Accounts Payable

The Creditors module has been designed to minimise the keystrokes required by the operator. Together with the default facility this allows for maximum efficiency on data input. It is important to be able to easily reconcile your Creditor accounts. Arrow has open item accounts for Creditors as well as the Debtors module. This will allow you to keep control of each invoice received and paid.

Creditors Module Features Include:-

• Creditors may be set up as Balance Forward or Open Item accounts.
• Prescribed payments are allowed for in the system.
• Select Creditor by code number or alpha code.
• Analysis of Creditors by Supplier type/Expense code.
• Exception reporting for management reports.
• System allows for automatic, manual and electronic payments.
• Automatic payments include either cheque or electronic funds transfer.
• Automatic cheque printing facility.
• Screen inquiry of Creditor accounts by transaction type eg. invoices, purchase orders.
• System allows operator to view Current, Old, Future or All transactions.
• Future invoices and payments may be processed.
• User defined trading terms.
• Ability to run stand alone or integrated with other ledgers.
• Ability to create new Creditor at time of entering invoice.
• Ability to place invoices on hold, partial or full.
• Mark-up pricing for stock lines allows calculation of selling price from cost.
• Ability to enter same invoice numbers, for example if two different creditors issues an invoice with the same number.

Creditors Reports Include:-

• Summary trail balance.
• Detailed trial balance/optionally includes hold values.
• Account Ledger.
• Transaction/Tax listing.
• Analysis of purchases by Creditor.
• Analysis of purchases by supplier type/expense code.
• Exception reporting for management reports.
• Prescribed payments deductions listing.
• Prescribed payments deductions forms.
• Name and address listing.
• Creditors labels.
• Payment by due date report.
• Forward payments list.

How The Creditors Module Helps:-

• Payments will automatically adjust the Creditors accounts, so an accurate outstanding creditor balance is always known.
• Provides summary and detailed trial balances, so you can monitor the age of your suppliers debt. Allowing you to manage it.
• Allows for automatic payments by the due date, thereby ensuring that any prompt payment discounts are taken.
• Helps analyse Creditors by Creditor and supplier codes, allowing you to review who your important suppliers are.
• Automatic cheque generation, to ensure accurate balances are printed onto the cheques.
• Generates automatically a Prescribed Payments deduction listing.
• Helps with cash planning, allowing you to print a forwards payment report, based on due date on creditors invoices.