The Receivables Management module in Interact SSAS is designed to handle financial receivables unrelated to regular Social Security Contribution Payments. It provides a structured invoicing system for managing payments due from individuals and employers for services such as student loan payments, overpaid benefit refunds, legal fees, and other non-contribution obligations. The module seamlessly integrates with the Cashier and Payment Management system, ensuring accurate tracking and processing of all receivables.

Features and Processes

Structured Invoicing System

• Enables the creation of invoices for various services and obligations.
• Supports both one-time and recurring invoices.
• Automatically tracks payment deadlines and outstanding balances.

Types of Receivables Managed

• Legal Fees: Payments for legal actions initiated by SSA.
• Late Fees: Penalties for overdue payments.
• Arrears Payments: Separate from regular contributions, handled as debt agreements.
• Statutory Interest: Interest payments on delayed obligations.
• Student Loans: Repayments managed through invoicing.
• Redundancy Benefit Debts: Recovery of benefits paid due to redundancy.
• Staff Advances: Repayment tracking for staff loans or advances.
• Registration Card Replacement: Fees for lost or damaged social security ID cards.
• Investment Dividends: Tracking of dividends from SSA-managed investments.
• Refund of Overpaid Benefits: Processing repayments for erroneously overpaid benefits.

Customer and Invoice Definitions

• Customer Types:
  • Individuals: Those who owe payments unrelated to contributions.
  • Employers: Those with financial obligations resulting from contribution filings or other transactions.
• Invoices:
  • Records financial obligations owed to the SSA.
  • Can be linked to contribution filings if configured.
• Invoice Items:
  • Specifies the purpose of the invoice (e.g., student loans, legal fees).

Receivables Management Workflow

Step 1: Invoice Generation

• Users generate invoices for individuals or employers.
• Invoice details include invoice items, payment terms, amounts, and due dates.
• System supports both manual and automated invoice creation.

Step 2: Invoice Review and Approval

• Invoices undergo an approval workflow before being issued.
• Approval workflow can be skipped based on settings.
• Review stages can be configured with multiple approval levels.
• Approved invoices are posted and become payable.

Step 3: Payment Processing

• Payments are recorded through the Cashier and Payment Management module.
• Supports multiple payment methods (cash, bank transfer, check, credit card).
• Payments can be full or partial, with outstanding balances tracked.

Step 4: Receivables Tracking and Reporting

• Monitors outstanding payments and overdue invoices.
• Configurable alerts notify users of pending obligations.
• Generates financial reports for auditing and reconciliation.

Step 5: Invoice Adjustments and Cancellations

• Users can modify or cancel invoices under specific conditions.
• Partial payments prevent invoice cancellations.
• System logs all changes for audit purposes.

Receivables Setup and Configuration

• General Setup:
  • Defines invoice numbering formats and recurring payment cycles.
  • Sets penalty interest rates for late payments.
  • Configures customer identification methods (SSN or registration number).
• Review and Approval Workflow:
  • Assigns roles for invoice review and approval (Manager, Supervisor, Auditor).
  • Determines mandatory vs. optional review steps.
• Integration with Contribution Filing:
  • Option to auto-generate invoices for contribution filings if enabled.
• Payment Terms and Interest Rates:
  • Defines payment frequency (monthly, quarterly, annual).
  • Sets interest rates for overdue payments.

Compliance and Security

• Audit Trails: Tracks all invoice activities for transparency.
• Role-Based Access: Ensures only authorized personnel can modify invoices.
• Secure Payment Processing: Integrates with SSA financial systems to protect transaction data.

Integration with Other Modules

• Cashier and Payment Management: Handles payment collections and reconciliation.
• Contribution Filing: Auto-generates invoices for contribution-related receivables.
• Legal Case Management: Links invoices to legal actions for overdue payments.

The Receivables Management module in Interact SSAS provides a comprehensive solution for tracking and managing financial obligations beyond regular social security contributions. With structured invoicing, automated tracking, and seamless payment integration, this module ensures accuracy, efficiency, and compliance in handling receivables for the Social Security Administration.

 Receivables Management – Details and Screenshots

Interact SSAS Receivables Management is used to manage receivables for payments that are not related to the regular Social Security Contribution Payments made by Employers, Self-Employed and Voluntary Contributors.

These separate Receivables cover items such as Student Loans Payments, Refunds of Overpaid Benefits, Social Security ID Card Replacement Fees, etc.

The module is integrated with the Cashier and Payment Management Module.

The basis for this module is an “Invoice”, which defines the service or item to be paid for and when the payment is due. Once the Invoice is raised for a specific service or item to a specific customer, then the customer needs to pay the amount stated on the invoice. The invoice can be a one-time payment invoice, or a recurring payment invoice. Once the invoice is raised and posted, then the user, using the Cashier and Payment Management, will be able to see the invoice and receive the payment against the invoice.

Invoices for specific services and customers can be created any time.

Some of the payments that will be covered through invoicing include:

• Payment of legal fees
• Payment of late fees
• Payment of arrears (arrears are paid separate and apart from regular contributions as part of debt agreements)
• Payment of statutory interest
• Payment of student loans
• Payment of redundancy benefit debts
• Payment of staff advances
• Payment of replacement for registration card
• Payment of investment dividends from investments
• Refund of Overpaid Benefits

Definition

Customer

A Customer defined in an invoice can be:

1. An Individual who owes money to the Social Security Administration, or
2. an Employer who Filed Social Security Contributions, and owes payment to the Social Security as a result of Filing Contributions.

Invoice

An Invoice is used to record an IOU by an individual or employer for a commitment to be paid to the social security administration. For an Individual, the invoice is for payment commitments that are non- social security contribution commitments, while for Employers, the invoice is the result of Contributions Filing. The invoice for Contribution Filing is not required but can be used if so desired.

Invoice Item

The Invoice Item is used to define the purpose of the invoice as an example, Student Loan. The Invoice Item can be converted to a Payment Type, and displayed as Payment Type in the Payment form. An invoice item can be linked to a Contribution Filing item.

Framework

The Receivables Management Frame is based on Invoicing a Customer for a specific Service or Item. A Customer can be an Individual or an Employer.

Receivables Management is primarily used for Payments that are outside the Social Security Contribution payments. However, if it is linked to the Contribution Filing, the system will automatically create an invoice for each Contribution Filing.

An invoice can have multiple payments.

Cancelling of Invoices can be used to Cancel an existing invoice. Note that an Invoice that is partially paid cannot be canceled. Includes