Accounts receivable

Telefakt has a ledger, CUSTLEDGER, for managing accounts receivable. A/R can be done wholly inside Telefakt with imports of bank payments or outsourced to external party. Integrations exist for Payex and Arvato/Riverty.

A/R and the dunning process can be down to invoice level, especially suitable for large accounts.

Way of working

When using Riverty, Telefakt subscribes to a message queue, receiving confirmation for invoices sent by Telefakt to Riverty. When that confirmation is received on the queue, the invoice is posted in the custledger. When payments are received or a payment has been allocated to an invoice, Telefakt gets the message from the queue, and stores the event in the ledger. The Customer ledger keeps track of invoices, payments and allocation of those payments to invoices/credit notes. Payments that are not matched to an invoice yet will also appear in the ledger.

Dunning

If payment has not been received within the due date, an automatic reminder is sent by email from Telefakt after vetting by Credit & Collection. You can read more about the dunning process here.

Integrations

In addition to outgoing integrations towards invoice distribution parters etc, Telefakt exposes a number of APIs for easier handling and querying of the A/R subsystem. Invoince payment status and payments, as well as invoice documents (PDF's, Excel's etc.) are available in Telefakt APIs. This information is available both in the TFAPI and to applications that connect directly to the database through views such as V_INVOICESTATUS, V_INVOICE and V_INVOICE_FILES. When used these API's give any apps that connect to Telefakt full A/R details.

Reporting

There is already rich OOTB reporting for A/R, including, but not limited to Aging report, Statement of account, Cash flow predictions, etc. There is currently more than 300 reports available to users in Telefakt.