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The TransActPOS Accounts Receivable module, an accrued-based accounting system, maintains customer information, account balances, contacts, pricing, customer jobs, notes, reports, and many other features. Posting payments, application of credits, payment and credit reversals, and posting finance charges are transactions made within this module.
The Accounts Receivable module maintains all aspects of the customer to include the following:
Customer information is entered and maintained within the Customer File. Adding customers has never been easier with the Customer Add Wizard's inclusion, a tool that takes the user through a step-by-step process for entering customer information.
- Authorized Purchasers with detailed information and the purchaser's picture
- Contract Pricing for specific items
- Product Code Based Group Matrix Pricing
- Multiple customer discount methods are available
- Job Management with taxation and contact integration
- Multiple email recipients with job-based invoices
- Quotes and Sales Orders
- Invoices with electronic signatures included within monthly customer statements
- Customer Statements in multiple formats: Open Invoice, Balance Forward, and others
- Full suite of account receivable reports with the ability to automatically email reports within the scheduler
The payment posting process can be modified within the Company Setup to address several common requests. Does the point-of-sale workstation allow the posting of a payment as a credit? Should the user be allowed to distribute the payment to the applicable invoices?
Stored Credit Cards
TransActPOS, in conjunction with Verifone Connect, stores the customer credit card information in a PCI-compliant manner for future payment processing for select accounts receivable customers. These select customer accounts are processed periodically to securely post the current customer payment utilizing their credit card information.
If payment is posted either to the incorrect customer or distributed incorrectly, the user can quickly reverse a payment if they have the correct security access. A complete audit trail is generated during this process.
This feature allows the user to apply any outstanding customer credits to open invoices, thus reducing the balance of the invoice and diminishing the value of the credit.
This feature provides a step-by-step process to reverse an incorrect credit application if the user has the appropriate security.
This menu option generates finance charges for customer charge accounts based on set parameters. The user enters the desired settings and then clicks the Generate button to create the customer's finance charge.
By design, TransActPOS does not require an end-of-month or end-of-year closing process. Likewise, the standard daily processing of transactions is not dependent upon printing customer statements at a specific time.
The system creates an open-invoice or balance-forward statement with a detailed invoice summary report requested by the customer. The invoice detail report does include the customer signature, purchaser name, purchase order, job name, and item detail.
The TransActPOS Email module automatically emails or prints statements based upon the customer's statement type and delivery method.
The Use Job option can provide an additional level of service for your customer. During the Point-of-Sale, Quote/Sales Orders, Service Ticket, and Rental processes, the user may select the appropriate job or add jobs on the fly to accommodate the customer's requirements.
A variety of job processes assist in the internal management of jobs by the store:
- Customer Statements with invoice detail pages organized by Job Name
- Posting of payments and credits filtered to a specific Job
- Job Summary Report presents the total price and quantities of purchases
- Reassignment of job names to assigned invoices at any time
- Jobs with specific taxation, available credit, and specific email recipient awareness
- Blanket purchase orders with credit limits by job
Some customers frequent your store multiple times a day, creating several small invoices. The customer's accounts payable department does not want to post every invoice containing the small purchases. The TransActPOS Tab Invoice feature resolves this issue. The customer's account may be configured to accumulate these small invoices during the ordinary course of business and then consolidate the selected invoices into a single invoice. The Tab Invoice feature does allow the user to select invoices based upon their assigned jobs.
This module also includes electronic signature capabilities via Topaz and Verifone devices and integration into the Equipment Rental and Service Ticket modules. Accounts Receivable also supports a host of transactions: posting of payments, applying credits, payment and credit reversals, and posting finance charges.