- AP and AR trial balances need to be manually reviewed to determine the net balance for entities that are both a customer and a vendor.
- Payments are made to vendors who are also customers and who actually owe the company money.
- You have to enter in transactions to clear the AR or AP balance and then enter additional transactions in the opposite module.
- Transactions could be entered incorrectly or missed, causing great difficulty in recovery of those transactions.
- Collection efforts are made for customers who do not really owe you money.
- You have difficulty managing customers who are national accounts.
- There are problems with the way you manage them. You manually group customers for credit watch.
- There is unacceptable credit exposure to customer groups.
- Payments are sometimes misapplied. You are not able to follow up on collection issues in a timely manner, or you are not able to follow up at all.
- You are incurring increasing bad debt.
- Receivables are too high.
- You are missing deadlines and follow-ups.
- When a new trial balance is printed, all the notes are transferred to the new report.
- You have a manual process to generate collections letters and emails for each customer.
- The activity is redundant.
- Letters are processed manually for customers with past due accounts, but that takes too much time.
- Emails are typically generated either one at a time, in batches, or in groupings. Hard copies of letters are kept to track the history, but that costs too much.
- You are unable to analyze customer data.
- You have to manually review AR aging to identify customers who have or who are developing credit issues.
- You are unable to capture all customers that are in need of collection efforts.
- Tracking account history is difficult.
- When a new trial balance is printed, not all the notes are transferred to the new report.
- If a legal situation arises due to the nonpayment of invoices, your company does not have all proper collection documentation.
- This information is not recorded manually.
- There is a potential that information could be lost.
