Ledger Postings
Invoices, credits and journal adjustments are entered in batch mode into a work file, whilst manual cash payment entries update the ledger immediately. Invoices and credit notes entered via the Crown Purchase Invoice Register module are posted into the purchase ledger work files automatically and can be posted on operator acceptance when the PIR batch is created. Supplier invoices may be scanned into the system so an image of the original invoice may be viewed at any point in the future.
Recent Actions
A recent action screen which shows last invoice date, last payment date and an amendable next payment promised date is easily available throughout the system.
Automatic Payments
A facility for automatic payments will produce a list of accounts for which payments are due. If undisturbed, this schedule will produce cheques, credit transfers (or BACS transactions) along with corresponding remittance advice notes to settle the due balances. Individual payments and suppliers can be blocked in the event of query or dispute by amending the payments schedule or the supplier's master details depending upon the reason for holding payment.
Automatic payments are posted to both purchase and nominal ledgers with no further intervention from the operator.
Available discounts are taken and missed discounts are highlighted with the facility to manually override the automatic discounts.
Manual Payments
For a less structured approach to supplier payments, cash may be posted manually on to the suppliers account. Invoices to be cleared are selected on screen and full invoice detail is available to assist correct matching.
Allocated Cash
Facilities to post manual payments "on account" allow the user to enter cash without identifying which invoices are being settled. Subsequently, the cash may be allocated through a wide variety of options against any one or a number of invoices.
Supplier Communications
Remittance advices may be sent to suppliers automatically via e-mail or fax or processed in the traditional hard-copy form.
Bank Reconciliation / Cash book
All cash postings raised from within the purchase ledger are included in the bank reconciliation and cash book module if implemented. This allows full traceability of payments vs. invoices to be achieved.
History
Cleared transactions are removed from the active ledger into purchase history, retaining full details on each transaction until they are completely removed from the system. |
Reports
All reports expected from a purchase ledger are available including aged creditors lists, account statements, outstanding and overdue invoices lists. Turnover, inactive and credit suppliers reports are also available.
Supplier Account History
Full supplier financial account information is held for any selected length of time. A supplier’s balance information and aged credit may be viewed for any historical period. Graphs may be produced for any of this information e.g. supplier balance, average payment days.
Enquiries
The facility to drill down on any transaction allows the operator to determine where the postings were sent in the nominal ledger and see what the invoice was for or to view which transactions were cleared by selected cash transaction or cheque numbers. Further drilling into the PIR or viewing a scanned invoice ensure full on-screen information to deal with any supplier query. With insufficient information provided by a supplier, all invoices can be searched for a specific value or supplier invoice number to help locate the correct information.
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