Enables efficient tracking of receivables to identify potential problems in advance. Features include account inquiry, payments, aged statements, statements, batch handling, flexible invoice printing, recurring receivables, sales tracking, flexible terms definition and robust reporting. A customer information screen maintains defaults such as taxing jurisdictions, multiple addresses, finance charge groups, financial history and contact information.
Every business person would agree that effective management of receivables is vital to the successful operation of any business. Topaz Account Receivables’ powerful and comprehensive Accounts Receivable module provides you with the information necessary to accurately monitor accounts and maintain steady cash flow. Topaz Accounts Receivable systems stimulate prompt customer payments by preparing accurate and timely invoices and monthly statements to credit customers. This helps maximize profitable credit sales while minimizing losses from bad debts.
Opening Balance
Information on customers Opening balances can be captured by topaz account receivable. Information such as customer, date, amount, currency, rate, liability G/L. etc. are captured as part of the opening balance.
Major Features & Functionality
- Track invoices the minute they arrive with a pending invoice system.
- Approve invoices electronically.
- Add up to 250 custom fields to vendors, invoices, and other records to track additional information.
- Use a single vendor list for multiple companies.
- Customize the distribution grid.
- Associate invoice distributions with draws (pay when paid).
- Allocate invoices by predefined percentages.
- Make reports using historical data
Major Benefits
- Accounts Receivable gives you tools to stay in touch with clients and on top of receivables to proactively manage your cash position.
- Built using Microsoft Dot Net Framework.
- Microsoft-based Technology utilizing Office and SQL Server
- Integrates with existing business information systems
- Utilizes technically superior product architecture and state of the art technologies.
- Customization and implementation of solutions by value added re-sellers.
- Generate complete audit trails.
Customer Information
Account customers may be accessed by any of three different lookup methods: Customer data, name (any portion, e.g. first, last, middle) or telephone number. In addition to the usual customer identification information, space is provided in the customer maintenance area for a user defined customer group, contact name, up to six telephone and fax numbers, terms information, high balance, tax numbers, flags for statement generation, finance charge calculation, date account opened, date of last purchase and date of last payment, e.t.c. Credit limits can also be set for customers, which will ensure that new invoices are not processed when such credits limits are exceeded.
Invoices
Topaz Accounts Receivable can be used to create invoices for customers for goods and services offered by an organization. Invoices can be created in local or foreign currency. Details of the invoice such as reference number, description, account number to credited or debited and the amount of the invoice can all be captured. During invoice creation there’s facility for giving a discount on the invoice amount. Discounts can be given as a percentage of the invoice amount or as a fixed invoice amount. In addition VAT and NHIL can be calculated and added to each invoice amount.
FEATURES OF TOPAZ ACCOUNTS RECEIVABLE
FAST AND EASY ACCOUNT ENQUIRY
The powerful Accounts Receivable inquiry mode is accessed directly from the terminal, making it easy to answer customer telephone inquiries. Inquiries may include invoice by date, invoice by customer/dates, payments, unpaid invoices, receipt forecast, aging and customers. If desired, invoice details can also be displayed. Account inquiry may be quickly accessed by customer name, date of payment, invoice type, currency, e.t.c. Reprinting of specific invoices is extremely simple.
PAYMENTS
Cash received may be distributed to outstanding invoices during cash receipts entry. Once the customer number and document number are entered for an open-item customer, a list of this customer’s invoices will appear. If invoice numbers are not known, payments can simply be applied to the account. The system will internally apply the payment to the oldest invoices to accommodate aging on inquiries and statements.
STATEMENTS
Topaz Accounts Receivable module produces statements for customers. Statements are “date sensitive”, allowing you to continue processing the next month’s transactions even though you have not completed the month. Statement selection is extremely versatile. Statements can be printed by customer account number or customer account number ranges. Options exist to suppress printing zero balance statements, print only accounts with current activity, or print only delinquent accounts.
USER FRIENDLY
The button-driven menu system, pull down menus and scrolling lists for selection and look-up make the system easy to use and easy to learn. There is open access to data, capability to export data to spreadsheets, word processors and other packages. The data entry sections where possible, use combo boxes to allow for selection rather than entry of data. This increases data entry speed, reduces data entry errors and facilitates querying of the database and reporting. The inquiry section allows sorting of information by different Parameters (fields) with a lot of ease.
AGING REPORT
The Aging report module is very flexible. It allows you to tailor reports to the specific requirements of the firm, so that they are meaningful to the particular business situation. Several reports option are available including: detail (includes each invoice amount); summary (includes aged totals for each customer); delinquent accounts only or an aged grand total of all outstanding amounts. Sales analysis information can be derived directly from the Accounts Receivable module, showing profitability of each customer or each salesperson on a per-month or a year-to-date basis.
TRACKING SALES
The Accounts Receivable module allows for the interactive entry of sales, credit memos and finance charges. VAT and NHIL taxes can be automatically calculated by the system, with a provision for user override. Sales revenue may be distributed to many different general ledger accounts. Capabilities exist for editing and reporting, a sales journal and posting to the G/L are provided with a full paper audit trail.
SECURITY
Topaz Account Receivables’ custom menu design allows you to control which menu options are available to each staff member. This allows you to restrict access to any or all of the Accounts Receivable programs. For example, you can prevent access to A/R completely for the Accounts Payable clerk.
ACCOUNTS “ON HOLD”
The Topaz Account Receivable module calculates account aging and credit limits when entering new sales. Sales clerks are notified immediately if a customer’s account is overdue or over their credit limit. New orders can not be created under this condition unless approved by someone with the authorization to override the “on-hold” status.
REPORTS
Topaz account Receivable allows users to generate several different reports: Examples of reports generated by Topaz AR are; Statement, Aging Reports, Customer List, Pay History Report, Invoices, Customer Balance, Best Customer, G/L Balance.