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The Purchase Ledger module provides key features from the Financial Suite, such as multi currency and proper Open Period Accounting. The suite also benefits from all of the System-wide features (shown on the left menu), such as easy Data Importing, Email and Fax integration.
Supplier Details - Detailed supplier information can be held, including unlimited numbers of addresses and contacts as part of the CRM module, as well as user-definable supplier profiles for procurement purposes.
Auto Payments - Automatic Payments are handled by a dedicated batch processing system. The system allows user-definable criteria to be utilized to identify transactions and suppliers who are due for payment. Options control the handling of bank accounts, settlement discounts and exchange rates used.
Transaction Handling - The de Facto S5 Purchase Ledger provides all the facilities for transaction entries you’d expect, including invoices, credits and adjustments. In common with all Financial Suite transactions, journals can use quantities in their entries. VAT entries are also catered for directly from journals as either ‘net + VAT’, or ‘gross - VAT’. VAT inputs and outputs are also definable.
Contra Accounting - Contra Accounting is provided between the purchase and sales ledgers, as is a useful back-to-back facility for converting a sales invoice into a purchase invoice including its standard margin facilities.
Self Billing - The Purchase Ledger also supports self-billing invoice procedures, either directly, or via the Purchase Order Processing module.
Goods Received Notes - Integration with the Purchase Order Processing module provides automatic reconciliation of ‘goods received awaiting invoices’ accrual accounts. Prices variances are also automatically handled.