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The Accounting & Banking module features many accounting functions. This module will give you access to the following features:

  • Accounts Receivable & Payable
    • Complete audit trail compiled
    • Highly flexible data options allow you to store information on: Customer markets, territories, Regions, Groups, Classes, Warranty classes, Account types (e.g. active, occasional, high volume, etc.)
    • Highly flexible service charge multi-options including: Buying groups, Brokers/salespersons and their marketing area, Statement cycles e.g. for selected customers generate statements for a specific cycle (e.g. 30 day cycle), and Automatic credit checks
  • Customer Profile
    • Allows you to identify and store a customer’s trading currency, credit limits, credit types, credit limits per order, internal credit rating and next review date
    • PRO$IT allows you to take the balance forward or open item approaches.
    • PRO$IT also allows you to put statements on hold, specify statement printing cycle.
    • You are able to completely define and control customer pricing. Multi price levels are supported, as are separate business terms for each customer.
    • You are able to control the grouping of customers, e.g. sales market, territory, credit ratings, distributor, manufacturer, retailer, selling price groupings etc.
    • You are able to link your customers to a Cooperative Marketing Assistance (CMA) vendor programs
    • Supports links such as customer to a warehouses), sales person/broker, percentage commissions
    • Permits multi-vendor code as used by customer
    • View payment history and on-order amounts
  • Invoicing & Payments History
    • Permits manual invoices, manual credit notes, debit memo or debit note plus multiple detail lines
    • Can apply funds from checks, credit notes or bank deposits to one or multiple outstanding invoices.
    • All unpaid invoices are displayed immediately and automatically.
    • Allows you to accept multiple advance payments
    • Fully supports partial payments with options such as write off difference, apply a discount or apply a CMA (Cooperative Marketing Assistance) credit with reference to the appropriate vendor
    • Calculate cash flow projections with aging interval probability settings for Accounts Receivable past due collections
    • Complete Audit Trail of all transactions and adjustments
    • Provides automatic reversal of deposits due to non-sufficient funds.
  • Actual Costs & Invoicing
    • Actual costs are all linked to a job number, phase, task and operation as well as division, branch and center codes. User-defined non-chargeable codes allow for accountability differentiation
    • Actual labor cost is assigned by employee and skill code. Allow for actual and billing hours per type (normal/over time etc.)
    • Actual material cost is captured by item number and quantities as well as billing quantities. Item cost and detail is linked to the Inventory module but can be overridden. More on Inventory Items
    • Actual equipment cost is captured by hours and billing hours with their respective rates
    • Actual sub-contractor cost is captured by user-defined units of measure and rates per unit
    • Invoice selectively on actual costs by selection of date range, phases, tasks, operations, classes and class codes to be included on invoice
    • “Cost“ may be defined as direct only, direct plus overhead, or direct plus overhead plus markup, etc, and is specific for each class line item
    • No period-end closing procedures are required. Past and future period posting is possible, which automatically adjusts period and/or year end balances in actual and budget ledgers
    • “The costing module produces a “work-in-process estimate” report. This report generates an editable work-in-progress amount which is the basis for a period-end journal entry and next period reversing entry. No posting from W.I.P to Finished Goods or other GL accounts are necessary

Other Applications

The following applications are designed to work hand-in-hand with Accounting & Banking:

"Accounting & Banking" is part of the PRO$IT Business Suite line of products, developed by RCI.