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Receivables & Collections

Payment terms and methods

Each contract is set up with payment terms and a payment method.

The payment methods supported by the system are the configurable but can be categorised as either:

  • Direct Debit (DD)
  • Manual – which covers Credit Card, Cheque, Cash, Direct Transfer, Post Office or Over the Counter

The payment terms and method are contract terms between the customer and the business.

The system allows a user to modify the payment terms or method in accordance with any requirement. This can be done for each MPAN affected, for all the MPANs in a billing group, for all the MPANs owned by the customer or for all the MPANs owned by the customer for which a third party is responsible.

Direct debit automation

ERS supports fully automated direct debit capability and supports customer payments through BACS transfer or by cheque.

Payment processing

ERS  enables the user to record the receipt of a batch of cheques and/or BACS transfers, received from one or more customers and processed by the user in a single work session. The system facilitates the user checking that the number and amount of cheques and/or BACS transfers received matches the number and amount processed in the batch. The receipts are finally allocated when the user instructs the system to do so. A batch control sheet can be printed to accompany the cheques during processing e.g. send to the bank.

If a cheque is refused at the bank or a BACS transfer withdrawn by the customer, a user can record this by identifying the original receipt. The system then creates a reversal of the original posting on the sales ledger account by adding the posting of a payment and the allocation associated with the original receipt are reversed by additional allocation with the full value of the payment allocated against the reversed receipt.

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EDW House
Radian Court
Milton Keynes
MK5 8PJ
UK
Tel: +44 (0)8448 802 489
Email: info@edwtech.com

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