CLASS Accounts Receivable

One of any firm's most important current assets is its Accounts Receivable. To protect this asset, it is critical that management have at its disposal a system that maintains accurate and timely information.

CLASS Accounts Receivable offers the power and flexibility needed for the day-to-day control of your receivables. Our comprehensive reporting provides excellent accounting control, as well as cash, credit and trend information, which facilitates effective management of your Accounts Receivable.

Features

• Allows the user to set up open-item and balance forward accounts in one database, providing maximum flexibility in customer account set-ups.
• Access accounts through customer names or parts thereof as well as by customer number, enabling both clerical and management personnel to enquire with speed and ease.
• Flexible account numbering format for easy referencing; customer numbers can be immediately identified to a customer name by the numbering structure.
• Enquire into invoice details from the invoice number alone, without knowing the applicable account number. This ability saves time when enquiring into the system and is especially useful when a customer is waiting for an immediate response.
• Multiple terms within one account, i.e. Varying due dates, periods and discount percentages. You are not restricted to one set of guidelines for your invoice terms.
• Input real time on-line data or on-line data with batch update. There are two methods to input data; (1) by "Transaction Entry" which immediately updates your account balances or, (2) by "Worksheet Entry" updating the files in batch mode, providing for a tighter control over your data input.
• On-line entry provides immediate access to the accounts master file to ensure accuracy and check validity at time of entry.
• Worksheet concept introduces consolidated entries; reducing keying time, providing for easy access and consuming minimal storage. Account numbers are immediately crosschecked to the Chart of Accounts to ensure accuracy.
• Balancing of group transactions. As you post a batch of transactions, the system compares the actual total with a manual total entered prior to posting. If there is a balancing discrepancy after the batch has been posted, the user can list all transactions in the batch in order to find the error.
• Runs as an independent module or can be integrated with Class General Ledger. Integration reduces duplication in posting, promoting accuracy, and ensuring utmost in confidentiality.
• Stringent security measures. Only authorized personnel can access the system, and then, only after passing two security checks. You may also restrict functions by keyboard access. The system displays only those menu functions to which the user is authorized admittance.
• Detailed audit trails record all modifications to an account, along with the time, date and author of each change; ensuring maximum surveillance over your account data.
• System documentation provides complete, comprehensive step-by-step guidance to make the learning process as easy as possible.
• Operates independently of volume. The Accounts Receivable System will never impede your growth. As your requirements increase, the system will continue to provide you with the total control you require over your customer information.
• Maintaining complete detail on file. You have the ability to selectively extract information at any time for management use and decision making.
• Information management approach that places programming and selection commands into the hands of the user.
• Automatically process repetitive or contract billings, such as rentals, or leases. Simply state an interval for the billing and the system will generate on a regular basis the charge to the customer's account. The system also handles "Country Club Billings" or preset minimum amounts to be billed to a client at regular intervals. This function will save a great deal of time in posting.
• Bulk payment feature applies a single payment to multiple invoices specified by invoice number or date sequence. Simplifies the posting of large cash transactions covering groups of invoices.
• Customer defined credit terms. Generation and recording of service charges for each customer in accordance with a user defined terms code table having up to 255 unique credit terms.
• Ability to display or print all transactions for audit trails to ensure maximum surveillance over your data and provide a thorough audit trail.
• Definable period end dates enables you to control the number of periods and the number of days in each period for aging. You may choose to select the number of days to agree with the length of your accounting periods.
• Grace day's calculation determines if a late payment will receive a discount. This automatic feature saves time in manually checking for allowable grace days.
• Choice of alphanumeric or numeric accounts type to accommodate any customer Chart of Accounts.
• User definable Billing Cycles permit your Accounts Receivable Department to classify each customer into a logical cycle and run the statements for the cycle when required.

Summary

The CLASS Accounts Receivable system enables management to control a large volume of accounts and related detail. It provides the necessary information to forecast and manage incoming cash effectively. It also provides accurate and detailed account data, allowing you to monitor customer status and information.

We would like to analyze your specifications, work with you and show you the right solution to your accounts receivable management requirements.

CLASS Accounts Payable | CLASS Financials Summary | CLASS General Ledger