You can understand about AR Payment Analytics
Payments Analytics is a recapitulation of the cash received for a specific date range. It is broken down by payments, prepayments, credit memos, etc.
The AR Payments is an account summary of all transactions applied. This includes Invoices, Payments, Prepayments, and Credit Memos. With AR Payment Analytics by Arborgold, you can now benefit from ready-made payment reports and proprietary data to make data-backed decisions, you get access to insights you’ve never had before.
AR Payment Analytics has delivered the below KPIs and Insights.
| KPI | Insights |
| Total Cash Receipts / Payments | Total amount of money received from cash receipts( payments + prepayments). |
| Payment Received [Excluding Prepayment] | Amount of receipts allocated to payments/the amount of money received from payments here we consider only the job(s) that are invoiced and not used for any prepayments. |
| Total Prepayment | Total amount of money received from prepayments/amount of receipts allocated to prepayments. |
| Prepayment Unused / Balance | Total current account balance/amount of prepayments not used / the remaining funds available for any prepayments. |
| Total Prepayment Used | Total prepayments were used to pay off an invoice on the account/prepayments are applied. |
| Prepayment Refund | Amount of prepayments refund. |
| Total Invoiced Amount | Total Invoiced amount (service price+ sales tax+ discounts) |
| Total Credit Memo Amount | The sum of the credit memo amount for the selected period. |
| Most Preferred Payment Method | You will know which type of payment methods users prefer more and the amount of money received from a specific payment method. |
| AR Transaction Summary |
It will help to analyze various types of transactions for a specific period of time. ex: the count of total invoices, credit memos, payments, |
| Cash Receipts / Payments Received over Time |
Total cash receipts amount by week/month/year based on the selected date range. |
| Prepayment Refund |
The prepayment refund summary report for tracking and reconciling refunds related to prepayments. It helps businesses maintain accurate financial records and provides transparency in refund processes. |
| Top 5 Salespersons by Cash Receipts |
Total cash receipts generated by a salesperson for the selected date period |
| Prepayment Used Report |
Displays a list of applied prepayments with details. This includes the date the funds were used, how much of the funds were used, and the job name and invoice number that the funds were used to pay off. |
| Prepayment Unused Report |
Prepayment balance is the summary of the current balance on the account and you will know the customers who make prepayments for a specific job(s), but they haven’t used those prepayments. |
| Payment Summary |
The payment summary shows how much money was received for the financial year and, how much is invoiced, how much you received from the payments, credit memos, and prepayments. |
Computed Fields
Total Cash Receipts = Payments + Prepayments
Total Invoiced Amount = Service Price + Sales Tax + Discounts
Here are the business constraints that are applied.
- All the Metrics are calculated for the applied date range filter.
- We consider only active customers
Filters
Using filters you can analyze by applying various search criteria, here are the available filters:
Customer Name → Salesperson → Job Name → Transaction Name → Payment Method → Class → Job Status
The Importance of AR Payment Analytics & Benefits
- AR Payment Analytics is extremely valuable, both in the boardroom for the C-suite as well as for anyone involved in sales and payment optimization.
- The AR Payments shows some interesting payment statistics and insights into payment trends. monitoring solutions are vital because they help businesses measure, view growth, and make decisions all the way through the payment chain, and across each different platform
- Locked within every transaction is data that reveals who bought what, where and when, and how they paid. It will help to examine their payment systems to dig deeper into the operational factors that influence them
- Payments operations managers are responsible for a huge volume of activity and the related speed at which payments are processed, so viewing payments analytics allows managers to focus on areas where human interaction may be required, alleviating processing delays.
Top 4 reasons why you would need AR Payment Analytics for your Organization
- Payment history: Analyzing payment history data can help companies identify trends in customer payment behavior, such as the average time it takes for customers to pay their bills, the frequency of late payments, and the percentage of invoices that are paid on time.
- Payment methods: Analyzing data on payment methods can help companies understand which payment options are most popular among their customers, such as credit cards, ACH transfers, or checks. This information can be used to optimize payment processing workflows and offer more convenient payment options to customers.
- Payment reconciliation: Analyzing data related to payment reconciliation can help companies identify discrepancies and errors in their AR process, such as payments that were not applied to the correct invoices or payments that were not recorded in the system.
- Customer segmentation: Analyzing data on payment behavior can help companies segment their customer base based on factors such as payment history, payment frequency, and payment method. This information can be used to tailor AR management strategies to specific customer segments, such as offering discounts to customers who pay on time or implementing stricter collections policies for customers with a history of late payments.