ProStix Smartstore Training Manual - Accounts Payable Sterland Computing

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1 ProStix Smartstore Training Manual - Accounts Payable

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3 Contents 3 Table of Contents Accounts Payable 4 1 Introduction to... Accounts Payable 4 2 Accounts Payable... Terminology 6 3 PreRequisites Creating/Maintaining... Suppliers 10 Creating a New... Supplier 10 Maintaining a... Supplier 11 Changing the... Supplier Code 13 Grouping Suppliers Expense Invoice... Entry 15 6 Maintaining... Invoices & Credit Notes 17 7 Payment Selection Selecting Invoices... for Payment - Batch Mode 19 Selecting Invoices... for Payment - Manual Mode 21 Modifying Invoice... Selections 22 Confirming Invoice... Selections 23 8 Paying Accounts Printing Cheques... &/or Remittance Advices 24 Allocating Cheque... Numbers 25 Paying Suppliers... by Direct Credit 26 Cancelling a Payment Prepaying a Supplier... before Receipt of Goods 28 9 Supplier Enquiry Payment Enquiry Reprinting a... Remittance Advice Printing Trial... Balance 34 3

4 4 ProStix Smartstore Training Manual - Accounts Payable 1 Introduction to Accounts Payable The ProStix Accounts Payable module enables you to manage all your dealings with your suppliers/creditors. It is fully integrated to the rest of ProStix through to the General Ledger and is closely integrated with the Purchasing & Receipting module which is primarily used for stock purchases. As well as the standard functionality, there are also some optional modules that extend the software in particular areas. Please talk to your Sterland Computing representative to see if any of these modules would be of benefit to you in your business. The following diagram illustrates the functions normally carried out within the Accounts Payable department and are therefore covered within this training document. Accounts Payable Module Suppliers - Stock & Expense Invoices Suppliers are companies who provide you with either stock to on-sell to your own customers, or goods and services to use within your own business. The main difference between these two types is not so much in their setup, but rather in their use. For suppliers who provide stock, you generally go through the processes of raising a

5 Accounts Payable 5 purchase order for the stock, receipting the stock at goods-in and then Creditor's Invoice Approval which matches the supplier's invoice to the stock receipt. The payment can then be automatically selected in line with the payment terms and flagged for payment via cheque or direct credit. For suppliers who supply your own business, most customers process the ordering and receipting outside of the ProStix purchasing system and then use the Accounts Payable Transaction Processing batch facility to process the invoices and create the payments. Please note that stock invoices should not be processed through the Accounts Payable batch processing method. This is because when the stock receipt is processed, General Ledger postings are made to the stock and purchases clearing accounts. If a stock invoice is processed through the Accounts Payable batch processing method, then the entry to the purchases clearing account will not be reversed, as it as by the Creditors Invoice Approval process (the other balancing entries are to the trade creditors and GST purchases accounts). The Accounts Payable Clerk: checks that the supplier invoice matches the goods that have been receipted into stock and that the invoice total matches what was expected. keys the invoices into an Invoice Batch through the Accounts Payable module. completes and posts the batch. selects invoices for payment. prints cheques and allocates cheque numbers or processes the payments as Direct Debits.

6 6 ProStix Smartstore Training Manual - Accounts Payable 2 Accounts Payable Terminology Accounts Payable The use of credit with importance being placed on the payment of creditors on time as savings can be made by way of discounts received for prompt payment and buying in bulk as well as the advantage gained by being recognised as a good paying customer. Accounts Payable Control Account Records all liabilities owed, whether they are for trade or non-trade goods and services. The balance of this account is the difference between the liabilities incurred and those that have been paid, and for reconciliation purposes this balance should be equal to the total of all creditors balances. Credit Note Is issued by sellers when goods bought on credit by customers are returned by mutual agreement, or a price adjustment is necessary because of damage, overcharging, short delivery etc. Delivery Docket Contains all of the information found on an invoice usually without the unit and total price information. It is sent in duplicate with the goods to the purchaser, one copy of which is returned signed by the purchaser to the seller to acknowledge the receipt of the goods. Diary Notes A narrative field in Customer and Supplier Maintenance and Enquiry, for the purposes of recording relevant comments about the account. This facility is particularly useful for debt collection activities for recording special circumstances justifying late payment, and or promises of payment. Goods Receipting Acceptance into store of product delivered from a supplier, and the completion of all accompanying documentation. Internal Sale A sale made by one Branch to another or to en internal customer. Sometimes called a Stock Transfer. Invoice A record of the detail of goods sold on credit to individual purchasers, originated by the seller of the goods.

