Receivables and Payables

As companies do business, they sell goods or services to customers. At the same time, companies must buy supplies or utilities in order to function. That is, businesses sell and purchase assets. These operations involve payments or payouts – documented in orders, invoices, credit notes or other statements. From an accounting perspective, they represent your accounts receivable and accounts payable – money requested from or owed to a business partner.

Configuring payment and payout management involves the following areas:

• Receivables/Payables
• Payments/Payouts
• Payments in Billing & Invoice Management
• Reconciliation/Settlements
• Overdue Receivables