Lesson #47
Manage accounts receivable

Receivables is another large module in RB with functions for accepting and crediting payments, assessing additional charges, correct invoices, monitor accounts receivable, and perform collections. In this module, you can:

  • Credit and track client payments. Apply a payment to multiple invoices at once. Apply retainers and payments via checks, PayPal or credit cards.
  • Keep track of retainers. If a client has a retainer, it automatically appears when crediting payments from that client so you can apply it.
  • Enter credits, discounts, overpayments, and other adjustments.
  • Balance transactions and post payments.
  • Enter non-cash transactions, such as credit and debit memos, duplicate payments, refunds, miscellaneous income, voids, and write-offs.
  • Acknowledge client payments with emailed receipts.
  • Provide resources with billing reports instead of invoices to see what they can expect to be paid for work they have done.
  • Assess finance charges.
  • Include PayPal and credit card processing fees.
  • Run daily register reports.
  • Print or email monthly journal reports to your accountant. Get an instant snapshot of accounts receivable for any date.
  • Send clients monthly statements via email or regular mail.
  • View monthly client activity reports. View all paid or voided invoices for a set time period.
  • Find overdue invoices.
  • Send clients detailed collection letters.
  • Monitor collection efforts using reports, follow-up alerts, collections notes log, and copies of disputed or unpaid bills you can pull up from the central repository and email to clients from within RB.

Receivables functions by name

TL;DR: Apply payments and perform other accounts receivable tasks, including collections.

RB concepts in this lesson

Notes Logs: Un-editable internal-use only notes entered either by a user or automatically by RB appear in chronological logs in the database record where they occurred.

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