|
Accounts Receivable |
Top Previous Next |
|
The Accounts Receivable system tracks customer invoices and payments. When setting up customers you specify the currency, thereby setting the currency for their invoices. The Aged Receivables reports and AR Invoices screen allow currency selection, so you can see how much is owed to you in each currency. You set up at least one bank account for each currency. The Bank Book shows transactions and balances for each bank account. For more info on multi-currency operation see Multi-currency Overview. Invoices are not purged when fully paid, but are instead retained for sales analysis reporting. Sales taxes are calculated automatically and are very flexible to facilitate VAT, GST, PST, HST, etc. in various countries. Invoices can be computer printed or hand-written. Invoices print on plain paper to facilitate faxing and to avoid the expense of pre-printed forms. The “open item” method is used to apply payments against specific invoices. Adjustments, discounts, and write-offs can be entered when entering the payment info. An integrated phone dialer is available by right-clicking on customers, invoices, or payments. Data is passed to the GL system automatically via Journal Vouchers with revenues converted from foreign currency to domestic currency. "You can trade globally in multiple currencies while your books remain in domestic currency". GL accounts for AR, discounts, and gain/loss on foreign exchange are retrieved from the currencies table.
Customers |