Invoice entry
Invoices are entered into the invoice register immediately upon receipt. Full nominal coding information is entered at this stage for those systems with integrated nominal ledgers. Simple look-up tables help the operator to locate suppliers and nominal codes with ease. Stringent validation is performed on the invoice and line item totals. Invoice details may be corrected or amended at any time after their entry or to the system prior to approval.
VAT
VAT information is stored separately and forms part of the VAT analysis, allowing VAT to be reclaimed from the time the invoice is received rather than waiting until the invoice is posted to the purchase ledger. The positive impact on the cash flow can be quite remarkable.
Enquiries
Invoices within the purchase invoice register may be enquired upon at any point. Invoices are easily located via the register number, supplier account, short name, or word look-up tables. Full details of each invoice line may be seen, including nominal coding information and the goods received note number, if appropriate. Window enquiries into the purchase ledger and purchase history of invoices for the supplier provide the complete picture for the credit controller. Similarly window enquiries into the invoice register are available from the purchase ledger so that all invoices received but not approved can easily be seen and queries dealt with.
Invoice Approval
Once invoices have been received back from managers as approved for payment, it is a simple task to enter the initials of the approving manager and the date of approval against each invoice. This information remains with the invoice during its lifetime in the purchase ledger and in purchase history until it is deleted from the Crown system. All approved invoices are transferred in a batch through to the purchase ledger for subsequent payment at an appropriate time. |
