Accounts Payable
A detailed master file is maintained for each supplier with multiple contact names
Supplier terms and discounts are accommodated for both "net" and "next month following" types of payment requirements
Utilizes the "due date" method of invoice payment based on supplier terms.
Due dates are calculated and displayed but may be overridden or changed at any time prior to payment, allowing the user to take full advantage of supplier discounts and terms
Purchase history is maintained on each supplier including year-to-date purchases and discounts, last year purchases and discounts, number of invoices and date of last invoice. All information is kept in the supplier master screen for quick reference
All transactions are held on file until fully paid providing complete tracking of unpaid invoices
Allows partial payment of an invoice and carries the unpaid portion forward automatically
Individual invoices due can be flagged to be bypassed from payment for the current cheque run or placed on hold to be bypassed until it is released
Allows unlimited General Ledger distribution of each invoice to the integrated General Ledger module
Provides one screen for producing an auto cheque run: a Cash Requirement Report for determining the bank balance required for covering the cheques, modification of due dates for postponing payment, partial payment of an invoice, a Cheque Register and automatic cheque writing
Cheque runs are based on the due date for single and multiple bank users. It accommodates an unlimited number of bank accounts based on a bank code with automatic General Ledger distribution for reducing input time
A manual cheque posting screen is available to notify the system that a supplier has paid by hand. All current outstanding invoices are displayed so the operator can easily pin point those that should be posted as "paid" and eliminated. The operator provides the manual cheque date and number.
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