Getting Started with Accounts Receivable

As a Rillet user, you have the opportunity to manage your Invoicing and revenue recognition all within the Accounts Receivable module. From setting up customers to managing contracts and collecting payments, you can use Rillet to manage the entire contract to cash process

To access the Accounts Receivable management features, first go to your main navigation sidebar and click the contract icon.

You’ll see a list of navigation options appear when you do so. These options are customers, products, contracts, invoices and credit memos.

Let’s look at each of these sections and learn what they can help you achieve. You can switch between each one by clicking the tabs at the top of your screen.

Customers

The Customers section of your Accounts Receivable window is where you can keep track of all the customers your company delivers services to. You can add, edit or delete customers from this window. To learn more about how to perform these actions, read this article: 📄 Add a New Customer to Rillet

Products

The Products section is where you’ll record what products or services you’re delivering to your clients. For example, a subscription plan or an SaaS service could be products you record here. To learn more about adding products to this list, read this article: 📄 Create a New Product

Contracts

Contracts are one of the offerings unique to Rillet, and they’re designed to streamline your billing processes by providing a way to collect and automatically send multiple recurring invoices from one location.

Think of it this way: If you use another system, but need to bill a customer monthly for a year-long subscription, you’d need to create a new invoice from scratch every month for that monthly amount. With Rillet, you can simplify this process by creating one yearly contract with a set of 12 monthly invoices. Those invoices will then be sent out automatically to your customer every month, without any additional work on your end.

The Contracts section is where you can add and manage all your contracts. To learn more about adding and editing contracts, read this article: 📄 Add a New Customer to Rillet

Note

In order to set up a contract, you will need to first set up its corresponding customer and product in the previous two screens.

Invoices

The Invoices section is where you’ll be able to view a list of all your invoices, both billed and unbilled. You’ll see each invoice tagged to a corresponding customer, which you added in the previous Customers screen.

Credit Memos

If you’re unfamiliar with credit memos, think of them as a way to credit your customers with money that will then be deducted from the amount they owe you. For example, if they signed a yearly contract for $12,000, but you later decide to offer them a free month of service, then you will create a credit memo for $1,000 on this screen. Now, the invoice or contract record will show they only owe $11,000.