F120 Advanced Accounts Receivable (V3.0)

The F120 Advanced Accounts Receivable (V3.0) course was much more involved than the F110 Advanced General Ledger (V3.0) course. There are a lot more setup options to consider. I first tried to complete the exercises without watching the training videos, but I failed. I needed the training videos in order to see how to do all the steps in the process.

Here are the main topics covered in the training material:

1. AR Recurring Transactions
   • You can create a schedule and then add invoice templates to that schedule. Then when you run the General Recurring Transactions (AR504000) process, new invoices will be created from the templates according to the schedule.
   • In the schedule you can setup an execution limit (how many times the schedule can be executed), a starting date, and an ending date.
   • Then schedule is pretty flexible. Here are some examples of what you can setup:
     • Every 3 days
     • Every 2 weeks on Mondays and Thursdays only
     • Every 2 months on the 15th of the month
     • Every 4 months on the 3rd Saturday of the month
2. AR Credit Verification
   • You can create a credit limit and then a buffer amount so that you get warned when you’re over the credit limit, but future invoices won’t be placed on hold unless the buffer amount is exceeded.
3. Credit Card Processing (by far the most involved section)
   • I’m pretty impressed with the flexibility of this module. It seems like it’s designed to work with any credit card processing center. Most ERP systems force you to choose from a small list of vendors, if you even have any choice at all.
   • Because the setup is a little involved, I was instructed me to go to http://demo.acumatica.com/ in order to complete the certification exercises because some of the setup had already been completed there.
4. AR Direct Write-Off
   • I wish Sage 500 ERP did a better job of this.
   • You can use the Write Off Balances and Credits (AR505000) screen to view a list of all available invoices or filter by Customer/Branch/Write Off Limit, then select the individual invoices that you want to write off. Very easy.
5. AR Overdue Charges
   1. Make sure the Accounts Receivable Preferences (AR101000) is setup properly.
   2. Setup an overdue charge using the Overdue Charges (AR204500) screen.
   3. Define a statement cycle utilizing an overdue charge using the Statement Cycles (AR202800) screen.
   4. Run the Calculate Overdue Charges (AR507000) screen to generate the overdue charge invoices.
6. AR Statement Cycles
   • Use the Statement Cycles (AR202800) screen to setup when the statements will go out and what the aging buckets will be.
   • I’m not sure why you only get 4 aging buckets though. I was hoping there would be more. Some people like to go crazy with their buckets.
7. AR Dunning Letters
   • You can setup levels that trigger a dunning letter to be sent after an invoice is past due for a specific number of days. You could setup one level to trigger after 5 days overdue, another after 13 days overdue (bad luck), another after 17 days overdue, etc. There is no theoretical limit here on how many levels you can setup. I setup 20 levels just for fun, but you could make as many as you want as far as I can tell.
   • I’m not positive, but I think you can tie different letter formats to different levels. So, a nice letter after 5 days past due and a threatening letter after 30 days past due.