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Optimize your cash flow position by accelerating accounts receivable processes and tracking customer payment activities.
With detailed customer records, you can specify payment terms, including sales discounts that are applied to customer orders as they are created.
Benefits:
- Increase sales process efficiencies. Track invoices, process receipts and partial payments, and automate document approval processes, adjustment processes, and installment payments.
- Build better customer relationships. Create customized statements, extend customer credit, and provide targeted discounts to preferred customers—all based on built-in business intelligence.
- Reduce your backlog of receivables. Highlight problem areas and priority accounts to improve your organization’s cash flow.
- Enhance business productivity. Boost efficiency with an easy-touse, graphical interface that helps your finance professionals more quickly access the account information each needs most to efficiently complete common tasks.
- Get business insight to enhance sales. Employ customer account and sales performance tracking to help identify trends, plan sales strategies, and manage accounts more effectively.
Credit and collection activities don’t have to be difficult or labor intensive. With Receivables in Microsoft Dynamics™ NAV, you can tightly manage customer accounts with credit limits and review dates, define collections criteria and payment terms on a customer-by-customer basis, initiate and track prepayments, and match receipts to invoices automatically to eliminate errors and improve processing consistency.
Features:
- Flexible receivables processing. Choose how to apply customer payments to invoices. For example, use the apply-to-oldest method or apply partial payments toward multiple invoices. Customize and automate customer statements and installment payments. Create schedules that calculate interest, amortize amounts, and generate reminders for customers with overdue balances. Define an unlimited number of finance charge terms, including interest rates, grace periods, minimum amounts, and currency, and generate finance charge memos manually or automatically based on preset due dates. View detailed information about receivables prior to general ledger posting and easily reverse any inaccurate postings with a complete, accurate audit trail.
- Prepayment capabilities. Create and track a prepayment invoice on a sales order until the order is fully invoiced to significantly reduce manual updates.
- Standard sales. Automate standard or repetitive sales by setting up sales document lines and discounts that you can automatically insert into new orders and invoices.
- Sales invoice discounts. Define a variety of discount terms, including discounts based on a percentage of the overall sale, and automatically apply them to individual order lines. Set up sales order discounts in local and foreign currencies.
- Customer account management. Establish an account card for each of your customers that specifies payment terms such as currency, tax information, and payment due dates. Get in-depth information about a customer’s sales history, available credit, and shipping or billing address.
- Payment and discount tolerances. Establish a tolerance level that enables you to fully close an invoice and payment entries, even when the bill is not paid in full. Set a payment discount tolerance to accept discounted payments after the terms of the discount have expired.
- International sales processing. Conduct business internationally with ease. Define an unlimited number of currencies to determine how foreign currency amounts are rounded and posted, and then manage entire accounts in the appropriate currency. Track the viability of your business through automatic calculations of exchange rate gains and losses.
- Custom VAT and sales tax calculations. Use posting groups to automatically calculate value-added tax (VAT) details and sales tax for each of your customers so you can easily report this information to the relevant authorities.
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