Three types of accounts receivable transactions include invoice creation, payment application, and credit memos. Invoice creation involves generating bills for goods or services provided to customers. Payment application refers to the process of recording and applying payments received from customers against their outstanding invoices. Credit memos are issued to customers for adjustments such as refunds, discounts, or returned goods, effectively reducing the amount owed by the customer. These transactions are fundamental in managing accounts receivable and maintaining accurate financial records within a business.
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Touchless Receivables. Frictionless Payments.
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Emagia is a leading provider of AI-powered Order-to-Cash (O2C) automation platform that modernizes finance operations for midsize to large global businesses. Many global businesses and shared service centers use Emagia’s Autonomous O2C to transform to digital world-class operations in credit, invoicing and payments, receivables, collections, deductions, cash application and cash forecasting. Emagia solutions improve their customers DSO, cash flow, credit risk, operational cost, compliance and profitability.
