Knowledge Base

3. Accounts Receivable

This module facilitates the creation of debtor accounts (other than students) and the recording of transactions such as invoices, credit notes, journals, and the generation of statements. It is used for the invoicing of sundry services to outsiders and to keep record of student – and personnel loans.

Transactions can then be entered, and the system caters for:

• Invoices, credit notes, repeating invoices, inter-creditor corrections and journals
• Invoice/credit note transaction can be processed on a line item basis and the invoice or credit note can be printed from the system
• Invoices, credit notes, etc. can be allocated to multiple GLA’s if desired
• The VAT transactions are generated automatically
• Interest can be calculated on a user’s specified criteria and the interest transactions will automatically be inserted.  A rollback facility is available.
• The system allows for open item matching. This means that the user can allocate credits to specific debit transactions. The result would be to provide a debtor with a statement that will show not just a statement of transactions, but a list of outstanding debits/invoices.