- Accounts can either retain all transactions or bring forward only the balance at each period end.
- Record full details for each supplier, including telephone, e-mail, web and fax numbers, carrier, delivery method, and full contact details.
- Assign each supplier to groups.
- Store memorandum information about each supplier.
- Supplier specific defaults and codes are used within Purchase order processing, and to maintain relationships for multiple supplier accounts, including Factor accounts.
- Supplier analysis codes can be automatically defaulted to transactional information, and so be immediately available for any reporting requirements.
- Negotiate separate payment terms for individual suppliers.
- Give each supplier’s invoice an internal reference number for additional identification.
- Store a memorandum for each invoice or credit note.
- Store a memorandum for each cash transaction.
- Define your own standard payment terms.
- Apportion expense from a single invoice line to one or more General Ledger accounts.
- Handle multi-period processing by recording invoices and credit notes up to two years in advance.
- Invoice registration can be carried out individually or in batch and tracked around the organization for subsequent authorisation and approval.
- Allocate a cash item to multiple invoices, a single invoice or part of an invoice.
- Cross-refer invoices to their related cash items (and vice versa).
Send letters to your suppliers
- For example, to inform them of changes in your purchasing procedures.
Record Cash Advcance
- System supports processing of advances and caters for invoices or expense claims to be reconciled to these advances.
Pay your suppliers
- For each supplier, choose to pay either individual invoices only or the complete account.
- Make sure that invoices are approved before being posted to the Accounts Payable and before being paid.
- Withhold disputed invoices from payment and identify each invoice with a code denoting the reason for the dispute.
- Reschedule payments to match your cash flow.
- Pay suppliers by cheque, credit transfer, commercial papers or PDC.
- Send payments to a factoring agent if a supplier uses one.
- Make cash or cheque advances.
- Print remittance advices to inform suppliers which items you are paying.
- Make retentions from proposed payments.
- Create and manage a proposed payment list before generating the payment and posting automatically
- Manage multiple payment lists.
- Record cash payments for future periods as well as for the current period.
- Enter batches of journals to make adjustments or to transfer amounts between accounts and record narrative giving a reason for the journal.
- Period end routines ensure that the full suite of audit trails is printed before closing the period.
- Obtain a full analysis of unrealised profit and loss on foreign currency transactions.
- Obtain accurate forecasts of Cash commitments (aged creditors analysis) & Planned payments by commercial papers
- System caters for full invoice auditing including checking for duplication.