The Purchasing / AP system provides the capability for creating and printing Purchase Orders, Receiving products, Processing Supplier Invoices, Processing and Printing Cheques. The system automatically reconciles quantities ordered on purchase orders to quantities received on packing slips and supplier invoices. This feature facilitates the traditional problems of matching and reconciling three separate sets of Documentation. Features of the system are:
- Supplier creation and maintenance including payment terms, currency, buyer assignment, 1099 terms and the ability to specify a financing supplier. The latter feature allows the system to reconcile PO’s placed with one supplier with invoices received from a financing supplier.
- Ability to set user specified codes on invoices to allow for a predetermined distribution of the invoice to general ledger accounts.
- Creation and maintenance of Purchase Requisitions and associated Purchase Orders, including such features as the ability to bundle specific product items on the PO for situations where the products are not individually purchased and unlimited notes that track date/time and contact for the specific note. Purchase orders may be placed using a different UOM than the stocking UOM.
- Creation and maintenance of receipt packing slips for inventory products both serialized and standard. Support for multiple receipts for a PO and tracking of cumulative receipt quantities for each PO line item. Calculation of landed unit cost including currency, freight and duty when the product is received.
- Creation and maintenance of supplier invoices for inventory and non inventory products with the ability to match the item to received quantities on purchase orders for inventory items. The system maintains cumulative quantities received and invoiced for each PO line thereby eliminating the paperwork matching process. Also maintained is the invoice and PO price for variance tracking at the invoice detail level. Supplier invoices may be created for one shot vendors, they may be placed on hold for payment, and they may be paid individually with a manual cheque.
- The payment processing module allows for the selection of unpaid approved invoices based on either Bank Account, Due date, supplier, pay group or any combination of the above. When the list is presented the operator may select any portion of the list for full or partial payment. Once selected for processing the system creates AP payment vouchers and the user may then print the AP cheques.
- The Cheque Processing module allows the user to select cheques for printing, to void cheques and to reconcile cheques to the bank statement.
- Automatic interface to General Ledger, for invoiced purchases, Receipts that have not yet been Invoiced (Accrued Payables) and cheques issued. These transactions are posted to the various cost of sales/expense accounts, inventory and bank accounts with a full audit trail of all accounting transactions.
The following is a partial list of the available Purchasing / AP reporting capability:
- Accounts payable and payments due reports.
- Payment and purchase history based on either date or supplier or invoice.
- Detailed month end journal reports for purchases and payments.
- Outstanding requisition reports based on supplier and agent responsible for the supplier.
- Detailed back order report by supplier