4. Manage receivables

4.1 Visualizations

• Ability to view receivables aging with total outstanding, total overdue, total customers and total invoices as well as aging graph with invoices bucketed between
  • Due in 30+ days
  • Due in 30 days
  • 1-30 days overdue
  • 31-60 days overdue
  • 61-90 days overdue
  • 91-120 days overdue
  • 120+ days overdue
• Ability to view a customer tab with all customers that have open invoices or have been paid in the last three months
• Ability to view an unpaid invoices tab with all open invoices and key metrics and actions
• Ability to view a paid invoices tab with all invoices paid in the last three months as well as key metrics and actions

4.2 Receivables workflow

• All invoices when synced from the General Ledger are ran through Machine Learning models to derive an expected payment date based on historical payment behaviour of the customer
• All customer are classified as early or late payers based on historical payment behaviour
• Invoices are automatically classified by Centime as
  • Predicted
  • Late
• Invoices can be set by the user as
  • Promised
  • Estimated
  • Disputed
• Ability to set the expected payment date and status for every unpaid invoice
• Ability to drill into details for each invoice such as last payment date and amount
• Late and disputed invoices do not impact the cash flow forecast until a payment date is set in the future
• Ability to create automated invoice reminder campaigns or use the three predefined templates provided by Centime
• Ability to control a number of parameters within invoice reminder campaigns
  • Cadence: how often emails are sent to customers before and after the due date
  • Type of communication: customer reminder email or internal notification email
  • Sender: who the email comes from and who the customer can reply to
  • Personalization of each communication: Centime provides a set of templates for emails sent to Customers before and after the due date and the user has the ability to personalize each email within each node of every campaign
• Ability to set reminder templates that are then used in reminder campaigns
• Ability to send monthly statements to customers and select the date of the month on which the statements will be sent
• Ability to send one-off reminders to customers
• Ability to embed payment links within invoice reminder (this is only applicable for Clients that have applied and been accepted for CentimePay, Centime’s merchant account)
• Ability to add notes at the customer and invoice levelAbility to view history at the invoice level including status changes, payment method changes, approvals provided, notes added

4.3 Receiving payments

• Ability to apply for CentimePay, Centime’s merchant account
• Once approved, users have the ability to automatically embed payment links to every invoice reminder sent to Customers as part of automated or one-off invoice reminders
• Customers have the option to pay by ACH or credit card
• CentimePay payments are automatically posted to the General Ledger
• CentimePay payments are paid out in full (gross) and individually
• CentimePay payments are paid to the Client’s payout account T+2

4.4 Known issues

• N/A