Accounts Payable Features
A robust accounts payable module is included as a standard part of SpeedyPOS PLUS' integrated accounting. Keeping tabs of your outstanding invoices with suppliers shouldn't be complicated, so SpeedyPOS PLUS makes it easy.
Payables
Posting vendor bills is easy. For example, when you receive
inventory, the total amount of the purchase is posted
to just one ledger number. The inventory being received
is listed and detailed in the purchase order module, so
there is no need to duplicate this information.
If you negotiate payments in installments such as 3 equal payments,
SpeedyPOS will track those distributed due dates, remind you when
you need to pay the bill, and how much to pay. In Canada, Australia
or any other country dealing with the GST or VAT taxes, the input
tax credits are entered on the bill. (These
are taxes that you pay, but can get back from the government).
The system warns you if you forget to enter the tax amounts.
While entering accounts payable bills, the prices on the
original purchase order can easily be cross-referenced
to ensure they are correct and that you have received
the goods.
Buying Group Support
SpeedyPOS PLUS fully supports buying groups, where you can order from a supplier but pay the buying group. When you use the buying groups feature, you'll be able to report on all the purchases from a given supplier, even if you don't owe them any money, and be able to look at the buying group from a financial point of view to see what you owe.
You can use this capability if you purchase goods with your credit card. In this case you buy from a supplier but pay your credit card company.
You can use this technology
if you purchase goods with your credit card. There, you buy from a
supplier but pay Visa, Mastercard or American Express.
Writing Checks
If you are entering information from a previously handwritten check,
you can do that without having to print them. Incredibly, many other
systems force you to print the checks, regardless. After creating
a check, you can choose to post-and-pay it, or simply batch for later
payment. This lets you spend some time setting up the checks. Once
you are ready, you can load the checks into the printer and then print
and post the batch at one time.
Time Payments
- Paying Over Several Months
In some cases, you may get a large shipment of goods from a supplier
and be allowed to pay in thirds, one month at a time. SpeedyPOS will
allow you to enter the time payment plan, with the payment distributed
up to ten months. This information is used with the cash requirement
report to determine which bills have to be paid.
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