Accounts Receivable: General Information

For users to be able to define customers and enter and process customer documents in the system, the accounts receivable functionality has to be implemented in MYOB Advanced. The implementation process includes defining statement cycles, creating vendor classes, and specifying the accounts receivable preference settings.

Learning Objectives

In this chapter, you will learn how to implement the basic configuration of the accounts receivable functionality for a company.

Applicable Scenarios

You perform the basic configuration of the accounts receivable functionality during the implementation of MYOB Advanced, after the company has been configured in the system and the general ledger functionality and cash management functionality have been implemented.

Workflow of the Implementation of the Accounts Receivable Functionality

To implement the accounts receivable functionality, you perform the following general steps:

1. On the Statement Cycles (AR202800) form, you define the necessary statement cycles to track customers' outstanding balances. These cycles will later be used for sending electronic or printed statements to the customers.
2. On the Customer Classes (AR201000) form, you create the default customer class, which will be used to provide default values for customer accounts of the class when they are created and for other customer classes that may be created.
3. On the Accounts Receivable Preferences (AR101000) form, you specify the settings to be used in accounts receivable.