Accounts receivable
In developmentAccounts receivable from invoice to cash
Accounts receivable is money customers owe you for work already delivered. Keeping it accurate means invoices that post correctly, payments matched to the right invoice and an aging report that ties to the balance sheet. Finovra's AR module is in development on top of the ledger that is built today.
How AR transactions will post
Standard double-entry for the main receivables events. Tax lines are simplified here.
| Event | Debit | Credit |
|---|---|---|
| Invoice issued | Accounts receivable | Revenue, and sales tax or GST/HST payable |
| Customer pays | Cash | Accounts receivable |
| Credit note | Revenue, and tax payable | Accounts receivable |
| Write-off | Bad debt expense or allowance | Accounts receivable |
Planned AR features
In developmentInvoices and credit notes
One-off and recurring invoices in USD or CAD, posted to the ledger when issued.
Canadian invoice details
GST/HST registration numbers shown on invoices for registered Canadian entities.
Payment matching
Incoming payments proposed against open invoices for a person to confirm.
AR aging
Balances by customer and age bucket that tie to the receivables account.
Reminders you approve
Drafted collection emails wait for a person to review and send them.
Built today underneath AR
Core engine builtBalanced postings
Every invoice entry must balance, checked by the application and the database.
Corrections by reversal
Posted invoices are never edited in place; corrections leave a trail.
Reporting
Trial balance and income statement already read the same posted entries AR will create.
Questions
- Can customers pay online?
- Online payment links are planned with a payments integration. Nothing is connected today.
- Will reminders send automatically?
- No. Reminders are drafted for review, and a person decides whether to send them.
- Can we invoice in CAD?
- Entities can keep their books in CAD today. Invoicing in an entity's currency is part of the AR release.
Walk through your receivables
We'll show the ledger and reporting today and the AR workflow we are building.
Last reviewed against the product on .