Debtors and Accounts Receivable

A debtor is someone who owes you money, normally because you have invoiced them for goods or services supplied. The invoice details what they owe and why. The process of managing debtors is often referred to as Accounts Receivable.

Operating a Debtors ledger involves up to 5 distinct processes:

• Enter the Sales Invoices
• Post the Invoices to update the balances in the debtors ledger and the general ledger
• Print/email Invoices and send them to customers
• Process Debtor Receipts when the debtor makes payment. This updates the balances in the debtors ledger and the general ledger
• Optionally Print/email/eInvoice and Age Statements

These processes are described in this section.