Accounts Receivable

Freight bills (including COD billing) from Customer Service and Quick Bill Entry are posted into the Accounts Receivable module by Billing Register.

Bills appear in AR Inquiry under the customer account they were billed to. Use this program to manage customer account information, to make account adjustments, to generate statements, and to print reports such as aging lists, billing summaries and statements of account.

AR Adjustments creates credit or debit memos against freight bills.

AR Adjustment Register is then used to post your adjustments to the general ledger and customer accounts in AR Inquiry.

AR Cash Receipts records payments from customers against their bills, and in cases where payments cannot be matched to billing, to record credits against the account. Any cash received for non-billing can also be entered here in the Miscellaneous Cash Receipts area.

The cash receipts are next processed through AR Cash Receipts Register to post into the general ledger and customer accounts in AR Inquiry.

When accounts are overdue, the credit settings in Customer & Vendor Profiles are used by AR Finance Charges to calculate interest owing.

To use AR applications, you must review and configure settings in the applications listed below. These settings apply to all AR applications. Settings that apply to individual AR applications are described in the online help topics that are specific to the application.

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Understanding and Controlling your Organization’s Cash Flow is paramount to running your company with confidence. The data stored within your company’s corporate database can unlock trends, assisting you in measuring, and finally, managing your cash flow.

Assuming your Company’s 'Average Days to Pay' calculation is at 45 days, and your Receivables are at $1,000,000, reducing the 'Days to Pay' down for even ONE DAY would see you permanently receiving an additional $22,222 in your Bank Account. For many Companies, a Receivable total of $5,000,000 and a reduction in 'Days to Pay' of 5 days are not unrealistic. In this case you would benefit from a permanent increase of $555,555 in your Bank Account. Who couldn’t use an extra half a million dollars in today’s challenging business climate?

Managing receivables on a traditional 30, 60, 90 day basis is fine, but it does not provide the granular detail that is required to limit your bad accounts, bad debts, and credit and rebills by Customer.

Your TruckMate systems have been collecting valuable information that can be used to assist you in the manage of your Cash Flows. TruckMate can determine every individual Customer’s unique payment methods and timing, and as such, project when future payments will be coming through the door. We can also determine which receivables 'should' have come in last week, and provide concise lists of Clients and Invoices to follow up on. This makes more effective use of your Credit and Collections department time.

The key to TruckMate Cash Flow is the dynamic nature of the module. As every check is entered into TruckMate, each Customer’s payment trends are recalculated- thus affecting every subsequent outgoing Invoice projected date to receive. Combined with the strong Collections module already in place, we can accurately predict which invoice payments will be received on each day. Total these up for the week, and we have an accurate projection of incoming cash. Equally important are the Crystal Reports provided with this Module, which tell you what did NOT go as per plan, allowing you to quickly follow-up with your Customer.

TruckMate Cash Flow Management provides a series of Procedures and Reports, which will assist you in gaining control over your Accounts Receivable. You will be able to;

Note: For more information on the specific Tables, Triggers and Procedures in your TruckMate database related to the Cash Management Module, click here. For more information on the Crystal Reports added to your TruckMate database by the Cash Management Module, click here.