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ERP- Finance, Accounts Payable

Supplier Accounts

  • 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.

Invoices

  • Give each supplier’s invoice an internal reference number for additional identification.
  • Store a memorandum for each invoice or credit note.

Payments

  • Store a memorandum for each cash transaction.

Payment Terms

  • Define your own standard payment terms.

Coding Invoices

  • 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.

Allocating Cash

  • 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.

Journals

  • Enter batches of journals to make adjustments or to transfer amounts between accounts and record narrative giving a reason for the journal.

Period End

  • Period end routines ensure that the full suite of audit trails is printed before closing the period.

Reporting

  • 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.

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