Accounts Receivable

Advanced Customer Account Statement Features

One of the most popular features of the Accounts Receivable application is the ablity to generate full-color, fully-collated copies of customer invoices, complete with customer signatures, at the same time customer account statements are printed.  This is a huge time-saver and eliminates the need to maintain "file-copies" of customer invoices.  Most dealerships still go through the tedious process of sorting invoice copies to include in the monthly statement run. With HBS, those days are over. Much like you bank probably does today with images of your cleared checks, the Accounts Receivable application prints between one and eight invoices per 8-1/2" x 11" page. To process the statement, simply put it and the the page containing the collated invoice images in an envelope and and drop it in the mail. No more sorting, storing or processing copies of invoices ever again!  See the sample reports section below for samples of this innovative feature.

Auto-Allocation of Customer Payments

 Have you ever struggled with applying payments or posting credits to a customer’s open account balance?  The Cash Applications feature within the Accounts Receivable module makes this task fast and easy.  Here’s how it works.  When a payment is presented, the system will display all open invoices and finance charges for the customer. Simply type in the amount of the payment and you will have complete control over how to allocate the payment to the open account balance.  Selecting "A" for Auto-Allocation wili take the payment and automatically apply it to each selected invoice and then to the remaining invoices until all invoices are paid or until all funds have been applied.  Selecting “F” for Full, applies the funds to a specific invoice or invoices.  Selecting “P” for Partial will allow you to specify how much of the available funds to apply to the selected invoice or invoices.  Selecting “W” for Write-off, allows you specify a write-off amount and input the GL account to charge it to. This can be very handy for waiving finance charges or writing-off uncollectible invoices. See the Sample Screen section below for a view of this powerful feature. 

Accounts Receivable Aging Reports

One of the best ways to manage outstanding balances due on customer accounts is to utitlize the Accounts Receivable Aging Report.  It provides a complete detail of the customer balances due.  Choose from  

Attach Photos, Videos, Invoices, Diagrams, or Handwritten Notes to Customers and Accounts Receivable

HBS eDocs allows reference material to be attached at the Customer and/or the Accounts Receivable account level. These can be copies of handwritten notes, procedural checklists, dealership or department policies, collection notes, copies of payments or checks, or any other file you want to make available to system users. Use this powerful feature to share information that will make your entire accounting staff more productive.