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Receivables Module Overview

This Help File Page was last Modified on 06/11/2016

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Receivables Module Overview

This Help File Page was last Modified on 06/11/2016

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Receivables Module Overview

This Help File Page was last Modified on 06/11/2016

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Accounts Receivable deals with the Invoicing, Collection, Categorization and Reporting of Revenue

 

The MKMS Receivables module provides the functionality needed to maintain a detailed Subscriber database, manage Sales, Collections, the Billing of Recurring Billing, Posting of Receipts, printing Invoices and Statements, printing Receivables and Sales Analysis Reports and performing the dozens of other tasks necessary to properly manage Accounts Receivable. and provides access to the Prospect Form and

The Receivables module is accessed from the MKMS Desktop by Choosing the Receivables Tab

To view the Subscribers Form, Select the Subscriber Icon (or Press the F-3 function key).

 

HelpFilesReceivablesTabSubscribersIcon

 MKMS Desktop - Receivables Tab - Subscribers (F3) Icon

 

To properly start the Receivables System module:

Read this Accounts Receivable Overview chapter completely to get a better understanding of what needs to be done.  

Identify the Company's Bank Accounts in the Bank Maintenance Form for each of the cash accounts into which Receipts will be deposited.

Enter your Employees, at least the Sales Personnel.

Later, if and/or when the Service Tracking and/or Monitoring modules are implemented, the Employees who are Technicians and/or Operators will be entered, also.

Each module's Overview section provides a reminder that those additional types of Employees should to be entered.

Complete all of the required User Options and the Accounts Receivable - General Maintenance and any other documented entry requirements, as needed (see below in "What should I do First?" section for detailed information about this step).

Define Sales Categories describing what your Company sells.

Enter the Subscriber Information.

Complete the Accounting Receivable Section in the Edit View of the Subscribers Form, enter Automatic Billing information, and assign a special Bill Payer address, if needed.

Establish each Subscriber's Starting Balance.

Set up the Auto Draft rules for automatic Credit Card or Bank Draft payments, if applicable.

 

HelpFilesSubscribers

Subscribers Form

 

What should I do First?

Read the User Options for Accounts Receivable chapter and completed these Forms:

1.Company Options - General tab

2.Company Options - Invoice/Proposal tab

3.Tax (Sales Taxes) tab

 

Read the Receivables - General Maintenance Menu chapter and its linked sub-chapters for detailed instructions of the following steps: 

At a minimum, the General Maintenance Menu items listed below must be defined:

Pay Groups - Define the required Pay Groups that are used to properly Price your Automatic Billing entries.

Attrition Types - Define codes and descriptions identifying how an Account was acquired, and why an Account was lost.

Banks - Identify the Bank Account(s) in use in the Bank Maintenance Form.

Tax Rates - Define all applicable Sales Tax rules.

 

These General Maintenance Menu items may not be required initially, and are only needed if they would be required to meet your Company's current or future business model:

a.Payment Gateways - These are only required if you accept Credit Cards and want to process those transactions through MKMS.

b.Divisions - These are only required if your Company has multiple Divisions, or you will be automatically billing Recurring Revenue for other Alarm Dealers.

c.Division Groups - These are only required if your Company has multiple Divisions.

d.Billing Cycles - These are only required if your Company will be implementing Multiple Billing Cycles.

e.Wholesale Groups - These are optionally required if your Company will be automatically billing Recurring Revenue for other Alarm Dealers.

f.Employee Sales Teams - These are only required if your Company will be implementing the Commission Tracking System.

g.Pricing Markup Groups - These are only required if your Company will be implementing certain special Discount Rates.

h.Late Fee Groups - These are only required if your Company will be implementing Multiple Billing Cycles.

 

Read the Receivables - Other Maintenance chapter and its linked sub-chapters for detailed instructions of the following steps

Employee Groups - The Employee Group records are created so a default set of Access Rights may be identified for each Employee.

Employee - This Form and its many Tabs provide the required fields for entering Employee information

Sale-Purchase Items - Create codes and descriptions for each type of Recurring Revenue Services (e.g., Monitoring, Open & Close Services, Lease Fees) and other types of Sales (e.g., Installations, Service Calls, Inventory, Labor, Late Fees) for which your Company Invoices.

Subscribers - Enter the Company's Subscribers

 

Once the basic data entry processes are completed to properly set-up the Accounts Receivable System module:

Set the Starting Balance of each Subscriber

Perform the Daily Procedures, as required.

Monthly (at least) perform the Periodic Procedures, as required.

Track Recurring Revenue growth with the Recurring & Other Revenue Reports.

Measure your success by Reporting the Results.