatements- AgedTrialBalance
Note Pad
Agreattooltokeeptrackofnotes–nomoreyellows4ckynotes!!
Note Pad • Ausefultooltocapturenotesonacustomerwithregardtoanoutstanding
invoiceorpayment• AccessiblefromanywhereinInquiry• ViewableinInquiry• Notescanbea[achedatanEn?ty,Invoice,orPaymentlevel• A[achafollow-updatetohelptrackwhennotesaretobereviewed
Note Pad • InInquiry,ifyouseeanasteriskbesidethecustomernumbera
noteisa[ached
Note Pad • NotescanbeviewedinInquiry
- ViaCustomer/Invoice
Note Pad Inquiry
Note Template • Cancreateatemplatethatcanbeusedasadefaultwhencrea?ngnewnotes
- Usesa3-digitcode–onceenteredintothe
newnote,itwillappear
- Iseditableinthenewnote
TemplatesaresetupinWorkBench/MaintainNoteTemplates
Note Pad Template
BOA Report – Note Pad Review
BOA Reports – Note Pad
• NotePadReview
• InvoiceControlSheet
• ATBCombinedSummary
• ATBDetailGrid
• CustomerBalances–STDAging
Automated Collections
Automa?callydrajandapplyfundstoopeninvoices
Automated Collections
Automated Collections
• Abletocollectdirectdebitsautoma?callyfromcustomersandapplytoinvoicesandcreditnotes
• SetupanACH/EFTagreementwithyourcustomertodrajfundsfromtheiraccountinse[lementoftheiroutstandinginvoices
Automated Collections • Thisprocessno?fiesyourcustomeraboutthe
paymenttobedrajed:- createsafileforyoutosendtoyourbank- automa?callyappliesthefundstotheoutstandinginvoice
uponreceiptoffunds
Reports – Customer AR Position
• RecommendedReports:- AgedTrialBalanceAsAt
- AgedTrialBalanceCombinedSummary§ CustomersPastDuexDays§ NotesFollowUp
- InvoiceControlSheet§ DaysPastDue§ Duein7Days§ Notes&LastContactDates§ InvoicesInAutomatedCollec?ons
Other Options for A/R • FinanceCharges
– Chargesa%ofpastduebalance– Mul?ple%ratestructurefordifferentcustomers– Tolerancecharges
• Alwayschargeaminimumamount• Don’tchargeunlesstheminimumismet
– Op?onallysendF/Cinvoices– Op?onallyposttorevenue
• At?meofchargecrea?on• At?meofpayment
Other Options for A/R • PrePaids– CollectontheLeaseupfront
• Deposits– Invoicethedepositupfrontandautoma?callyusethecreditattheendofthelease
• Ne]ngAPpaymentsagainstAR– Creditthecustomervs.payinginAP
• Whenavendorisalsoacustomer
• Refunds– TransfercreditbalancestoAPforrefund
Helpful Documentation
• PDF Manuals: https://www.richer.ca
Click on Documentation button and log into secured site Click on “Support” Click on “Documentation” Click on the module Click on the manual you wish to learn more about
Accounts Receivable AR Reports and Inquiries
• Contact our enrich help desk to arrange
consultation services
Final Thoughts and Questions???