AR Management - This article explains how and what to set up on debtors to facilitate Lumary AR.
Within Lumary, both Accounts and Contacts can be debtors. The following are some examples
- Contact: Client - a client can be a debtor when they are managing their own funds and are invoiced for services rendered to them.
- Contact: General - a general contact can be a debtor when they are managing clients funds on behalf of a client, and the general contact is being invoiced for services on behalf of the client.
- Account - an account can be a debtor when the services for a client need to be invoiced to a third party, this could be a Plan Manager for example or Icare.
Required packages and permissions
Available with: Lumary 22.82 and later
Permission: Lumary AR - AR Management
Lumary AR Management features do not necessarily come as standard. If these features are not available to your users, please contact your Account Manager.
This article will cover:
- Managing AR Settings on a Debtor,
- Managing Invoice Totals on a Client Debtor, and
- Managing Invoice Totals on a General Contact or Account Debtor.
Managing AR Debtor Settings on a Debtor
- Navigate to a debtor (Contact or Account).
- Click Debtor Settings.
- Click Edit.
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The following settings can be managed on a debtor:
- Payment Terms - This overrides the payment terms for all invoices linked to this debtor, the due dates of invoices are adjusted when this is updated.
- Invoice Email - This overrides the Email field if the invoice needs to be sent to a seperate email address.
- Invoice Template - this overrides the Invoice Template for all invoices created for this debtor.
- Click Save
Managing Invoice Totals on a Client Debtor
The debtor summary on a client will show both what a client directly owes, and what is owed by third parties such as plan managers or nominees. The component consists of the following:
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Total Owed - Total owed for services provided to the client, includes invoices that are directly payable by the client as well as third parties.
- If any of these are overdue, this figure is shown in a red badge next to the total.
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Owed by the Client - Total owed for services provided to the client, where invoices are directly payable by the client.
- If any of these are overdue, this figure is shown in a red badge next to the total.
- Clicking the arrow icon > on the right will popup a list of the invoices that make up this total figure.
-
Owed by others for the Client - Total owed for services provided to the client where invoices are payable by the a third party.
- If any of these are overdue, this figure is shown in a red badge next to the total.
- Clicking the arrow icon > on the right will popup a list of the invoices that make up this total figure.
- Accrued Services - This is the total of any Service Delivered records that have not yet been extracted for Billing or Claiming.
- Open/Error - This is the total of any claims for the client that have been returned as an Error or an Open Claim.
- Usually Pays in - This is the average number of days it takes the debtor to pay an invoice.
Managing Invoice Totals on a General Contact or Account Debtor
The debtor summary on a General Contact or Account will show what a debtor owes. The component consists of the following:
-
Total Owed - Total owed for services provided to the client, includes invoices that are directly payable by the client as well as third parties.
- If any of these are overdue, this figure is shown in a red badge next to the total.
- Clicking the arrow icon > on the right will popup a list of the invoices that make up this total figure.
- Usually Pays in - This is the average number of days it takes the debtor to pay an invoice.