Introduction to Accounts Receivable

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The system tracks Accounts Receivable (pre-appointment) and Accounts Receivable (post-appointment) separately.

Introduction to Accounts Receivable

Like the opening balances of bank accounts, Accounts Receivable (pre-appointment) are entered as assets due to the requirement to track a statement of affairs vale, ERV and Amount Realised.  Accordingly, there is an asset capture window designed for Accounts Receivable (pre-appointment).   As you will see, pre-appointment debtors are collected in the same way as normal or post-appointment debtors.

Importing is by far the easiest way to enter pre-appointment debtors.  We have previously imported pre-appointment debtors.

On the other hand, you enter post-appointment debtors much like the entry of an invoice in any contemporary accounting system.


Entering Invoices (post-appointment)
This section details how to enter a new post-appointment debtor.
Receiving payments on account
This section explains how to receive a payment on account of a post-appointment book debt.  You should note that the system doesn’t distinguish between pre- or post-appointment debtors when processing payment receipts.
Receiving payments - batches
Receipts may be allocated to batches which then follow an approval workflow.  Batches may be commenced from Purchase Orders, or from Accounts Payable listing.