ESC's Receivables module comes in many forms depending on your license. If you are integrated with a third-party accounting system, you'll have options for the Collection Manager and displaying customer statements. All other functions of the Receivables module deal with your financials and needs to be controlled by your accounting system.
If you are using ESC as a stand-alone software - or are licensed for ESC Accounting - you're menu will contain many more features. In this case, you'll have options for tendering payments and prepayments, cancelling payments and generating statements with finance charges.