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Part 7 – Accounting
Overview
Quantrac 2005’s Accounts Receivable module provides a valuable tool for your company by enabling you to
operate your HVAC business in a way to best serve your customers and produce revenues, without having to
employ tedious accounting procedures. The system provides for Customer, Service call or Installation invoicing,
application of full or partial payments to invoices, and tracking of this information on an ongoing basis.
Using the invoice payment entry function, the system organizes payment receipts into deposits, and then prints a
deposit ticket (to take to the bank with the checks, cash, or credit card slips). Further, you are able to print
Statements of Account to your customers, generate reports (such as aged receivables and customer ledgers), and
quickly check any customer’s credit status. You also have the ability to create your custom dunning letters and
record them along with your dunning phone calls for quick reference.
Finally, at the end of an accounting period, the system will produce an A/R Summary report, with credit and debit
adjustments for each account affected by Quantrac 2005 operations (including Revenue accounts, your Cash
Deposit account, Sales Taxes Payable accounts, Adjustment accounts, Liability accounts, etc.).
Philosophy
Some Quantrac 2005 software system competitors begin with an accounting system. Then, they “Tack-on” a user
interface to make it look like an HVAC program. Quantrac’s HVAC Office / Quantrac 2005 was created first to aid
your office to serve your customers, standardize internal office operations, and generate revenue. Then, as a result
of your business activity the system creates and reports changes due to business activity General Ledger accounts
for you to enter into the accounting system of your choice. This is done via a paper trail report that also serves as a
hardcopy backup. We have found this to be the most reliable interface and easiest to reconcile communication
between the operational Quantrac 2005 software and your existing accounting system or software. In addition, this
scenario allows complete flexibility in your choice of Accounting systems. Whether you prefer a basic manual
system or the most sophisticated computerized system, Quantrac 2005 provides you with summarized data for
updating account balances.
Quantrac 2005 (with the AR module option) maintains all of your company’s customers’ account balances,
prepayments, finance charges, receivables, etc. Account information is instantly available for any customer from
any location within the system. For instance, Quantrac 2005 will (if you wish) perform a customer credit check and
display lists of unpaid invoices upon creation of each service call for that customer to aid your office debt collection
success. You also have the ability to view or print any invoice that has ever been created in the system. A
collection of reports including Aged Receivables, Customer Ledgers, Receipt Ledgers, etc. can be printed quickly
and easily. A customer’s entire account history is available at a moment’s notice.
Quantrac 2005’s internal Accounts Receivable option is intended to do all of the functions of the receivables
portion of your existing accounting. Here’s how it works:
1.
You create invoices for all products and services provided by your company using the Quantrac 2005’s
invoicing function. All of your company’s invoices are either created by…or recorded in Quantrac 2005
during your normal office operations.
2.
All invoice payments are logged into Quantrac 2005 using the Payment Entry process. The system will
print a bank deposit ticket, to eliminate the manual task of adding checks and recording them on the back of
your hand-written bank deposit ticket.
3.
Upon command, Quantrac 2005 creates an Accounts Receivable Summary report indicating which general
ledger accounts to credit or debit in your existing accounting package. This report includes all of the
affected revenue accounts, liability accounts, sales taxes payable account, and cash deposit account. The
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