Switching over from your legacy or manual system to Profi’C is made easy with our Accounts Receivable Initialization feature. After entering your basic business information, post customer open invoices, credits and debits quickly through one screen in a few short steps, immediately creating an accounts receivable record. This easy posting method will allow you to go on-line fast.

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As you receive payment from your customers, you may start applying the money to the customer’s account. Profi’C gives you several options:

• Automatic Cash Application - the system automatically posts payment starting from the oldest invoice/debit memo, forward.
• Select to post payments by individual invoices or debit memos.
• Placing the money "On-Account" for future application while tracking the check number, date, and amount.
• Application of Credit Memo toward an open invoice.
• Application of Customer On-Account payment to specific invoices or all.
• Utilize Miscellaneous Deductions - deduct an amount due from an invoice with on-line update to General Ledger.
• Cash Application to proper bank account.

While applying cash receipts, Profi’C records this information so you will know exactly how much of the money will be deposited. In one session you may utilize all types of payment and then print the Daily Cash Receipts Journal which gives you a complete audit trail of all your cash transactions by bank, customer, and receipt type.

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An invoice may be completely paid or paid in part. The payment received may be split among invoices or placed on-account. Profi’C offers this versatile cash receipts application with a fail-safe distribution method that will not allow the customer’s record to be exited before all the money has been distributed. This assures a complete and accurate record of all receipts collected.

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A customer overpaying, pre-paying, buying on installment or applying a down-payment is never a problem with Profi’ C. No matter what form the payment takes, you will be able to place the money in the customer’s account for future use against an invoice or debit memo. When it is time to apply the "on-account" amount, it is treated as a normal cash receipt and may be used partially or in full against one or more invoice or debit memo. On-account amounts appear on the Daily Cash Deposit Journal and on the Daily Cash Receipts Report when it is first entered (not applied) and will also display on the Customer’s Master File and on the Customer’s Accounts Receivable Inquiry.

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Miscellaneous Cash Receipts enables cash application directly into the General Ledger - to specific General Ledger account(s), rather than to a particular invoice. This unique feature allows you to enter a cash receipt that is un-related to sales - such as a refund.

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From time to time every business finds it necessary to issue a Credit or Debit memo. Profi’C Accounts Receivable gives you complete control over this sensitive process, allowing you the option to update your inventory while adjusting your sales figures and, if you choose, automatically have credits and debits passed to the correct general ledger accounts. The Credit Collection Selector allows you to create Credit and Debit Memos, change a Customer/Order Credit Status, inquire or report on your Customer’s credit status, and create customer/prospect call notes. Creating a Credit Memo is an easy process you may create your own or using the relative invoice number the system creates the credit memo displaying the original invoice details to be credited. Credit Memos contain an option to assess a Re-stock Percentage charge which is deducted. Creating a debit memo assigns an invoice and an added amount to the customer record. You determine whether a credit or debit memo should be taxed at entry. Both Credits and Debits once created are on-line and available within the customers account for use.

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As important as the ability to handle a variety of payment types, is the ability to know immediately the exact status of a customer’s account. Through inquiries and reports, customer information like Accounts Receivable balance, on-account amounts, open invoices and amounts, open credit and debit memos, last paid date and average days to pay is instantly available. Such reports as the Accounts Receivable Payment History Inquiry and the Accounts Receivable Payment Inquiry by Check Number provide detailed payment history information.

Printing the aging reports (generated either by customer or salesman) will provide you with the status of each open account from current receivables through 150 days. This is the same information which will appear on the monthly statements you send to your customers. At your discretion, you may assess a service charge on overdue accounts. This amount will appear on the monthly statement. The percentage is maintained by you in the Company Master File. Preview Reports may be printed for each aspect of cash receipts to review transactions for potential change prior to printing journals which update to General Ledger.

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