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ERM-IO360 Account receivable

The Accounts Receivable (A/R) module allows you to bill your customers as orders are shipped, and then track payments as they are received. Because our Intelligence Engine routes the flow of data from other ERM modules, the A/R Module is systematically populates with the appropriate data. This means that your staff no longer has to spend needless time tracking down paperwork and re-enter the data into your accounting system. Additionally, since customer and supplier invoices are automatically populated in the A/R Module, you optimize your cash management processes.

Moreover, IO360’s A/R module supports comprehensive item management and control for prepayments, installment payments and past-due invoices. A flexible payment application function is provided, permitting users to enter payments on account, apply them fully or partially against specific invoices, or across a range of invoices based on your user-defined criteria.

Customer can make the payment online with the customer portal and the same payment is adjusted automatically and knock off the invoices, you AR staff just has to approve the online batch and it’s done all the payment will be posted to AR system as well as to mail GL accounting.

The Accounts Receivable specialist enters:

  • Payment amounts received toward your Invoices
  • Their payment methods (e.g. check, wire,online)
  • Their check numbers
  • Which Bank Account gets the deposit (for the General Ledger)
  • Any credit due the customer to be applied to the Invoice total
  • Immediately adjusts the customer amount due and the AR Aging Report
  • Automatically records AR transactions in your General ledger, keeping balance
  • Records, for an Advance Payment (Deferred Revenue) transaction, the AR and payment transactions according to generally accepted accounting practices