Flexible Business Logic for Receivables & Payables

Use Navision flexibility and company-specific setup options to effectively manage receivables and payables accounts by doing the following:

Each customer and vendor has its own account card containing payment information, addresses, currency and tax information and payment terms. For example, use formulas to determine due dates, discount periods and assign these to customers and vendors. You may add an unlimited number of user-defined fields to suit your business needs, which may also be used for quick search and filtering.

§     You can also attribute a posting group to an account, as well as an unlimited number of default dimensions, for example, responsible purchaser, sales region, item classification and so on.

§     Gain immediate access to account statistics, ledger entries, bank accounts and all documents related to an account from its account card.

§     Separate ship-to and bill-to addresses so you always send billing, statements and reminders to the correct department or location.

§     Process cash and credit sales and purchases to accommodate the needs of a customer and vendor.

§     Add comments to any account or transaction.

§     Use recurring journals for your most frequent transactions, including monthly lease payments, internet access bills, and more.

Flexibility and Transparency when Applying Cash Receipts and Payments

§     Apply a payment to as many invoices and credit memos as you like. For greater control, you can choose how to apply customer or vendor transactions by specifying the amounts to apply to individual documents. This can be especially helpful when customers make partial payments toward multiple invoices.

§     If you choose the Apply-to-Oldest method, the system can automatically apply receipts to the oldest invoices for specific customers.

§     View detailed information about the amounts that will be posted to the GL prior to posting, such as payment discounts and rounding amounts.

Payment Discount Tolerance - Set a tolerance level of several days in order to apply and close an invoice and payment, even if you receive the discounted payment later than the discount date specified by the payment terms. Discount Tolerance can be automatically allowed or decided on a case-by-case basis.

Payment Tolerance - Set a tolerance level (in local or other currency) on an invoice in order to be able to apply and fully close the invoice and payment entries, even if the payment amount is less or more than the invoice. Tolerance can be automatically allowed or decided on a case-by-case basis.

This can save tremendous amounts of time because Accounts Receivable personnel will no longer have to manage small amounts remaining on customer accounts, which can be automatically closed based on your tolerance level.

Unapply - Reverse all postings and changes related to an application of customer and vendor transactions so they can be applied correctly.

§     The system maintains complete information on each of your transactions for posted, unposted, paid, and historical transactions. 

§     Monitor your receivables and payables via customer/vendor statistics, notes, aging reports, or via online inquiries.

§     In-depth customer and vendor statistics with up to the minute balances, total sales and purchase figures, total profit, payments, and discounts across various periods. Navision’s unique Trendscape window enables noteworthy information on a daily, weekly, monthly, quarterly, or annual basis – instantly.

§     Customer and vendor statistics per currency.

§     Customer and vendor aging and detailed trial balance reports with cut off by specific date and aging by invoice date or due date when you have a dollar limit for the amount to be paid.

Trade Internationally

Define an unlimited number of currencies and determine the way in which foreign currency amounts are rounded and posted.

Automatic calculation of exchange rate gains and losses.

Define a default currency for customers and vendors, and easily change this in journals and documents.

Invoice a customer or a vendor in an unlimited number of currencies.

Manage entire customer and vendor accounts in a foreign currency.

Sales Tax & VAT

Navision supports the use of Sales Tax. You can set up individual tax areas for each customer and vendor. The calculation will include the ability to calculate Use Tax and tax on tax. Calculation of sales tax is also available from the General Journal Lines.

Use Sales Tax posting groups to calculate Sales Tax for customers and vendors automatically. 

Use Navision to report Sales Tax details to the relevant authorities. 

Calculate Use Tax when purchasing from vendors. 

Sales taxes can be capitalized (or expensed) when you pay sales taxes to vendors for fixed assets or for internal expenses. 

Calculate and report sales taxes on an accrual or on a cash basis, to meet your state’s requirements.

Use VAT posting groups to calculate VAT for customers and vendors automatically.

Specify whether unit prices on sales and purchase lines should include or exclude VAT.

Check that VAT registration numbers fit country standards and are not duplicated for another customer or vendor in the database.

Allow the manual entry of VAT to ensure consistency between external documents and internal accounting. For example, where the VAT on an external document is different from that calculated in the program, it might be relevant to enter the VAT amount calculated by the vendor.

Use Navision to report VAT details to the relevant authorities.

Sales Invoicing and Receivables

Sales Invoicing

Sales Invoicing is fully integrated with General Ledger and Inventory, so you can post and print customer invoices and sales credit memos.

§     Receive notices informing you if a customer has exceeded their credit limit, is blocked from further transactions due to a dispute, or has an overdue balance.

§     Standard Sales - Set up standard sales document lines for a customer, including quantities, to minimize the data entry required for those customers with standard repetitive sales, orders, invoices, and more. These standard lines can be automatically inserted into a new order or invoice and then edited as needed.

Sales Invoice Information Pane

§     Instant access to and a good overview of the customer’s sales history, available credit and shipping and contacts information.

§     Information about item availability, substitutes, prices and discounts are contained in a single view, which makes it easy to provide quick answers to customer questions.

§     Invoice entry is expedited through, for example, a “copy to document” function that is available directly from the sales history window.

Sales Invoice Discounts

You can set up any number of invoice discount terms, for which you define a certain minimum amount, discount percentage and/or a service charge depending on the size of the invoice. You can do this in both local currency and in foreign currencies. The discount is calculated on the individual sales document lines and becomes part of the net sum of the invoice.

Receivables Management

§     Send statements or reminders to customers with overdue balances. You can specify a range of criteria, for example, when to send reminders to customers, how many reminders should be sent and whether they should vary in character, interest and additional fee amounts, and which currency should be used. Reminders can be created manually or by the program.

§     Define an unlimited number of finance charge terms, for example, interest rates, grace periods, minimum amounts, currency and so on. Finance charge memos can be created manually or by the program.

Purchase Invoicing and Payables

Purchase Invoicing

Post and print vendor invoices and purchase credit memos with Purchase Invoicing, which is fully integrated with General Ledger and Inventory.

Standard Purchases - Set up standard purchase document lines for a vendor, including quantities, to minimize the data entry required for those vendors with whom you make standard repetitive purchases, orders, invoices, and more. These standard lines can be automatically inserted into a new order or invoice and then edited as needed.

Purchase Invoice Discounts

You can set up any number of invoice discount terms, for which you define a certain minimum amount, discount percentage and/or a service charge depending on the size of the invoice. You can do this in both local currency and in foreign currencies. The discount is calculated on the individual purchase document lines and becomes part of the net sum of the invoice.

Payables Management

§     Place specific invoices on hold to stop payment until the purchase invoice is approved. Alternatively, block specific transactions for a vendor if there is an ongoing dispute with that vendor.

§     Prioritize vendors so that you can define which vendors should be paid in which order.

§     Automatic suggestion of vendor payments based on due dates, vendor priority and discount availability.