7 Accounts Payable 7 Invoice Approval An electronic signature that indicates to the system that a supplier s invoice and all accompanying documentation are correct. This essentially gives approval for a cheque to be drawn when the invoice time payment terms have been satisfied. Purchase Order Is the official order of an individual or organisation requesting that another organisation supplies specified goods or services and is the basis of a contract. Request For Credit Notification to a supplier that goods are being returned without having been receipted (i.e.: not accepted) due to being faulty, broken etc, or for incorrect charge details. Sales Tax Is a tax imposed at rates varying according to the nature of the goods, levied as a percentage of the sale price of the goods when sold by manufacturers or wholesalers. Settlement Discount Is applied when an account is paid and is conditional upon the buyer paying for goods within a prescribed time. If payment is late, the discount is not allowed. Standard Cost For the current accounting period, stock issued will be charged to the cost of goods sold at a standard rate, regardless of the purchase price. Any variance caused by a different purchase price would be charged to a variance account (purchase gains and losses) which is ultimately charged to profit and loss. This method is used mainly in manufacturing businesses where there is a mix of raw materials incorporated in the end product. Standard Discount Contract A customer-specific contract designed to complement a Price Module or Discount Group. This is designed for pricing of any product that is used by the customer but is either not discounted in the Module, or an extra-special price must be given to meet competition. Statement Provides details in respect of unpaid amounts from the last period, purchases for this period, credit notes issued and payments received.

8 8 ProStix Smartstore Training Manual - Accounts Payable Stock Receipt The processing of a Purchase Order to notify the system of incoming goods which were ordered from a supplier on the specific Purchase Order. Stock Return/Stock Reversal Notification to a supplier that goods are being returned for crediting after having been Goods Receipted. Reversal is the action taken to acknowledge receipt of replacement goods. Supervisor Password A security feature that requires an authorising password from a suitably-empowered senior employee before certain functions can be performed by a 'restricted' user. Supplier Invoice Maintenance Facility for the processing and adjustment payment amounts of suppliers' invoices. Tax Exempt Goods used for specific purposes may not be subject to sales tax by their very nature if, for example, they are raw materials, they are aids to manufacture or they are certain containers for sale with goods. Unit of Measure Classification of how a product is supplied and charged. E.g.: Each, Length, Kg, M3, M2 etc. Volume Break Quantity of a product beyond which the supplier offers an extra discount, e.g. purchasing between 0 and 99 may attract a 5% discount whereas, purchasing between 100 and 999 may attract a discount of 8%. Volume Discount Quantity of a product beyond which a customer receives an extra discount.

9 Accounts Payable 9 3 PreRequisites Before proceeding through this Accounts Payable manual it is recommended that you have completed: ProStix Basics - Character Mode (CHUI) Or ProStix Basics - Graphical Mode (GUI)

10 10 ProStix Smartstore Training Manual - Accounts Payable 4 Creating/Maintaining Suppliers 4.1 Creating a New Supplier In this lesson you will learn how to add new supplier (creditor) records. Suppliers are other businesses that your company purchases stock or supplies from. 'Stock' refers to products purchased for sale to your companies customers. 'Supplies' refers to items used within your own company, e.g. stationery items for the office. Creditors are suppliers who negotiate trading terms with your company where you purchase items on credit. After the items are received into stock, your company is then obliged to pay for them within the trading terms that have been agreed (e.g. 14 days from invoice, or 30 days from statement). 1.From the 'Main Menu' select the options - 'Accounts Payable' - 'Supplier Maintenance' - 'New Supplier'. 2.Key in a Supplier Code and Name. 3.The basic supplier record has now been created but will require more details before it can be used, these details can be added/modified using the options down the side of the screen. 4.Select the Update option to add address and phone details etc. 5.Select the Trading Terms option to enter information such as the number of days credit the supplier is giving you and whether to pay them by cheque or direct credit. 6.Press/Click <F4> when finished maintaining this supplier to leave the program. Review: Understand the terms 'Supplier', 'Creditor', 'Stock', 'Supplies' and 'Trading Terms'. Add supplier records to the Supplier Master File. Update supplier details when they change. Setup the Trading Terms with the suppliers.

