Accounts receivable AR type, credit limit, interest rate, fees and statements can all be set up by default.
Click the Menu icon at the top of the screen
2. Click Accounts Receivable. Click Settings
3. Select AR Type by clicking the AR Type drop down
AR Types Include:
Due Now - Payment is due immediately
Net 10 - The customer is expected to pay the invoice within 10 days from the invoice date
Net 20 - The customer is expected to pay the invoice within 20 days from the invoice date
Net 30 - The customer is expected to pay the invoice within 30 days from the invoice date
Net 45 - The customer is expected to pay the invoice within 30 days from the invoice date
Net 90 - The customer is expected to pay the invoice within 90 days from the invoice date
10 Net 30 - The customer is given a 10% discount if the invoice is paid within 30 days from the invoice date
4. Enter a credit limit in the Credit Limit field
5. Enter an interest rate in the Interest Rate % field
Note: Interest rates can be in decimal form
Enter any applicable fees in the Fees field
6. Select when a statement will be generated by clicking the Schedule Statements By drop down
7. Selecting Include Invoices includes an invoice when running a statement
8. Selecting Include AR Aging includes the AR Aging report when running a statement
9. Once all selections are made, click Save Changes