Debt / Receivable Management

The biggest responsibility of the finance departments of the companies is the planned, fast, and effective management of cash flows. Tracking the balances of all monetary transactions in current transactions with customers, employees, suppliers, invoices, expenses, etc. Reducing the risks of delays arising from the payment and collection of debt and credit transactions, such as debt and credit management, and ensuring the income-expense budget balance can be followed up with debt receivable management.

With Workcube, it is possible to identify debtor and creditor companies, analyze current account movements in detail, list of open transactions, current aging, interest transactions, separation of unpaid check/promissory notes and unpaid orders, and reporting of closing transactions according to due dates. As a result of the fact that all FA transactions operate in 3 currencies, the balances can also be followed in 3 currencies. It is ensured that the reconciliation forms, which are prepared for mutual confirmation of the current account balances at the end of certain periods, are transmitted through the system. In addition, due to the fact that a system integrated with modules such as Member Management, Project Management, and Sales Management is implemented, companies can gain privileges by making debt-credit follow-up with connections such as project, branch, sales region, customer representative, and member category.

The most basic purpose in the follow-up of debts and receivables is the management of the actual or future cash flow of the companies. In order for businesses to survive, the importance given to cash flow should be much more than the value given to turnover and profitability. While companies continue to live for a certain period of time without operating profits, companies that fail to meet their debts and obligations may face loss of reputation and even assets. Cash management aims to determine the amount of money required to be kept in the enterprise and to take measures accordingly, without causing cash surplus and deficits.

Before Use

Before performing the Debt / Credit Management transactions in Workcube, you must do the following definitions.

• Reconciliation Form/Letter etc. templates for notifications
• Transaction Types and Authorizations
• Other FA Settings

Module Functions

• Debt/Credit Breakdown
• Delay Interest Transactions
• Payment Performance (Debt Aging)
• Payment Orders
• Payment Requests
• Invoice Closing Transactions
• Reconciliation

Associated Functions in Other Modules

• Transaction Types and Authorizations
• Current Account/Current Transactions (Receipt, Opening Receipt, Transfer)
• HR/Score (Salary Receipt)
• Cash Account/Cash Account Transactions
• Bank/Bank Transactions
• Check - Note/Check Transactions
• Check – Promissory Note/Note Transactions
• Expense and Revenue/Expense - Revenue Receipts
• Budget / Accrual Transactions
• Invoice/Invoices
• Fixed Assets/Buying – Sales Invoices
• BI / Standard Reports/Total Payment Performance

Warning
If your finance team performs debt and credit transactions with one-to-one matching for document closing transactions, you are closing manually. If you do not comply with this definition, you can perform a listing or closing operation by automatically matching the transactions on the W3 system according to the due date. This method on the system is called automatic closing.

Tip
As a result of your interest calculations, you must determine the transaction that needs to be added to the system by selecting the transaction type from the xml settings of the relevant page! For this, while on the relevant page;

ROUTE: You should save the changes you have made by selecting -Yes- for the relevant transaction type on the screen you reach by following the steps of Dashboard > System > Page Settings.

Tip

If you are making current transactions on your bank orders, you can use the checkbox to fetch unpaid orders in the debt statement.

Warning

In order to follow up project-based debt - receivables, you must select a project in current transaction types.

Tip
Follow up and categorize your delayed customers. Thus, the amount of receivables of companies that do not make deferred sales to those who pay late and demand delay interest in return for delays will decrease.