Accounts Receivable

Aggressive cash management requires sophisticated Accounts Receivable capabilities. Vanguard’s Accounts Receivable (AR) system delivers the functionality you need. AR can automate much of the cash receipts and cash application process - either using our advanced online application workbench or our batch application process (designed to handle EDI and Lockbox cash application).

Establishing Customers is easy - including complex customer relationships like national accounts, pay-from and bill-to accounts, and ship-to destinations. Credit management tools are provided to track customer’s payment history and credit status - and to easily establish and maintain customer credit limits.

Customer statements and collection letters are available. Open item or balance forward statements will facilitate collection, and Customer Notes provide for in-house communication and history regarding specific accounts.

Key benefits of Accounts Receivable

• Fast and accurate cash processing and cash application
• Easy to administer credit management and control
• Flexible business rules by customer provide maximum Customer Service
• Reduce bad debt and improve collections

Key features of Accounts Receivable

• Online or batch cash application processing (EDI or Lockbox) - with autocash application
• Automatic cash discount calculation
• An adjustment can be entered during cash application write-off or bill-back with specific descriptions and customer bill-back document
• Create debit or credit memos per account - in cash application or from separate menu option
• Automatic creation of AR invoices from OSI Invoicing application
• Multi-currency AR - automatic gain/loss calculation and booking - earned and unearned
• Tracks allowed and unallowed discounts and deductions by reason code
• User-defined aging periods
• Supports partial payments, payments on account, and non-AR cash
• Customers may be national account, pay-from or bill-to Unlimited customer groups 
  for reporting and analysis
• Customer statements - optional finance charge calculation and application
• On-line inquiries of cash, customer accounts and payments, customer histories
• Customer notes - tickler file - for internal communication and recording conversations with the Customer
• Dunning notice - multiple letters with dunning levels
• Tax liability reporting by tax entity - includes capture of GST and VAT
• Future dated invoices
• Activate and inactive Customers
• Automatic discounts on invoices
• Detail or summary posting to the General Ledger