Receivables
Keep customer balances, cash received and exchange differences clear across invoicing, collection and settlement.
StatusReceivedPartiallyAppliedUnapplied
Customers and invoices
Contacts holds the customer currency, terms, tax treatment, credit limit and collection group. Credit checking compares amounts in the configured limit currency. A contact may also be a supplier, but the shared identity does not automatically net receivables and payables.
AR Clerk prepares invoices with revenue accounts, cost centres and tax codes. Posting fixes the approved accounting rate and writes receivable, revenue and tax amounts in functional currency. Tax conversion retains any separate authority-prescribed basis. Sending the invoice is a delivery action after posting.
| Invoice information | Why it matters |
|---|---|
| Currency and transaction total | The amount the customer is asked to pay |
| Rate type and exchange rate | The accounting conversion used at posting |
| Functional total | The original ledger value |
| Amount paid and outstanding | Document-currency balances from valid applications |
| Dispute and dunning status | Collection treatment and reminder history |
| Approval and rate evidence | Authority and exceptions behind the posted version |
Missing rates and overrides follow the rate-exception workflow. A later rate update does not change the invoice’s original posting. Corrections preserve the original through a linked credit or reversal.
CreditMemoPendingApproval
- INV-15563 INV-51573 710 2 d
- INV-88212 INV-38339 510 4 d
- INV-40724 INV-19531 450 5 d
- INV-74068 INV-67435 160 12 d
- INV-70156 INV-30859 240 9 d
INV-15563
- CreditedInvoice
- INV-51573
- Customer
- CUS-029
- Entity
- ENT-5359
- InvoiceDate
- 15 Sep
- Currency
- CRR-3005
Record cash when it arrives
PaymentsReceived records the actual cash in receipt currency on the matching bank account. A validated bank statement or manual entry posts bank debit and unapplied-cash credit immediately. The customer can remain unidentified while the bank movement is recognised.
The Cash Application Queue shows amounts still needing allocation. UnappliedAmount is receipt Amount less receipt-currency cash consumed by applications. Withholding is recorded separately from bank cash. Overpayments remain an unapplied liability until their treatment is approved.
Active = true
| Bank Account Number | Name | Entity | Currency | Account Type |
|---|---|---|---|---|
| BA-29568 | Account 567 | ENT-3707 | CRR-4213 | Operating |
| BA-40494 | Account 369 | ENT-6844 | CRR-4576 | Collections |
| BA-45094 | Account 938 | ENT-9400 | CRR-7455 | Payroll |
| BA-51634 | Account 791 | ENT-7042 | CRR-6053 | Savings |
| BA-14378 | Account 667 | ENT-6858 | CRR-5796 | Lockbox |
| BA-65957 | Account 111 | ENT-3363 | CRR-6188 | Operating |
Apply receipts across currencies
PaymentApplications holds the invoice amount settled and the receipt-currency cash used, with the conversion between them. WithholdingAmount is an invoice-currency settlement component; WithholdingFunctionalAmount records its functional value at the separately evidenced withholding rate. The invoice amount settled must reconcile to converted cash plus valid withholding.
At application, ReceiptCarryingAmount clears the allocated current value of unapplied cash. That amount plus withholding receivable is compared with CarryingAmountSettled on the invoice. The journal debits unapplied cash and withholding receivable, credits receivable and posts only the residual realised FX difference.
A receipt covering several invoices has a separate application for each. Partial applications retain the unconsumed receipt amount and the invoice’s remaining debt and carrying basis. References prevent the same application from posting twice.
StatusPostedSentPartiallyPaidCurrency != Entity.FunctionalCurrency
Settlement after revaluation
RevaluationItems tracks unreversed adjustments allocated to open invoices and unapplied receipts. Under Delta, current carrying value includes the remaining original basis and its allocated adjustment. Settlement clears that current value; RevaluationSettlements tracks the adjustment released from the open portion. That release is not an extra profit-and-loss posting.
Prior revaluation FX and the residual settlement difference together explain the exchange movement. Under ReverseNextPeriod, the linked reversal must be posted before the restored basis is used. Partial settlement releases only the allocation belonging to the settled portion.
