There are several Accounts Receivable reports that will tell you which customers owe you money, how much they owe you, and total receivables due within a specific date range. You can use these reports to guide and analyze collection efforts.
You can find these reports by going to E-Commerce > Reports in the main navigation menu.
A/R Aging Summary Report
Bookkeeping Area: Accounts Receivable
How it helps you: The A/R Aging Summary Report helps you monitor past-due accounts, stay up to date on collections, and maintain a positive cash flow. Simply put, it helps you stay on top of delinquent accounts.
How it works: It shows you the number of invoices that are currently due (less than 30 days old) and the past due amounts in 30 day intervals, showing you how many accounts are overdue by the number of days. You can filter this report by current balance amount, total amount due (current + past due), and past-due interval (e.g. 90 days) Click on a person's name to view the amount paid and balance due in the Account Summary section of their Person Record.
Important notes: With some fancy billing automation in place, you can notify yourself (or your staff) as soon as a subscription or payment plan declines. With this information, you can reach out to the customer as quickly as possible to reduce churn rate (attrition.)
Monthly Receivables
Bookkeeping Area: Accounts Receivable
How it helps you: The Monthly Receivables report helps you monitor past-due accounts so you can maintain a positive cash flow.
How it works: The Monthly Receivables report shows you a summary of orders with payments due for each month. This report helps you monitor money owed to you by others. It displays the number of payments due and the total amount due. You can filter this report by lead source, year, month, product, and more. Click on Show Details to view a list of the individual orders included in these totals. Click on the Date link to view a summary of daily receivables.
Important notes: You can access the Daily Receivables report by clicking on a specific month in the Date column. To filter the report or edit the column layout, click the Edit Criteria/Columns button.
Daily Receivables
Bookkeeping Area: Accounts Receivable
How it helps you: The Daily Receivables report helps you monitor past-due accounts so you can maintain a positive cash flow.
How it works: The Daily Receivables report shows you a summary of orders with payments due on a specific date. This report helps you monitor money owed to you by others. It displays the number of payments due and the total amount due. Click on a Date link to view a list of the individual orders included in these totals.
Important notes: To filter the report or edit the column layout, click the Edit Criteria/Columns button. You can filter this report by lead source, year, month, product, and more.
Receivables
Bookkeeping Area: Accounts Receivable
How it helps you: The Receivables report shows you a detailed list of orders with a balance due on a specific date. This is a detailed report, displaying the Sale (Order Name), the customer name, sale total, payment due, and more. You can filter this report by date, balance due, Tag, lead source, products, and custom fields. You can also look up a specific invoice by ID number. This report is intended to help you keep a positive cash flow.
How it works: This is a detailed report, displaying the Sale (Order Name), the customer name, sale total, payment due, and more. You can filter this report by date, balance due, Tag, lead source, products, and custom fields. You can also look up a specific invoice by ID number.
Failed Invoice Report
Bookkeeping Area: Accounts Receivable
How it helps you: You can use this report to personally contact customers to resolve credit card issues, to manually initiate a billing Follow-Up Sequence (if you are not using Purchase and Billing Automation), or to investigate potential issues with your merchant account. You are able to filter this report by invoice total, balance due, date range, product, and more.
How it works: The Failed Invoice Report displays all failed auto charge transactions for subscription programs and payment plan installments. It only lists the charges processed through a merchant account linked to your Max Classic system. It will not show manually processed transactions (e.g. swiped credit cards, check payments, etc.)
Important notes: Click on the Actions button and select Manage Failed Invoices to void (write off) the listed invoices, remove the voided invoices from the Subscription Program, and (optional) select an Action Set to run. You can add a Failed Invoice Write-off Action Set through Setup > Action Sets. This action set may need to remove tags, cancel the subscription, and send internal / external notification emails.
Pro-Tip! Please note that applying the Write off will consider that Invoice as paid and then remove it from the Failed Invoice report as well.
Credit Card Report
Bookkeeping Area: Accounts Receivable
How it helps you: You can use this report to monitor credit card expiration dates and manually follow up with customers whose cards are due to expire (if you are not using the Credit Card Expiration Order Triggers.)
How it works: The Credit Card Report allows you to look up a person using the last 4 digits of their credit card number. This report will also show you credit cards that have an error status, as well as review total charges and refunds for a specific credit card. You can filter this report by Tag, status, card type, charge date, expiration date, and more.
Important notes: The Credit Card Expiration Trigger mentioned above is a critical piece in automating your business. Take a look at the Purchase and Billing Automation section to see a list of powerful tools you can use to make your life easier and your bottom line larger.