Accounts Receivable overview

Use the Accounts Receivable application to manage a full Accounts Receivable cycle, including customers, receivables transactions, and generating reports. Use Accounts Receivable to create and send invoices, receive and apply regular and advance payments, apply penalties and adjust accounts, make deposits, and deliver statements. Managers get up-to-the-minute reports.

Setup

Before you first use Accounts Receivable, you or your system administrator must subscribe to and configure this application for your company.

  • Select the features that you want to appear in the Accounts Receivable menus and pages.
  • Assign permissions to users or roles who need to access those features.

For step-by-step instructions on how to configure Accounts Receivable for your company, go to Configure Accounts Receivable.

Manage customers and invoices

Manage customers and customer invoices easily in Accounts Receivable.

  • Invoice customers on a recurring basis.
  • Print or email customer invoices and statements with custom templates.
  • Assign territories to track and categorize sales.
  • Import lists of customers, invoices, and adjustments from spreadsheet files.

Process transactions

  • Set penalties for past due accounts.
  • Receive payments by check, cash, credit card, or funds transfer.
  • Receive advance payments anytime and apply them when an invoice is created.
  • Make deposits as you normally do.
    • Details: As you receive payments, you might accumulate them for later deposit. You can place the funds into an undeposited funds account until you make the deposit. Alternatively, you can make a manual deposit that's attributed to the customer account but not to a specific invoice. You can also receive non-invoiced payments, such as counter sales, that are not attributed to customers that you track.
  • Create custom terms in addition to the default Accounts Receivable terms and aging periods.
  • Use manual check entry to write invoices manually, a quick way to enter several invoices per page. You cannot delete nor edit invoices after they’re paid, which allows for a high degree of accounting control.
  • Retain transaction detail forever, providing quick access customer history. And you can close Accounts Receivable but keep the GL open.

Run reports

  • Create and print reports.

    • Generate a variety of easily customizable aging and receivables reports and graphs. Reports include the customer list, AR ledger, customer aging reports and graphs, and the sales register. You can analyze sales by many criteria, including by territory. Intacct also supplies report data that you can use to calculate commissions.
  • Accounts Receivable comes with several standard reports that you can run immediately. See the summary of standard Accounts Receivable reports for details.

Related applications

Accounts Receivable integrates with our online accounting system's other financial applications for real-time posting of all transactions on a cash or accrual basis. Accounts Receivable synchronizes seamlessly with Order Entry to provide sales staff with sales tools, such as quotes, sales orders, and sales invoices. Order Entry transactions post automatically to both AR and the GL. Additionally, your external applications can be integrated via our XML gateway.