Configure receivables settings

A tour of the Accounts Receivable settings: the accounts invoices post to, payment terms, whether you sell products, and the approval policies that govern invoices and quotations.

Intermediate4 steps~4 min

Set the posting profile.

Map the accounts AR uses — the receivable control account, default revenue, tax payable, bank clearing, and more. Issuing an invoice posts to these.

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Define payment terms.

Create terms such as Net 30 or end-of-month, with optional early-payment discounts. Terms drive each invoice’s due date.

Set sales preferences.

Turn “sell products” on or off. When off, product and inventory pickers are hidden and you invoice for services only.

Review the approval policies.

The workflow policy decides when an invoice needs approval; the quotation approval policy does the same for quotations (by discount or amount).

See “Set up multi-step invoice approvals” for building the invoice approval chain itself.