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21st Century Accounting Help - Receivables


  • Balance Forward or Open Item Accounts.  Balance forward customer transactions appear on the first statement in detail, with the payment due.  Aging receivables deletes detail and brings forward the balance due.  Each open item customer invoice is kept open until payment is completed against the invoice.

  • Revolving, Fixed Payment, or Regular Accounts.  You can set up balance forward customers under a variety of payment arrangements.
  • Process by Billing Cycle.  Use the Billing Cycle Checklist to apply finance and auto charges, age, and print statements—a convenience for processing customers once (and only once) per cycle.
  • Multiple Control Account Sets.  Define any number of control accounts sets if you need different receivables, discounts, cash, and finance charges control accounts for different types of customers.
  • Customer Categories.  Sort customers on reports by up to three categories that you define.
  • Discounts.  You can give purchase or early/prompt payment discounts.
  • Flexible Sales Taxes.  Sales taxes, consisting of up to five tax authorities, can be applied to entire invoices or item-by-item.
  • Finance Charges.  You can configure finance charges appropriate for each type of payment arrangement.
  • Billing Cycles.  You can print invoices, statements, and reports for customers grouped by billing cycle.
  • Recurring Batches.  Set up, save, and post batches of regular periodic charges to customers, such as standing orders.  Performing this function creates a batch of regular posted invoices, which you can print and send to customers if necessary. 
  • Recurring (Automatic) Charges.  Set up regular recurring charges and assign them to customers, for applying automatically.  Performing this function does not create printable invoices.  The charges appear on the customer statement.
  • Account Prompts.  Assign default general ledger accounts to appear during data entry.
  • User-Formatted Numbers.  You can set up formats for transaction numbers (IDs) throughout 21st Century Accounting, using (if you wish) substitution string tools that automatically generate numbers, dates, or posting periods as part of the number.


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