Module 5 of 13 · M105
Sales & Receivables Management
Order, invoice, and the debt that remains
Customer accounts, sales orders, invoices and proforma invoices. Tracks what the business has sold, what has been delivered and what each customer owes.
Grouped as Entries
- Definitions
- 3
- Transactions
- 5
- Periodic Processes
- 2
- Enquiries
- 2
- Reports
- 2
Total 14
Counted from the application’s own menu.
Screenshot reserved Create Customer Account — Sales & Receivables Management
The inventory
What this module holds
Every module in Magnet ERP files its screens under the same five headings — Definitions hold the reference data the module works from, Transactions are the entries staff make day to day, Periodic Processes are the runs made at the turn of a period, Enquiries look up what is on record, and Reports print it — so a clerk who has learnt one module already knows where to look in the next.
Sales & Receivables Management carries 14 entries across 5 of those headings. What follows is the module’s own menu, entry for entry, in the order the application lists it.
One thing to read the list with: a posted entry is never overwritten. A document is corrected while it is still unverified; once it has been endorsed it can only be undone by a reversal, and the reversal is a dated record of its own. That is why Sales & Receivables Management carries 2 reverse entries below. Every module, this one included, opens with its Endorsement Officers for the same reason: someone named has to stand behind what is posted. That is what makes the books defensible when somebody comes to audit them.
Definitions 3
- Endorsement Officers
- Delivery Methods
- Accounts Receivable Categories
Transactions 5
- Create Customer Account
- Create Sales Order
- Reverse Sales Order
- Create Sales Invoice
- Reverse Sales Invoice
Periodic Processes 2
- Amend Sales Invoice
- Proforma Invoices
Enquiries 2
- Sales Orders
- Sales Invoices
Reports 2
- Sales Order Report
- Sales Report
Worth naming
What a feature list would not tell you
There are two routes to a sale, because businesses sell in two ways. Invoice directly and the invoice itself releases the goods — the counter sale, priced and gone. Or take the order first, and the waybill that sends the goods out is what raises the invoice, so nothing is billed that has not left the store.
VAT rates are held against the product and may be overridden on the invoice itself, so a rate that differs on one sale does not require a change to the product record.
A proforma invoice is kept distinct from a tax invoice: it raises no receivable and posts nothing to the ledger.
One set of books
Where Sales & Receivables Management meets the ledger
Sales & Receivables Management keeps its own registers; it does not keep its own books. What is recorded in this module posts through to the Integrated General Ledger — the chart of accounts, the journal vouchers, the accounting periods and the period close. Every module posts here; the business keeps one set of books.
That single set of books is also where the project claim is settled. MagnetERP is called an Enterprise Projects Business Solution because every transaction can be linked to a registered chart of projects or to project-milestone codes — contract job batches, production job batches and procurement job batches. That applies to the entries this module makes as much as to any other.
Every transaction keeps its own currency and its exchange rate to the base currency. And because one organisation may run several companies in Magnet ERP, each company’s records are kept properly separate: a figure posted in one is never quietly counted in another.