Supplier Accounts

• Supplier accounts maybe up to seven alphanumeric characters and act as the unique identifier for the account. Full search facilities allow accounts to be identified by code, name, account type or currency.
• Any number of addresses and contacts can be kept per account with separate addresses for payments and purchase ordering. Free format notes and actions can be held for each account.
• Two classification codes can be defined for an account - type and priority which can be used to filter suppliers for payment and reporting.
• Each account can be allocated a default GL analysis for posting purposes.
• Full financial statistics including period balances, average days to pay, total credit claims, unallocated cash, last invoice details, high balance etc. are held per company against the account.

Invoice Logging and Approval

Invoices can be logged to await approval prior to posting. All details other than GL analysis can be recorded when invoices are initially logged including the approver ID.

Lists of invoices can be printed by approver or company. Each logged invoice is uniquely numbered and a full audit trail is maintained for printing.

Checks are made to insure no duplicate invoice entry.

Invoices can be selected for approval, rejection or deletion from within invoice batch entry.

Transaction Entry

Transaction entry is by batch with optional batch control totals. Batches are single company and currency.

Transaction types include:

• Invoices
• Credit Notes
• Payments

Credit and Debit Journals:

• Reversals - for voided cheques or incorrectly entered invoices
• Allocation Batches
• General Ledger Analysis per transaction is unlimited.
• Allocation of credit transactions can be immediate or deferred. Transactions for allocation can be exclusive or inclusive against lists of debit or debit and credit transactions. Partial allocation and over-allocation are allowed.

Foreign currency transactions are entered in single currency batches with the list of valid accounts automatically filtered to the selected currency. Trading, and base values and the exchange rate can be amended if required.

Periods and Ageing

Transactions may be posted into the current period and the next period. If the General Ledger is in use, all transactions later than the current period defined in the General Ledger will be accepted.

The aging analysis of transactions can be based on the transaction period or on days from the invoice date.

Multi-Company Processing

The Creditors can operate in single or multi-company mode. When multi-companies are in use, separate customer balances and ledger control totals are held for each company. Separate General Ledger control accounts can be specified for each company.

A single invoice can be allocated across a number of companies for GL analysis, if required.

Audit and Security

The daybook prints details of all batches since the last time it was run. It also lists deleted and unposted batches. The daybook can be run as required depending on transaction volumes. A "session" cannot be closed without a print of the session's daybook.

Strict control is maintained on the session and period regimes to ensure auditable procedures.

Transaction History

Closed transactions can be purged at end-of-period or kept as archived transactions for all or key customers. Allocation details can be kept for archived transactions.

History is kept for a user-defined period, up to 99 trading periods.

Multi-Currency

A table of exchange rates is maintained and can be updated at any time. Transactions for accounts operating in foreign currencies are converted to the base currency at data entry using the prevailing exchange rate.

Exchange Gain or Loss Calculations

Unrealised exchange gain/losses calculated on open foreign currency transactions are reported on the trial balance at end-of-period.

A realised exchange gain/loss transaction is generated at each allocation of a credit transaction against a debit transaction.

Foreign currency transactions are not purged or archived until the foreign currency balance and the base currency balance of the transaction is zero. To write-off an exchange gain or loss a journal with zero foreign currency value but non-zero base currency value can be used to reduce the base currency value of the outstanding transaction.

This journal should be distributed to the GL exchange gain or loss account.

Enquiries

Enquiries can be made against any account. Accounts can be displayed by account code, name, type, currency and the display can be paged through in any of these sequences.

The start enquiry shows balances (including open ie. unallocated credits), amount and date of last payment and average days to pay. In addition further displays may be selected from the following options:

• Bank Details
• Addresses
• Contacts
• Aged Balances
• Notes
• Consolidated balances
• Transactions
• Turnover

Reporting

Standard reports in addition to the daybook include:

• Supplier Account Listing
• Aged Transactions Report
• Open Transaction Report
• Trial Balance Report
• Period Postings Report
• Tax Analysis Report (if required)
• GL Analysis Report
• Logged Invoice Approval Details Report
• Approver
• Company Totals

Payment Procedures

Payment procedures vary depending on the reason for the payment. The payment method is specified by supplier and can be cheque, bank transfer or electronic funds transfer.

Normal payments can be managed on a planned basis with autopayments:

• Autopayments suggests items to be paid from a range of selected suppliers and transactions
• Payment runs are for single currencies so payments are made in the supplier's currency.
• Every payment run is uniquely numbered so that they can be reviewed and amended and there can be several provisional selections active at one-time.
• Suggested payments can be reviewed, invoices held, partial payments authorised.
• Proposed payments can be printed for distribution to management and subsequent approval.
• The payment details are produced on the appropriate stationery or as a file of transactions
• Payments are posted and allocated against the selected transactions.

Databases

Global 3000 Creditors Ledger data can be held in a Btrieve format or (to be announced soon) SQL format database for compatibility with industry-standard office automation and data analysis tools.