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MBS Systems . In-Store Solutions . Accounts Receivable

Accounts Receivable
The MBS Accounts Receivable Module provides a fully functional revolving charge and/or open-item tracking system. The application is designed to handle all of the store’s charge account needs that come with servicing students, faculty, alumni, and commercial accounts. The application is fully integrated with the MBS POS Solution as well as other MBS back-office applications, including our SFA program.

Quick and Easy Setup
The Accounts Receivable application walks you through the account set-up process, including designating an account number or having the system generate one for you. The accounts can be flagged as open-item or balance-forward. While customer name, billing cycle, and credit limit are the only three pieces of information required to set up an account, the application allows for capturing and defining many more pieces of helpful information about the customer, including account address, billing address, phone numbers, discount plans, and notes. This information can be entered when the account is created or it can be added later.

Automated Account Processing
Once an account has been established, it is available as a payment type at the POS. When the customer charges against the account, the system will validate that the account is in good standing and that the purchase does not exceed the available funds (or credit limit). Assuming that the account is in good standing, the charge (showing full line-item detail) is posted to the account and a detailed receipt is presented to the customer who then signs the store’s copy of the receipt thus completing the transaction. In cases where the account is suspended or has inadequate funds or credit, the charge is declined at the POS.

In the case of departmental charges, more information than just the account number may be required for record-keeping purposes. To make sure that the cashier captures this information, the POS system can be set up to prompt for a requisition or purchase order number, which is kept with the detail of the transaction. The charge receipt can also be set up to include printed name, signature, and requisition number.

Payments and Adjustments
Payments can be processed through the POS or entered directly into the Accounts Receivable application. As is the case with any transaction affecting the account, the full transaction detail is posted for reference and auditing purposes. Adjustments include the ability to code the adjustment reason (Credit, Debit, Finance Charge, etc.) so as to maintain a good audit trail. All adjustments are made in the back office and only by users who have the authority to do so within the application.

Management and Reporting
The AR application will provide your accounting department with all of the information they need to manage and report on the store’s AR status. Personnel can define the billing cycles for the various account types and run these invoices and statements on demand. The store can also check average daily balance, last transaction, and payment. The application comes standard with several pre-defined reports, any and all of which can be run on demand, viewed on screen, or exported to your desktop via Client Access.

	Common Pre-Defined Reports Include, but Are Not Limited to:
	.	Current Accounts
	.	Over Limit
	.	Past-Due Payment
	.	Out of Balance
	.	Aged Trial Balance
	.	Open Item Invoice History
	.	Accounts with Credit Balances
	.	Dunning Letters

Student Financial Aid Integration
In many cases, the bookstore is not involved in providing invoices or handling billing for purchases made using student financial aid. However, some of our customers are responsible for coordinating the billing with third-party agencies. For these bookstores, we've integrated our SFA and AR applications so that billing financial aid is a snap. The store simply needs to set up the sponsoring agency within Accounts Receivable. Here, the account can be cross-referenced with the SFA record so that all purchases made with the agency’s monies can be tracked. At the end of the charge period, all of the transactions utilizing funds from the sponsoring agency can be transferred to the account within the AR application. Regardless of how many students used funds from this provider or how many transactions were processed, all information can be consolidated into one clear invoice. For record-keeping purposes, all student and merchandise details are retained in the account history.


	If you're ready to get started, or you'd like more information about Accounts Receivable, contact your MBS Systems Territory Manager or call 800-325-4138.

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MBS Textbook Exchange, Inc.
2711 West Ash Street
Columbia, MO 65203
800-325-0530
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