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The Accounts Payable system has been designed to enable efficient cash management and tight
Accounts Payable control. The system can be implemented as a stand-alone module or within a fully
integrated accounting system.
The Accounts Payable system will achieve the following
- Cash resource optimisation by using the system to gain maximum advantage of credit facilities.
- Complete flexibility to meet the changing demands of the business environment.
- Increased productivity as a result of this easy to use and fully automated payable function.
- Powerful management control through the extensive use of payable management and reporting facilities.
- Single entry point for data necessary to update the Purchase Orders and Inventory systems.
- Efficient payment methods which will lead to enhanced vendor relations and more favourable credit ratings.
The following profile of features shows the scope, flexibility and power of the Accounts Payable module;
- Open item accounting
Open item accounting is used giving a complete record of cleared, unpaid or partially paid invoices and of all transactions associated with those entries.
- Alpha-numeric invoice numbers
The system also caters for those vendors who use alpha-numeric document numbers.
- Discount opportunity reporting
This report highlights all prompt payment discount opportunities available. It shows the gain or loss incurred by paying on due date, relative to the cost of money. The choice may then be made to take the discount or use the credit terms available.
- Manual or automatic payments
In addition to handling manual payments, the system also processes automatic payments. It pre-selects all invoices due for payment and gives the option to hold or release the selected invoices.
- Six ageing periods
All Accounts Payable transactions are aged into six ageing periods from current to 150 days.
- Credit note control
To aid the cash flow analysis and enhance payable control, credit notes are aged and reverse discount calculated automatically.
- General Ledger integration
Integration of the General ledger and payable functions, enables the direct maintenance of the payable control account.
- Numeric or alphabetic Vendor access
Data may be accessed by account number or alphabetically by vendor name or by a combination of both (alpha-numeric). Account numbers may be cross referenced to vendor names or vendor names referenced to account numbers.
- User defined cross reference
Every transaction can be assigned a meaningful cross reference, which will group similar transactions together.
- Account scanning
The maintenance and enquiry modules incorporate account scanning which enables any account to be found by partial name or number. The account number need not be known before accessing the data.
- Cheque register
The cleared, uncleared and voided status of all cheques and bank transfers is available via screen enquiry or print-out.
- Bank statement reconciliation
A complete bank reconciliation facility and bank analysis by bank transaction type is provided. This also updates the payable ledger with cleared cheques.
- Bank transfers
Allows the outstanding accounts to be paid using bank transfer facilities or by cheque.
- Enquiries and print enquiries
All vendor information, both current and historical, may be viewed on the screen and selected enquiries may be printed.
- Purchase category analysis
User-definable purchase categories provide a 12 month purchase category analysis.
- Vendor masterfile
Vendor masterfile details may be printed.
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