Receivables
Accounts receivable software that shows who owes what, and for how long
Record payments as they arrive, spread them across invoices and let Finance Hero mark late invoices overdue every night. The aged receivables report totals your open balances in five age buckets, in your company currency.
Receivables and payments are included in every Finance Hero package.
How it works
From payment received to balance cleared
Payments
Record a payment against the open balance
Register a bank transfer, cash, card, direct debit or other payment against an invoice, in full or in part. The payment, its allocation and the journal entries are recorded in one action, and the invoice balance updates at once.
- The amount cannot exceed what is still open on the invoice
- Each payment keeps its date, method and your reference
- Part-paid invoices show as Partial until they are settled
Allocation
One payment, several invoices
The payments register lists money in and out. Spread one payment across several invoices, or auto-allocate it, and see what is applied and what is still unallocated. A payment can be reversed, or one allocation removed, with compensating entries instead of deletions.
Overdue
Late invoices flagged every night
Every night, invoices past their due date switch to Overdue, so lists, filters and the dashboard stay current without anyone updating them. The dashboard shows receivables, payables and the top overdue invoices side by side.
- An overdue total above the invoice list
- Top overdue invoices on the dashboard
- Overdue invoices export to CSV from the list
Customers
Every customer's position on one page
Each customer page shows the details, recent payments with their totals and a credit-limit tab with the open balance against the limit. Duplicate customers can be merged: invoices, payments, credit notes and recurring schedules move to the record you keep in one audited step.
Bank statements
Let the bank statement settle invoices
Import MT940 or CAMT.053 statements and let Finance Hero match incoming lines to open invoices: in one click when the amount and the invoice number agree, or as scored suggestions you accept one by one. Each match records the payment and its journal entry.
Also included
More ways to stay on top of what you are owed
Aged receivables
Open balances in five buckets, from not yet due to over 90 days, as of any date and net of unallocated credit notes. Export to CSV or PDF.
30-day cash outlook
The cash-flow page projects money in and out over the next 30 days from open invoices and bills by due date, and lists overdue items separately.
Month-end revaluation
At month-end, the revaluation run restates open foreign-currency invoices at the period-end rate, and the entry reverses itself the next period.
Credit limits
Record a ceiling per customer and compare it with the open balance. The limit is for reference and does not block new invoices.
Saved filters
Build conditions such as active customers in the EU, name the filter and apply it again in one click.
Sales by customer
Revenue per customer for any period in your company currency, one of the 9 standard reports.
Balances in Office Hero Connect
Customers who sign in to Office Hero Connect see their outstanding balance, the invoices coming due and their most recent invoices.
The full invoice list and monthly statements are enabled on request.
Audit trail
Changes to payments, invoices and customers are logged with who made them and when, in a searchable log.
FAQ
Questions about receivables
Not answered here? Write to [email protected]. A person from our team in Skopje replies, Monday to Friday, 09:00–17:00 CET.
Can a customer pay an invoice in parts?
Yes. Record each part as it arrives. The invoice shows as Partial with its remaining balance until it is paid in full.
Can one payment cover several invoices?
Yes. Record the payment once and spread it across the customer's open invoices, or auto-allocate it. Anything left over stays visible as unallocated.
When does an invoice become overdue?
Every night, invoices whose due date has passed switch to Overdue. They then count in the overdue total of the invoice list, appear among the top overdue invoices on the dashboard and age in the aged receivables report.
How do I follow up late payers?
Filter the invoice list by Overdue to see which customers are late and by how much, and use the aged receivables report for the totals by age. Then contact the customer. Customers who use Office Hero Connect also see their outstanding balance when they sign in.
What if I record a payment by mistake?
Reverse the payment, or remove a single allocation. Finance Hero posts compensating entries instead of deleting anything, so the history of the invoice stays complete.
How are payments in a foreign currency handled?
The payment is recorded in the invoice's currency and settles the invoice at the rate it was booked at. The realised exchange difference on a customer payment is not posted automatically, so book it with a manual journal. Open invoices can be revalued at month-end.
Does Finance Hero stop invoicing above a customer's credit limit?
No. The credit limit is for reference: the customer page shows the open balance against it, but new invoices are neither blocked nor flagged.
See receivables in Finance Hero
Book a demo and we will show you how payments, allocations and overdue invoices come together in one ledger.