Managing outstanding invoices, receivables and ageing
The AR (Accounts receivables) functionality embedded in *evolution, allows you to introduce efficient tracking and managing procedure for collection of outstanding invoices.
To activate the AR functionality, you need to configure the payment types that will be collected after issuing the invoice, i.e. non-cash payment types.
Once this has been are done, all issued invoices associated with non-cash payment types will enter the AR journal automatically with their full details, amounts for collection, date of issuing.
You can match all incoming payments to invoices pending for collection, to assign payments to cover partially a document, or split a payment between several documents.
The AR functionality supports multi-currency settling, meaning that you will be able to track and manage documents and payments issued in different currencies.
The related reports present information about the ageing of receivables summarized by clients or in detail by invoices. You can check the receivables' ageing of clients for a past period. A detailed balance report provides information about the dynamics of receivables and payments and their matching to a desired client and a period of time, enabling you to pro-actively manage the collection process.
