FEATURES OF ACCOUNTS PAYABLE SYSTEM
* Facilitates entering of opening balances to Creditors Module through excel sheets.
* Creates & maintains an unlimited number of creditors with multiple creditors categories
* Search option facility is available.
* Creates Creditors along with the commercial information.
* Journal entry facility is included in Creditor Module.
* Maintains Active and Inactive Creditors database.
* Integration with General Ledger system.
* Maintains all transactions with the Auto or Manual Numbering System.
* Accepts advance payment: ability to allocate advances against respective purchase invoices and advance refunds.
* Part settlement of invoices & credit notes.
* Creditors module is integrated with other core modules such as General Ledger and Inventory.
* Maintains a comprehensive history of source documents such as, credit/debit notes, advances, allocations, payments.
* Screen review of due invoices.
* Manual or automatic assignment of cheque numbers:
Cheque numbers for different banks can be user defined and the system automatically updates the sequence of the invoice nos.
* Automatically assigns voucher numbers.
* Running Total of Creditors' balance:
Each supplier's online balance is maintained.
* Checks for duplicated cheque numbers.
* Pay multiple invoices with one cheque.
* Prompts if there are excessive payment delays.
* Assign payment priority by vendor.
* Automatically prompts the generation of payment vouchers once credit period is reached:
When invoices are posted after exceeding the credit period, the system prompts the user to immediately generate vouchers.
* Payment allocation - ( FIFO or Manually ):
Payments can be set off against invoices or credit notes using either of two methods. That is the user can decide which invoice to settle from the outstanding list, or if automatic set-off is selected the payment amount is deducted from the oldest invoice first.
* Track unallocated or unsettled payments:
Lists all outstanding invoices & credit notes.
* Payment voucher generation & cheque printing for different banks:
vouchers are raised for payments to be made & the cheque is printed for the voucher.
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