What are Account Receivables in TapGoods PRO?
In TapGoods PRO, Accounts Receivables are Orders that AR-Toggled Companies paid for using Credit Terms, which means they are contracted for the Order but haven't paid for it yet. Account Receivables are essentially Invoices for Orders that are supposed to be paid for later.
The Accounts Receivables mean that the Company still owes money to your business. Accounts Receivables can be added to Statements, which are bills that you send to the Company’s Statement Contact.
To view an AR-Toggled Company’s Accounts Receivables, you must navigate to the Accounts Receivables page of TapGoods PRO and click on the AR-Company from that page.
Clicking on a Company from the Accounts Receivable page takes you to the company’s Credit Terms page. Here, you can click on the Accounts Receivables tab to view a list of the Accounts Receivables (also known as Invoices) generated for the Company.
On the Accounts Receivables tabs, you use the dropdown arrow on the top right-hand side of the table to view all Unpaid Invoices or All Invoices.
For each Accounts Receivable (Invoice), the following columns are available for review:
- Invoice Date: The date that the revenue on the order is recognized according to your Financial Settings.
- Rental Total: The total amount for the rental including taxes and fees.
- Rental Tax: The total amount paid for taxes on the rental.
- Credit Term Total: The total amount paid on the order using Credit Terms.
- Paid Credit Term: The total amount that the Company has paid on the invoice.
- Credit Term Balance: The total amount that the Company still owes to your business.
- Due Date: The date that the money is due according to the Payment Terms. (Example: A company with a payment term of Net 60 will set the due date of invoices 60 days after the revenue is recognized.)
- Aging: How old the invoice is.
Related Articles