Creditors Ledger

Product Overview

This module controls the Accounts Payable functions for an organisation. Purchase invoices may be entered directly into the TABS Creditors Ledger, or via other TABS modules (i.e. Stock Control, Time and Materials, etc), with optional allocations to the TABS General Ledger. Cash payments are performed in the TABS Cashbook module.

The system maintains transactions in an Open-item format (i.e. transactions are retained in detail until fully accounted for). Once an invoice has been completely accounted for, details are transferred to History. Comprehensive enquiry and reporting facilities (on outstanding and historical transactions), allows timely and accurate reporting of the accounts payable position.

Software Features

  • GST/VAT capable.
  • Online and interactive, meaning all necessary areas of the system are updated as soon as a transaction has been completed.
  • Accrual facilities, allowing suppliers invoices (and payments) to be entered into the next month without having to close the current month.
  • Supplier Invoice transactions are retained as active (outstanding) on the system until they are ‘completed’ by means of either cash payment or invoice adjustment (credit).
  • Completed transactions are transferred to History, where they may be accessed for enquiry or reporting purposes.
  • Audit trails may be produced automatically at the completion of data entry, or printed at a later date.
  • Ability to scroll, select or create Supplier accounts during transaction entry sessions.
  • Account balances may be dissected into 6 age-breaks (i.e. current, 30, 60, 90, 120, 150+ days)
  • Enquiry facilities provide access to outstanding and historical transactions. Balance Status information ensures the sub-ledger agrees with the General Ledger control account. Finally, the General Ledger allocation may be viewed for each transaction.
  • User definable analysis types facilitate comprehensive purchase reporting.
  • Diagnostic tools to ensure the Creditors Ledger balances are supported by transactions, and agrees with the General Ledger Trade Creditors control account (if integrated with the General Ledger).
  • The ability to operate individual trading terms for each Creditor.
  • Remittance Advice and/or cheque printing facilities via the TABS Cashbook module.
  • Ability to enter, print and maintain Purchase Orders, monitoring the receipt each item, including partial receipts.
  • Optionally linked to the TABS General Ledger, purchase transactions may be entered directly into the Creditors module or via other related TABS modules (i.e. Stock Control)
  • All cash payment transactions are processed through the TABS Cashbook.
  • Electronic Funds Transfer (EFT) payments may be generated for selected suppliers and passed to online banking software packages.
  • Purchase Orders may be raised and controlled through the system.
  • Supplier’s Invoices may be entered with expense information optionally written directly into the TABS General Ledger. GST calculations are performed and GST transactions written (where applicable).
  • Foreign Currency transactions are supported, together with Foreign Currency exchange controls.

Standard Reporting Available

    Reports from the TABS Creditors Ledger include:
  • Supplier Balances (Aged Trial Balance)
  • Detailed Transaction Listing
  • Supplier Names and Addresses
  • Remittance Advises
  • Supplier Labels
  • Purchase History/Analysis
  • Purchase Orders
  • Foreign Currency
  • Foreign Currency – Exchange Control Allocations
  • Foreign Currency – Exceptions

ADHOC and ODBC Reporting Capabilities

Adhoc reporting tools (including ODBC drivers) allows information stored in the TABS Debtors Ledger to be accessed directly.

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