Accounts Receivable

Creation of customer invoices directly in Accounts Receivable via Instant Invoice or Manual Customer Invoice, outside the order-to-cash sales flow. Covers header and line entry, tax handling, postings and credit check at invoice creation.

Entry and matching of incoming customer payments using Mixed Payment, including payments on file, offsets, payments on account and cancellations. Payments match to open customer ledger items and generate vouchers to the general ledger.

Creation and printing of customer reminders (dunning) on overdue balances using reminder proposals and multi-level reminder templates, plus follow-up on invoices that reach collection level. Reminder proposals load due open items and can calculate accrued interest.

Creation and printing of interest invoices on customer invoices due or paid late, and management of write-offs and write-off notices for uncollectible amounts. Each customer is linked to an interest template; write-offs within tolerance are handled automatically at payment entry.

Monitoring of customer credit activity and receivables aging: assignment of credit analysts, credit limits and credit checks, Customer Ledger Age Analysis reporting and DSO analysis. Supports proactive control of exposure and follow-up on outstanding balances.

Turns aftermarket service agreements into cash across three commercial models: fixed recurring fees, usage-rated charges driven by meter readings, and outcome or availability-based charges with bonus and service-credit mechanics. In IFS Cloud the Service Contract carries the billing structure, periodic invoicing draws on contract calendars, Measurement readings and completed Work Order lines, and the resulting Invoice feeds revenue recognition and contract margin analysis. It is the process that makes servitization financially controllable rather than merely aspirational.

Governs the periodic valuation of works in progress and the issue and certification of applications for payment (AFP) in IFS Cloud, covering both upstream client applications and downstream subcontractor applications. Progress measured against the IFS Cloud Project and Project Activity structure drives the gross valuation, from which retention, previous payments and contra charges are deducted to produce the net sum applied for. The process is aligned to the UK statutory payment regime of payment notices, notified sums and pay less notices.

Bills the recurring hire charge across the life of the rental in IFS Cloud. The customer invoice for rentals is based on rental transactions rather than deliveries, so the Generate Rental Transactions job must run before invoicing and a single rental order line can be invoiced many times throughout the hire. The transaction generation schedule on the order line drives the transaction end date and the planned invoice date, and rental lines can be consolidated onto the same invoice as other order lines.