by Gaia Bombonato

“…but this is magic! With a few simple steps you can quickly close your receivables and payables!”

Companies that have a very large customer and suppliers base often find it difficult to optimally manage their ledgers with the risk of making mistakes in customers and suppliers closing. This means that companies must spend time and resources to verify which collections or payments have to be made yet and which are still to be registered in accounting. 

Mago.net through its automatic procedures facilitates enterprises to manage properly the customers and suppliers ledgers, allowing to keep under control their credit and debit exposure and encouraging an increase in business efficiency.

Everybody knows that Mago.net with its multiple functionality provides the possibility to use the clearing in order to close receivables or payables simultaneously from the journal entry of collection or payment…but maybe not everyone knows that it is also available an automatic procedure to close receivables and payables massively. 

“..every company has its own modus operandi”

The procedure of customer/supplier closing can be easily adapted to different business needs because it allows to select the type of closing choosing between normal closing or rebate, the type of payment to be proposed on the closing installment and the offset to be used in the accounting entry. 

But advantages of Mago.net do not stop here…the payables/receivables closing procedure, through simple filters and selection criteria, makes it possible to extract  precise installments to be closed and to automatically post their closing in accounting in order to reduce time and risk of errors.

For further information about this topic you can ask to your referral or visit our on-line Microarea Help & Information Center.

by Gaia Bombonato

… to each his own…letter template! Mago.net efficiently manages communication with clients e suppliers, while saving precious time.

Sending notices and circular letters to clients and suppliers can be a long and tedious process! 

In the present social and economic reality, the ability to “beat the rush” in the market is the key to companies’ success. All companies should be able to grasp the opportunity to optimize resources and make business processes more lean and effective.

Mago.net helps you to follow this purpose and allows your company to focus resources on core business. Mago.net strongly supports the automatic management of mailing to clients and suppliers, with a considerable saving of time and resources, while minimizing waste.

In addition, you can use special letter templates based on a text file, in which the content is designed by the user. The letter then, can be sent to everyone or just to a group of customers and suppliers.

And that’s not all! Mago.net  allows you also to print the return receipt, creating at the same time labels with selected customers and suppliers addresses.

“…when was the last time I sent the letter to my customer/supplier?”

In addition to all the advantages coming from processes automatization in sending circular letters, Mago.net allows you to recollect communications to clients and suppliers. The Circular Letter Procedure automatically updates customers and suppliers database, with letter template, print status and date of printing.

Everybody knows that Mago.net allows you to easily use e-mail services in a flexible way, thanks to Mail Connector …but maybe not everyone knows that…the Italian version of Mago.net is totally integrated with PostaLite, the Zucchetti mailing service made to manage communications and correspondence to clients and suppliers in a simple, fast and effective way. Whith PostaLite you can also choose between different options for sending and printing, depending on the actual needs.

For further information about this topic you can ask to your referral or visit our on-line Microarea Help & Information Center.

by Patrizia Benelli

ERP Financial Project & Product Manager

The lack of cash is frequently caused by uncollected receivables: before applying to a credit recovery company, or eventually to a lawyer, why not take advantage of the Mago.net features.

A detailed analysis regarding the level of credit and collection of accounts receivable allows you to comprehend more thoroughly the situation and help you to plan the recovery strategy, especially if you are in need of liquidity.

Occasionally it might be necessary to avail yourself of specialised consultants in debt collection, and to certain extents even of lawyers. However, the first action that should be undertaken is to send a dunning letter to the customer, reminding him of the outstanding debts and asking him to arrange for the payment of the balance as soon as possible.

Perhaps not everyone knows that, with Mago.net, customised dunning letters can be issued, also by email, directly to the customer from his account statement.

A very important feature to take notice of is the handling of the overdue payment reminders, and the possibility to arrange them by level and provide to each level a corresponding customised text.

If you wish to run the printing of the dunning letters automatically to all customers, it might be useful to provide a threshold amount (into customer master data) below which the letter will not be issued.

The situation level regarding the dunning letters issued can be kept under control. This thanks to the fact that each customer profile provides information reporting the last dunning letter he received, the overdue payment reminder level reached and the number of times he reached that level.

The above details allow Mago.net to be informed, in regards to the next letter issuing, whether to start once again from the first level (if the overdue payments have been settled) or whether to increase the reminder level.

Should your customer also be your supplier, you can print the account statement considering also the amounts owed to him as supplier thanks to the link between the customer and supplier master.

To receive further information regarding the potential offered by this feature, please contact your reseller. Furthermore, if you are a M.L.U. subscriber, you can visit our website and follow the lesson regarding the Dunning letters in the eLearning course NON EXISTING PAGEMago.net - Payables and Receivables.