Accounts Receivable
WoodStock© will assist you in managing cash flow through improved credit and collections control; With the open-item system you may track each customer’s invoice until paid. Separate sub-accounts may be maintained for contractor jobs and service (financing) charges can be automatically applied to past due accounts. Additionally, customer statements may be printed on demand, and selective aging reports produced, based on criteria you define.
Highlights
- Payment can be applied as desired to outstanding invoice balances saving time when analyzing accounts.
- Optional user-defined dunning message will print based upon the age of unpaid notices.
- Each invoice tracked until paid, by "home" location and by "selling" location.
- Supports contractor sub-account job processing.
- Service charges automatically applied by customer and sub-account for the customers you select.
- Statements printed at the end-of-the-month and on demand for the customers you select.
- Dunning statements printed on demand.
- Selective aging reports based on user-defined aging criteria.
- Transactions automatically interfaced into the General Ledger System.
- On-line selective inquiry and aging based on user-defined criteria such as customer name or account number, sub-account, salesperson, invoice date, or invoice number, displaying up-to-the-minute accounts receivable status as well as currently available credit and up to 12 months aging/payment history.
- Sales tax reporting on cash or accrual basis.
- Ability to reclassify an invoice as in dispute, notes receivable, in suspense or written off with the appropriate entries automatically interfaced to the General Ledger System.
- Automatic daily audit, balancing the Accounts Receivable System to the General Ledger system by location (i.e. which branch, warehouse, store or yard) and by classification.
- On-line full screen cash receipts for processing, and easy application of payments.
- A/R cycle billing and history which spreads the billing process through the month, reducing the typical end of month work load.
- Lien processing, tracking and reporting by job location, including pre-lien notices, lien notices, and lien waiver notices for reduction of bad debt.
- Computer generated lien wavers.
- Ownership information request forms
- Customer inquiry showing aging of customer account for collection control, summary statement by sub-account, sub-accounts identified within primary account, and year-to- date sales to assist in collection decisions. "dollars on order" and last and next contact dates are tracked as well.