OneBusiness Accounts Payable and Accounts Receivable (AR) are two important processes for any business.
The OneBusiness Accounts Receivable module is the perfect tool for businesses that want to streamline their accounts receivable process. This module seamlessly integrates with Sales and Billing, making it easy for you to track your business’ finances.
With OneBusiness, you can rest assured that your accounts receivable will be handled efficiently and effectively.
It is the money-generated by the sale of goods or services customers owe you. Once you send an invoice, it becomes part of your accounts receivable – until you receive money from your customer. Tracking of these line items is utmost important for any business.
The process starts with billing and ends at receiving the cash. It will also include payment process, tracking, and debt creation
Please check OneBusiness Debt Management to know more about how to handle debts. When the customer doesn’t pay your invoices, you would write them off as a bad debt or engage a third-party collection agent.
It’s a loss to your organization, and it’s essential to record that in your books. You need to initiate the process to claim the GST you had paid for that amount. We should allow sufficient time to write of a debt. The OneBusiness ERP and finance solutions will enable you to transfer the amount to a separate G/L account during this process.
We recommend having a well-defined business process to write off the debt. Companies will have a management working committees to decide on the action in such cases.
Please check OneBusiness ERP accounting software for your E-invoicing requirements within Australia and India. We have a different version of the ERP for the two countries to meet the needs.
In Australia, we use Ozedi as the Peppol APN service provider to receive and deliver the e-invoices to the registered customers.
The ERP transactions will create entries in our system for you to push the invoice to the central Peppol APN HUB (Australian Taxation Office).
You can push one by one invoice to the hub to deliver the invoice to your customer’s accounting software.
You will receive the e-invoices from your vendors, and OneBusiness ERP will perform automatic invoice verification matching the purchase order in our system. It will await your approval before posting any accounting entries.