Flexible reporting, in-depth audit trails, subsidiary Accounts Receivable Trade Accounts, immediate on-line transaction application and multi-level inquiry capability of your customer base are just a few of the basic functions built into the Accounts Receivable module. This module manages the invoicing and cash receipts arising from business activity. The capabilities of the AR module include invoice and statement printing, aged trial balance, credit/collection letters, cash receipts posting, multi-subsidiary trade accounts, a cash position statement, and customer, transaction type and transaction code analysis. Record all financial activity of your customers and produce free-form statements based upon user-defined cycles, customer type codes or selected groups of customers. Aged Trial Balances keep you informed of outstanding aged balances – current and past due. On-demand customer analysis capability gives you the power to instantly access billing history in summary and detail format.
ObviO Accounts receivables allows users to create and print invoices in standard government specified formats including SF1034, SF1035, and DD250 formats, complete with current and cumulative hours and amounts at every level of the project WBS. No manual processing is required. Standard AIA invoices G702 and G703 can be created using either actual costs or percentage complete. Unit price invoices are used by any contractor that bills by the unit. Units billed are integrated with the job costing to ensure up to the minute tracking of your bid items. Tailor the invoice from options that enable you to print vendor names, hours by worker class, activity, or employee, material description and quantity, and equipment usage.
The accounts receivable module Includes and processes Cost Plus, Fixed Price, Time &Materials, Fixed Priced, Fixed Priced with Phases, and all the billing of all other government and construction contract types. Users can also bill commercial contracts with ease, and have the ability to track, compute, and report unbilled receivables. The integrated flexible billing support offers detailed contract billing information with the ability to print detailed billing edit reports and customized backup billing documentation per your customer requirements.
Combined with the detailed contract value and funded value tracking provided in the Project Management Module, invoices are tracked against contract values, funded values, CLINs, ACRNs, and any other discreet values required. Business rules can be set up to alert and/or limit invoicing in excess of the discreet values specified. Billing edit reports alert users if time or expenses have been entered that fall outside of the period of performance and give them the ability to place records on “hold” that are not ready to be billed.
Following are some additional outstanding features of the GAAP Accounts Receivable module:
- Built-in invoice templates or custom designed invoices, including a database interface to Microsoft Word documents and Crystal Reports for invoice production.
- A/R payment-on-account application.
- Accepts partial payment of invoices; cash receipts may be applied to multiple invoices and additionally post amounts to the general ledger (over/short, etc), put amounts on-account and even issue immediate refunds of overpayments.
- May post manual invoices and debit/credit memos to adjust any invoice balance.
- Customer Open Invoice Listings.
- Automatic Finance Charge calculation rate may be individually assigned by customer.
- Aged Trial Balances and Statement Printing for current as well as prior periods on an open-item or balance forward basis, with thirty-day or monthly aging cycles.
- Transaction Codes may be pre-defined with default G/L debit/credit accounts and/or fixed transaction amounts in order to cut down on posting time.
- Instant Customer balance audit trails in summary by accounting period or in detail for any range of dates with selection criteria by customer, company, and subsidiary A/R Trade account provide timely audit and reconciliation reports.
- Zero-balance invoice removal process before or after statement printing.
- Automatic interface to the General Ledger, Sales Order Processing, and Job Cost modules of ObviO EMS.
- Multi-company and multi-subsidiary accounting simultaneously on the same customer base.
- Instant look-up of customer information by either name or number or user-specified indexes.
- Cash receipts posting allows the option of automatic payment distribution starting with the “oldest” invoice, presentation mode displaying invoices which have unpaid balances and manual mode whereby credits are directed to specific invoices by the user.
- Retention Tracking
- Unlimited Customer History
- Flexible Finance Charges