From this category, you can access all A/R transactions for all members. There are three types of A/R transactions:

Video Tutorials

A/R Invoices module

The basic information about an A/R Invoice – member account ID, invoice number, date due, billing name and address, total invoice amount, etc. – is stored in an A/R Invoice “Detail View.” The information about the one or more charges that comprise the total invoice amount – charge descriptions, amounts, etc. – is stored in one or more Item “Detail Views” associated with the A/R Invoice. Thus, A/R Invoices and line items have a “parent-child” relationship; an A/R Invoice is the “parent” to one or more “child” line items.

A printed A/R invoice combines information from a “parent” A/R Invoice and its “child” line item(s).

CC-Assist simultaneously organizes A/R Invoices in three different ways, providing three methods of access to them. The A/R Invoices module provides access to A/R Invoices for all members. A Member “Detail View”: “Account page provides access to all A/R transactions for a member including any A/R Invoices for the member. Invoices are also stored in the Event Registration “Detail View.”

A/R Payments module

The basic information about an accounts receivable (A/R) payment – member account ID, payment date, payment amount, etc. – is stored in an A/R Payment “Detail View.” CC-Assist simultaneously organizes A/R Payments in three different ways, providing three methods of access to them. The A/R Payments module provides access to A/R Payments for all members. A Member “Detail View”: “Account page provides access to all A/R transactions for a member including any A/R Payments for the member. Payments can also be created in the Event Registration “Detail View.”

A/R Credit Memos module

A member may have one or more A/R invoices with amounts due which the member cannot pay or is unwilling to pay. You can close an unpaid invoice with a Credit Memo transaction. A Credit Memo reduces a member’s A/R account balance by any amount that you deem uncollectible. A Credit Memo is similar to a payment in that it credits a member’s A/R account and is applied to one or more invoices. A Credit Memo differs from a payment in that its offsetting accounting entry is not a debit to cash (since no cash is received), but rather a debit to the revenue account that was originally credited with the invoice.

The basic information about an A/R Credit Memo – the member account ID, the write-off date, the write-off amount, etc.- is stored in an A/R Credit Memo “Detail View.” CC-Assist simultaneously organizes A/R Credit Memos in two different ways, providing two methods of access to them. The A/R Credit Memos module provides access to A/R Credit Memos for all members. A Member Detail View: Account page provides access to all A/R transactions for a member including any A/R Credit Memos for the member.

A/R Value Table modules

Within the Accounts Receivable folder there five Value Table modules: A/R Invoice Batch, an A/R Payment Method, Sales Tax Codes, Sales Tax Agencies and Sales Tax Composite Rates. CC-Assist comes with some of the tables already set up with codes, but all of the modules have an associated “List View” menu for creating, modifying, and deleting codes as desired. To learn how to create or edit a value table record see Adding/Editing A/R Invoice Batches, Adding/Editing Payment Methods, Adding/Editing Sales Tax Codes, Adding/Editing Sales Tax Agencies and Adding/Editing Sales Tax Composite Rates.

A/R Libraries

Two Libraries are available within the Accounts Receivable folder: A/R Invoice Messages and A/R Invoice Line Item Sets. CC-Assist comes with some libraries already set up within the modules, but all of the modules have an associated “List View menu for creating, modifying, and deleting libraries as desired. To learn how to create or edit a library see Adding/Editing A/R Invoice Messages and Adding/Editing A/R Invoice Line Item Sets.

Purpose of an accounts receivable system

Accounts receivable (A/R) are amounts owed to the chamber by buyers who purchase goods and/or services on credit. For a business, the buyers are called customers, but for a chamber, the buyers to whom you sell goods and services on credit are usually members of the chamber. The A/R system in CC-Assist provides a system of record keeping and facilities for

  • recording information about the members and/or customers to whom you sell goods and services on credit,
  • creating invoices for credit sales,
  • printing invoices to send to members,
  • creating payments remitted from members, and
  • creating write-offs for amounts owed that cannot or will not be collected.

A Member is an A/R Account

From an accounting point of view, a Member is a receivables account – that is, an account in which you record invoices issued to the member and payments received from the member. Member “Detail View”: “Account page is designed for this purpose.

The account balance is a receivable amount – an amount owed to the chamber by the member. An account balance greater than zero indicates that the account contains one or more invoices that are not fully paid.

The Open-item Method

CC-Assist employs the open-item method of A/R record keeping, a method that provides a means for knowing which invoices in a member’s account have been settled and which have not. The open-item method is one in which you apply each credit item (payment or write-off) in a member’s account to the one or more invoices for which it is intended. An invoice is settled and said to be closed if the sum of all amounts applied to it equals the amount of the invoice. Otherwise, the invoice is said to be open.

A closed invoice is not necessarily a paid invoice; an invoice can be closed by having payments and/or write-offs applied to it.

Applying a credit item (payment or credit memo) to an invoice connects the credit item and some or all of its amount to the invoice. Typically, a member remits a payment in the amount of the invoice for which it is intended. In that case, you record the payment, apply it to the invoice, and as a result, the invoice is closed. However, there can be situations that are exceptions to this typical one-to-one connection between payments and invoices.

Example #1: A member remits a single payment for multiple invoices. For example, suppose that a member has two invoices – one for $200 and one for $25 – for which the member remits a single payment of $225. In this case, you apply one payment to two invoices; you apply $200 of the payment to one invoice and $25 of the payment to the other invoice.

Example #2: A member remits multiple payments for a single invoice. For example, suppose that a member has an invoice for $100 for which the member remits one payment for $75 and one for $25. In this case, you apply each of the payments to the same invoice.

Example #3: A member remits partial payment for an invoice and does not pay the remainder owed. For example, suppose that a member has an invoice for $300 for which the member remits a payment of only $250, and for which you do not expect further payment. In this case, you apply the $250 payment to the invoice that leaves the invoice with an open amount of $50. Then you create a write-off for $50 and apply it to the invoice. Thus, you close the invoice with the combination of a payment and a write-off.

The application of a credit item (payment or write-off) to an invoice can be traced in both directions: from the credit item to the invoice and from the invoice to the credit item. Therefore, for any credit item, you can identify the one or more invoices to which it is applied. And for any invoice, you can identify the one or more credit items that are applied to it.

Invoices vs. Open-item Statements

CC-Assist lets you bill members with either invoices or open-item statements – or both. An invoice is a set of charges with an associated due date.

An open-item statement is a form of bill that shows the status of a member’s account. It lists all of the member’s unpaid (“open”) invoices and shows the aging and total of unpaid amounts.

You can bill members with

  • invoices,
  • open-item statements,
  • both invoices and statements, or
  • invoices for all members and statements for only the members that want them.

To avoid the disbursement of duplicate payments, many businesses have a policy of paying only from invoices and not from statements. Hence, billing with invoices rather than statements is a more common practice.

However, you may have a chamber member who is very active and for which you frequently create invoices for luncheons etc. The member may prefer that you send a statement once a month so that he or she can pay the entire account balance with one check rather than having to separately pay several invoices throughout the month.