Approval conditions
Controller: Approve JournalEntries, RevaluationRuns, BankReconciliations, Bills and credit memos above clerk limits, PayRuns and urgent PaymentsMade above AP Clerk limit, disputed IntercompanyTransactions, DepreciationRuns, AllocationRuns, AssetMovements, RateOverrides, ApprovalDelegations and waived CloseTasks
PendingApproval
- JE-21112 ENT-4622 150 4 d
- JE-58944 ENT-8633 450 14 d
- JE-49861 ENT-6361 380 9 d
- JE-89721 ENT-9342 30 13 d
- JE-88494 ENT-8666 440 2 d
JE-21112
- Entity
- ENT-4622
- Date
- 13 Sep
- Description
- Issue to WIP
- EntryType
- Standard
- Source
- Manual
Approval waits for the controller.
Credits, write-offs and collections
A credit memo retains its own date, rate and original invoice reference. CreditApplications records how it reduces an invoice and its carrying basis. An AR Clerk other than the preparer approves credits within recorded authority; Controller approves above-limit credits and all write-offs. ApprovalDecisions preserves the amount converted into the approver’s limit currency.
Dunning follows configured customer-group rules and excludes disputed invoices. AR Aging distinguishes document-currency debt, ledger carrying value and any current-rate exposure presentation. Current exposure is not presented as a replacement for the booked balance.
Modules
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General ledger
Keep transaction amounts, functional values and approval evidence together across journals, close adjustments and group reporting.
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Currencies and rates
Keep the source, purpose and approval behind every exchange rate, from document posting to group reporting.
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Revaluation
Restate foreign-currency balances with clear sign conventions, item-level carrying values and independent approval.
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Receivables
Keep customer balances, cash received and exchange differences clear across invoicing, collection and settlement.
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Payables
Review supplier bills and payment authority, then reconcile cash, withholding and exchange differences without losing the original evidence.
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Banking
Reconcile each bank account in its own currency, recognise unmatched cash and retain the evidence behind transfers and payment outcomes.
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Intercompany and consolidation
Agree cross-entity activity, preserve each company’s books and review translation and eliminations in the group reporting currency.
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Period close
Coordinate close dependencies, review supporting workings and keep reporting periods separate from later postings.
Reports
All reportsAR Aging
Open invoices in buckets of days past due by customer and entity, in transaction currency and posted functional carrying value, with a separate indicative current-rate column; the booked column reconciles to the AR control account.
AP Aging
Open bills in buckets of days past due by vendor, entity and currency, feeding the pay-run schedule and the forecast of foreign-currency cash needs.
Foreign Currency Exposure
Net open position per entity per foreign currency: receivables plus bank balances plus intercompany receivables less payables, loans and intercompany payables, in the foreign currency, at booked functional value and at today's rate, so the treasurer knows what is unhedged before the pay run.
Roles and permissions
Owns the trial balance, the close and the consolidated statements. Approves what the GL Accountant, the Treasury Analyst and the clerks prepare: manual journals, revaluations, reconciliations, bills and credit memos above the clerk limit, pay runs above the clerk limit, and the period close itself.
Prepares manual journals, accruals and prepayments, bank reconciliations and the entity close tasks the Controller approves.
Owns currencies, exchange rates, bank accounts, transfers between currency accounts and the month-end revaluation. Prepares what the Controller approves.
Processes vendor bills in the vendor's currency, checks them against the order and receipt references, and builds pay runs.
Raises customer invoices and credit memos in the customer's currency, applies cash at the receipt rate and runs dunning.
Loads and maintains budget versions in entity currency, runs allocations and reads variance in reporting currency.
Owns tax codes, jurisdictions, filings and the tax accrual.
External or internal auditor. Read-only across the platform with access to the closing binder, revaluation workings and the audit trail.
Related processes
Multi-currency period close
Approve reconciliations, revalue supported balances, review the close and consolidate each entity into the group reporting currency.
6 stages · 3 approvals
Invoice to cash in a foreign currency
Invoice customers in their currency, record cash when it arrives, and reconcile each application with the amount owed and its current carrying value.
6 stages · 2 approvals
Bill to payment
Review supplier bills, approve spending within recorded authority, and track payments, currency differences and rejected-bank attempts through to reconciliation.
6 stages · 2 approvals