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How online store operators simply check all money movements

Monitoring financial transactions can be difficult. Find out here how nexnet can support you with its accounts receivable management.

BASIC thinking: In accounting, there are more or less elaborate tasks. Among the more elaborate is definitely the monitoring of all financial transactions. Especially for internationally established companies that sell goods or services online, this task represents an enormous personnel and time burden. But there are efficient solutions for this that can be linked to all sales channels and general ledger solutions.

The payment flows are becoming increasingly diverse. All sales and payment transactions of customers must be controlled – from the purchase in the online store to the receipt of money. In order to effectively perform these tasks and processes, an accounts receivable system that is suitable for mass production is required.

What is actually accounts receivable management?

If sales are not paid in cash but on a specific payment date, receivables of the store operator from the customer who uses a specific good or service are formed.

Accounts Receivable Management takes care of the process from the creation of a receivable to the final posting of the incoming payment. It monitors this process for each customer and for each payment received. The aim is to quickly identify outstanding receivables and ensure the company’s permanent liquidity.

Likewise, Accounts Receivable Management takes care of the following tasks:

  • Create the chart of accounts and maintain the accounts of the customers or debtors.
  • Checking the creditworthiness of customers before accepting the order
  • Check contract eligibility
  • Create and post invoices and incoming payments
  • Monitoring of payment due dates
  • Processing of complaints and their accounting entry
  • Creation of credit notes and value dates
  • Making reminders
  • Initiation of further measures in the event of a delay in payment
  • Reconciliation to the general ledger
  • Ensuring audit-relevant processes

Monitor money movements

Safe, relaxed and effortless

Automated solutions are available to complete these tasks successfully and efficiently. nexnet’s accounts receivable management offers you an industry-independent solution that monitors all money movements in your end-customer business and compares them with the data from your online store, your marketplaces or even your offline sales channels.

nexnet connects accounts receivable management in business process outsourcing (BPO) between your customers, various payment service providers and banks and ensures that you are always in the picture about all money movements.

You receive permanent information about the completeness, due date and correctness of all transactions; the solution records all movements directly in the accounts, so that you then conveniently receive a certifiable monthly statement (SOX compliance). It is also possible to generate a daily overview of all booking transactions in aggregated form.

In addition, the accounts receivable management solution supports common general ledger solutions such as SAP or DATEV.

Efficient dunning system

However, nexnet does not stop at accounts receivable management. Receivables management for defaulters goes one step further. Here, you can individually design your requirements for the commercial dunning procedure. Draw up and send dunning letters, define dunning charges and monitor the payment behavior of your customers.

A collection solution is also integrated, which even includes the judicial dunning procedure. All dunning levels can be easily integrated into your existing processes via online interfaces.

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Stephanie Timm
Stephanie Timm

Seit rund 3 Jahren Redakteurin und Content Creator bei nexnet GmbH. Geschult in den Themen Billing, Payment und Finanzmanagement recherchiert und verfasst sie Texte, die dem Leser nicht nur die spannende Welt von Billing, Debitorenmanagement, Payment Clearing und Co. näherbringen, sondern sie berichtet auch über Änderungen zu den Regularien in diesen Bereichen.