Accounts Receivable is part of Money & The Close in Windward System Five. System Five includes 7 documented capabilities here — 6 in the standard set and 1 optional.
These 7 capabilities sit within System Five's 1287-capability documented set — a selection, not a ceiling.
Take money at the counter and receipt it
A received-on-account document lets a clerk without receivables privileges take money and issue a receipt in any amount, leaving the bookkeeper to apply it to specific invoices later.
Give a discount for paying early
An early payment amount or percentage is entered alongside the payment and posts as a separate discount credit invoice on the customer's account.
Record payments collected for a finance company
A dedicated document records payments collected on behalf of a finance company that funded an earlier purchase, and handles suppliers whose payee name differs from their trading name.
Charge interest on late accounts
Interest invoices are generated in bulk against outstanding invoices, aged by book month or date, using an annual non-compounded rate set globally, per customer or per invoice.
Bill the branch, collect from head office
Parent companies can be linked to subsidiary customers, invoices raised on the subsidiary and paid by the parent, with credit limits checked at both levels and all subsidiary invoices shown on the parent's payment screen.
Know exactly which invoices are paid
Payments are applied against specific invoices rather than a rolling balance, so it is always clear which goods have been paid for and a disputed invoice can be left unpaid while others are settled.
Apply an odd cheque across old invoices
Pay Invoice, Pay All and Pay Up To fill the payment column automatically, with Pay Up To spreading an odd cheque amount across the oldest invoices first until it is used up.
Yes. Parent companies can be linked to subsidiary customers, invoices raised on the subsidiary and paid by the parent, with credit limits checked at both levels and all subsidiary invoices shown on the parent's payment screen. This is optional in System Five.
Yes. Payments are applied against specific invoices rather than a rolling balance, so it is always clear which goods have been paid for and a disputed invoice can be left unpaid while others are settled. This is optional in System Five.
Yes. An early payment amount or percentage is entered alongside the payment and posts as a separate discount credit invoice on the customer's account. This is optional in System Five.
Yes. Interest invoices are generated in bulk against outstanding invoices, aged by book month or date, using an annual non-compounded rate set globally, per customer or per invoice. This is optional in System Five.
Every capability on this page is documented in the System Five capability index. Last updated 2026-11-05.