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???