Retailers can now manage their accounts receivable within their point-of-sale software — allowing customers to charge purchases to their account and pay later.
Credit limits: Retailers can set credit limits to determine the maximum amount of money that a customer can charge to their account. By receiving AR balance notifications when a customer is loaded to an invoice, staff can stay in the know — especially when they have reached their credit limit. Plus, POSIM gives the option of printing an on account balance to invoices.
Payments on account: Allow customers to make payments on their account — the payment can be processed through a sales invoice. Offer customers convenient options, like mailing payments to the store — the store can then process through a batch, as part of the store’s scheduled procedures whether weekly, bi-weekly, monthly, etc.
Apply finance charges: Keep account balances up to date in your point of sale system by charging monthly interest and finance charges for past due accounts. POSIM allows customization with the option of setting grace periods before charging interest on an account.
Run statements and reports: Print customer statements and other AR reports as part of end of month procedures. Statements have a payment stub referencing all the necessary information to process a received payment.
Recurring Billing: Automate the process of billing groups of customers who are billed regularly for a product, subscription or other service. This can be especially helpful if you have a monthly service or product, like our wine merchants who offer wine of the month memberships.