RB9’s Receivables module has functions for accepting and crediting payments, assessing additional charges, sending statements and payment receipts, correcting invoices, monitoring accounts receivable, and performing collections.
Easy to apply payments & other transactions
You can quickly enter client payments and other types of transactions, such as duplicate payments and refunds, in RB9. Apply retainers and payments via check, cash, online payment (through RB Connect), electronic transfer, and credit card.
You can apply a payment to one or more invoices at a time. At the same time, you can enter any discounts or overpayments you will refund to the client. And include all additional charges and fees, such as finance charges, late fees, and PayPal or credit card processing fees. (You can have RB9 generate monthly finance charges for a batch of invoices, plus add finance charges to any invoice yourself manually.)
If a client has any retainer amount outstanding in RB9, it automatically appears when crediting payments from that client so you don’t overlook the retainer.
Enter non-cash transactions, such as credit and debit memos, duplicate payments, refunds, miscellaneous income, voids, and write-offs. Depending on the type of transaction, designate whether the transaction affects related resource payments including commissions.
Balance transactions and post payments and other transactions.
Interactive Aged A/R report
See at a glance every client’s overdue total amounts by age. The Aged A/R Report is interactive, so after you compile the report to see who owes you the most money the longest, you click each hyperlinked firm name in the report to get all of their contact info, plus see the record of what collections actions you have already pursued with them. You have all the information you need to act and respond at your fingertips. You don’t have to go to separate functions to do collections tasks.
- Interactive grid
The default view lists clients with unpaid balances in descending order by the ones who have the largest amount outstanding in the oldest time period — the clients you want to go after first. However, you can sort the grid by any of the columns, so you can view the list in ascending or descending order by any time period, grand total owed, firm name or number, assigned collector, or COD status.
- Connected to other functions
Click a button next to any firm listed in the Aged A/R to access other RB9 functions from within Aged A/R to:
- View the firm’s payment history for the last 90 days.
- View and send the firm specific invoices.
- Send the firm collection letters for any/all overdue invoices.
- Hyperlinked firms
Firm names in RB9’s Aged A/R report are hyperlinked to their profiles in your system, so you can click one to pull up all of their contact information, plus the rest of their details instantly including your collections notes to review.
After accessing a firm from the Aged A/R Report, you can easily:
- Contact the firm.
- Record your current action.
- Enter any notes about the situation.
- Set reminder date/time for follow-up.
- Designate a follow-up person to receive the reminder.
- Hyperlinked monthly totals
In addition to the hyperlinked firms, monthly outstanding balances are hyperlinked too. Clicking one of them brings up a list of the unpaid invoices for that month, along with firm contact information, so you can easily refer to specific invoices while on the phone with the client.
Extra useful too is that this list of the client’s monthly outstanding invoices are all hyperlinked to their details. So you have ALL the facts when talking to the client about getting paid.
- Choose time periods to review
The Aged A/R report can include 12+ time periods in one interactive report, so you can view a year’s worth+ of A/Rs in one report. You can choose to view unpaid balances for 6 months, or any other time period up to 12 months, plus a column for outstanding balances beyond the monthly periods listed.
- Export report to save or print
If you want a static report for your records or other purposes, you can export it from RB9 to an Excel spreadsheet or generic file. Once exported, you can also print the report.
Other interactive reports
Other reports that link to additional information offer the same efficiency. For example, invoices listed in the Paid Invoices report and the Voided Invoices report are hyperlinked so you can easily view any invoice information without leaving the function. And if you want a static version of any interactive report, you can export it as an Excel or CSV (comma separated values) file.
Other reports work better as static reports. For example, the Resource Billings Report is static with each resource listing on its own page(s) so you can provide resources with billing reports instead of invoices to see what they can expect to be paid for work they have done. With other static report functions, you can run daily register reports, print or email monthly journal reports to your accountant, and generate reports of monthly activity by a single client or all of your clients.
Generate finance charges
If you include finance charge rates in your firm listings, RB9 can generate monthly finance charges for outstanding invoices over 30 days old. You can also add finance charges to any invoice yourself manually so you don’t miss out on any amounts due.
You can further manage finance charges by clearing any that were not paid but you don’t want to pursue. And you can view the history of finance charges applied and cleared to all accounts or a single invoice or firm.
Send statements & payment receipts
Send clients monthly statements via email or regular mail. Automatically include the relevant open invoices with the statements. You can also send only the open invoices without a statement.
After posting payments, email cients payment receipts that automatically include payment details.
Email collection letters
If you want to send collection letters to clients instead of or in addition to calling them, RB9 includes a set of customizable collection letters. Email clients detailed collection letters directly from RB9.
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, and make your collection efforts more efficient.
Want to learn more about RB Receivables?
You can find out more about the Receivables module in ReporterBase 101, which contains lessons about every module, function, plug-in, and concept in RB9.
ReporterBase 101 comes in 2 versions: weekly email lessons and a website, the RB9 Primer, where all the lessons appear. You can sign up to have an RB lesson delivered to your inbox each week. And you can also look up anything on the website, where lessons are grouped by module or concept.