Debtors (Accounts Receivable)

If your entity has a number of credit customers, or if it is an association that collects dues or other charges from members, you will want to keep track of the amounts owed you. Artemis Account's Sales/Invoicing module does this and maintains a record of how much each customer has purchased in the year to date, credit terms and credit limit for the customer, the amount of current and past due bills, and other information about the customer.

You can use Sale/Invoicing to prepare customer statements. This module also provides several summary reports giving information about customers.

Information in this module is the basis for the entries relating to sales on credit. When sales are made, debit Debtors and credit Sales Revenue - and VAT/Sales Tax Liability if this account is kept. When you receive cash from customers, debit Cash, and credit Debtors.. Other possible variations are described in a later section.