About Accounts Receivable Configuration

Prerequisites for Accounts Receivable Configuration

The Accounts Receivable module enables you to manage debtors’ accounts, invoices, and remittance. AR also supports management of payment collection through the production of periodic statements and reminder letters.

You can also manage and track remittance from credit card merchants accounts receivables, with specific functionality available to compress individual credit card settlements into a single invoice. The single invoice is automatically transferred to the debtor ledger account for the payment type during the End of Day.

You can activate optional functionality for the Accounts Receivable module in OPERA Controls.

Financial Charges	Enables the ability to post a calculated percentage or fixed amount charge on a monthly cycle – typically used for charging overdue payment fees.
Fixed Charges	Enables the ability to auto-post a periodic charge to an AR Account based on defined cycle – daily, weekly, monthly.
Traces	Enables the ability to add an actionable date-driven reminder on AR accounts.

The following configuration is required in order to use the Accounts Receivable module:

OPERA Controls — Accounts Receivables
AR Statement templates.
Reminder Letter templates.
AR Account Types.
- Financial Charges
- Reminder Letter Cycles
Restriction Reasons.