Accounts Receivable

Loan Level Capability.

The largest receivable account in most Mortgage originators is their “Loans Held for Sale” account. AMB’s loan level capability was designed to show which loans comprise that account as of any date in time without the need for a traditional Accounts Receivable system. In fact, most mortgage bankers do not have the need for a traditional Account receivable system as you would find in a manufacturing or wholesale distribution business. However, several of our clients have had the need not only for a traditional receivables function but one that would operate at the loan level. AMB’s core capability to record transactions at loan level has allowed us to provide this very unique capability. It may sound easy but if the invoice were allocated to more than one loan or if only some of the lines of the invoice were allocated to loans and the amount received from the customer was less than the amount of the invoice, you would need the mechanisms in place to identify which loans were satisfied and which ones were not AND the system would have to be smart enough not to bother the user with such detail if it wasn’t necessary.

  • Accounts Receivable invoices are easily entered to the system. Cash received from a customer can be applied to specific invoices or to the client’s overall balance. If applied to the client’s overall balance, those amounts can easily be applied to the related invoices at a later date either when that information becomes available or is simply more convenient to do so.
  • The Aging of Open Receivables can be run as of any date in the past. You never lose the ability to report on a prior date.
  • The Aging of Open Receivables allows the user to have “Reserved” accounts presented as a single line on the report rather than be included in the detail of more likely receivables.
  • Other standard reports include:
    • A/R Statements
    • Cash Received by Customer
    • Sales Journal by Customer
    • Sales Journal by Invoice number
    • Sales Journal by Date
    • Customer list
    • Invoice by Number
    • Invoice by Date
    • Accounts Receivable Detail
  • The Loan Level capability is provided as an add-on Module to the standard Accounts Receivable module.