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Ageing

Account Groups in Merciglobal Cloud ERP

In many business scenarios, a single customer might have multiple purchase accounts within a company due to accounting or adjustment purposes. This fragmentation can make tracking each account cumbersome. To streamline this, Merciglobal Cloud ERP introduces the Account Group feature.

What is an Account Group?

An Account Group allows users to consolidate various accounts related to a single customer under one unified group name. This functionality is available in the A/c Group Master module.

How to Use:

  • Create a Group Account Name within the A/c Group Master.
  • Assign this group name in the A/c Group field of every account tied to the same customer.

Benefits:

  1. Unified Reporting: Generate a Group Ledger Report by simply selecting the group. It compiles ledgers of all associated accounts.
  2. Group Outstanding Reports: Create comprehensive outstanding reports for all accounts under the group.
  3. Improved Data Clarity: Ensures cleaner data management and easier tracking of customer accounts.

Collection Man Integration in Merciglobal Cloud ERP

Aligned with the Account Group concept, Merciglobal Cloud ERP offers the ability to assign a Collection Person to each account group. This is managed through the Collection App.

Purpose:

Assigning a collection person helps streamline follow-ups and ensures secure, efficient collection management.

Features and Benefits:

  1. Simplified Account Management: The collection person doesn't need to manually track all customer accounts.
  2. Automated Data Pull: The Collection App fetches data relevant to the assigned collection person.
  3. Data Security: The collection person is restricted from accessing data outside of their assigned accounts.

Important Note:

Ensure the collection person's name is created as a User Account within the system to enable access via the Collection App.

Ageing of Outstanding Reports in Merciglobal Cloud ERP

Merciglobal Cloud ERP provides a comprehensive and customizable Ageing of Outstanding Reports feature, enabling users to manage and track both receivables and payables efficiently. This tool is crucial for timely follow-ups and robust credit control by offering insights into how long invoices or payments have been overdue.

Overview:

The Ageing of Outstanding Reports include:

  • Receipts Ageing: Monitors overdue customer payments.
  • Payments Ageing: Keeps track of pending vendor payments.
  • Receivables and Payables Summary: Consolidates data for better financial exposure analysis and cash flow planning.

Custom Ageing Settings:

Users can define custom ageing ranges tailored to their organization's requirements. Configuration is done via:

Utility → Accounting → Rec/Pay Ageing Settings

Setting Description
Minimum Days Defines the starting point of the ageing slab.
Maximum Days Marks the end point of the ageing slab.
Caption Label for the ageing range (e.g., "0-30 Days", "Over 90 Days").

You can set up multiple slabs with custom captions which reflect in both Outstanding Receivables and Outstanding Payables reports.

Benefits:

  • 🔍 Flexible Reporting: Custom ageing buckets offer specific financial insights.
  • 💰 Cash Flow Analysis: Quickly identify long-pending dues and act promptly.
  • 📅 Strategic Planning: Helps refine credit policies and vendor negotiations.

Best Practices:

  • Routinely review and update your ageing slabs.
  • Ensure alignment with payment terms and collection strategies.
  • Use intuitive and descriptive captions for clearer report presentation.

Learn More:

Refer to the official documentation for more detailed guidance: 👉 Merciglobal Documentation on Ageing Reports

Whether you're managing accounts receivable, accounts payable, or overseeing finance operations, the Ageing Report in Merciglobal Cloud ERP is an indispensable tool for enhancing cash flow and minimizing financial risk. It delivers the flexibility, precision, and customization you need to stay ahead. 🧮💼

Account Group, Agent and Agent Mobile in Outstanding Reports

The O/s Receipt and O/s Payment reports (Merged and Summary) can show, for every bill or party:

  • AcGrp - the Account Group name of the party, as set in the A/c Group field of the Account Master.
  • Agent - the agent of the bill (or of the party, when the bill has no agent).
  • Agent_Mobile - the mobile number of that agent, taken from the Agent Master.

How to show these columns:

  1. Open the outstanding report and click Generate.
  2. If a column is not visible, click the Configure (column settings) icon in the toolbar at the bottom of the report.
  3. Move AcGrp, Agent and Agent_Mobile from Hidden Columns to Visible Columns and click Save. Your column choice is remembered for the next time.

Notes:

  • Agent_Mobile is blank when the agent has no mobile number. Fill the Mobile field in the Agent Master and run the report again.
  • You can also filter the report on Agent and Group from the Agent and Group tabs of the report criteria.