The SAP system’s accounts receivable module allows commonwealth agencies the ability to manage accounts receivable efficiently and effectively by establishing customer accounts, generating invoices for those customers, producing dunning letters at predetermined intervals, and providing an array of reports to manage accounts receivable.
Each accounts receivable customer is assigned a unique customer number that is used to process and track all activity on a customer’s account, while a unique job number, identifying the good, service, or benefit provided, easily segregates and tracks specific service related billings. SAP customer account reports offer distinct visibility through the use of color coded indicators of open, outstanding invoices versus those that have been cleared or paid, as well as real-time net balances.
The SAP accounts receivable module allows complete processing, tracking and reporting of:
- Open invoices and credit memos as well as outstanding and customer balances
- Cleared or paid invoices
- Billing and payment dates
- Age of delinquent accounts
- Automated dunning
- Late payment tracking
- Underpayments or overpayments
- Referrals and write-offs