11 Accounts Payable Maintaining a Supplier In this lesson you will learn how to maintain supplier (creditor) records. 1.From the 'Main Menu' select the options - 'Accounts Payable' - 'Supplier Maintenance' - and select your supplier. 2.Select the type of supplier data you wish to add/maintain from the options down the side of the screen. See below for guidance as to the type of data held in each option. 3.Press/Click <F4> when finished maintaining this supplier to leave the program. Review: Keep your supplier information up-to-date as it changes. Supplier Details Options Update allows you to add or change the header information that is displayed in the left hand panel of the screen, such as address and contact details. Trading Terms allows you to add or change information such as when you need to pay this supplier, any minimum purchase order amount, pay be cheque or direct credit, etc. Deal Sheet allows you to record less frequently used information about your trading agreement with the supplier, such as settlement discount, advertising subsidies, etc. Delete allows you to delete the supplier if the balance is zero. Multiple Addresses allows you to maintain multiple addresses for the supplier such as the Head Office, various branches and warehouses. Each of these can have a separate e-address for electronically forwarding information, e.g. purchase orders may go to the branches but a consolidated payment goes to the Head Office. Branch Shipping Terms allows you to record information such as default amount and basis of freight for each branch. E-Trading Options controls the electronic trading with this supplier, including such things as Electronic data Interchange and GTIN usage. Create Debtor Account gives you an option to create a debtor account with matching details to the supplier account, for doing contras, and is rarely used. Change Supplier Code allows you to choose a new supplier code which is then changed and then (in a second process) all the transactions are changed. Please see the topic Changing the Supplier Code for more details. Banking Details allows you to maintain banking information for the supplier for Direct Credits, etc.

12 12 ProStix Smartstore Training Manual - Accounts Payable Supplier Comments allows you to add three lines of comments which are displayed when creating purchase orders and in a box on the first screen in Supplier Enquiry. E-Addresses allows you to maintain electronic mail addresses for the supplier in a similar way to those of customer contacts - see Customer E-Addresses.

13 Accounts Payable Changing the Supplier Code In this lesson you will learn how to change a supplier's code. For instance, there may be another supplier with a similar name and you want to change the code to make it less likely to be chosen by accident. 1.From the 'Main Menu' select the options - 'Accounts Payable' - 'Supplier Maintenance' - and select your supplier. 2.From the Side Menu select the option 'Change Supplier Code'. 3.Press/Click <F4> when finished maintaining this supplier to leave the program. Change a supplier code to a new one.

14 14 ProStix Smartstore Training Manual - Accounts Payable 4.4 Grouping Suppliers In this lesson you will learn how to group suppliers so that the groups can then be used for reporting and payment selection. 1.From the 'Main Menu' select options - 'Accounts Payable' - 'Supplier Maintenance' - and select your supplier. 2.From the Side Menu select the option - 'Trading Terms'. 3.You will then see a field labelled 'Supplier Group' where you can key the code for the supplier group if you know it; or press/click <F3> to Search, <Up/Down Arrow> keys to find, then <Enter> to select. Review: Add a supplier into a supplier group.

15 Accounts Payable 15 5 Expense Invoice Entry In this lesson you will learn how to enter an expense invoice received from a creditor that is due to be paid at a later date. This could be either a telephone or electricity bill or an invoice for any expense other than the supply of goods for resale. This invoice will be recorded against the supplier in the Accounts Payable module and will be considered a liability until such time as it is paid. Pre-Requisites: A valid general ledger expense account must exist. 1.From the 'Main Menu' select options - 'Accounts Payable' - 'Transaction Processing' - 'Invoice Entry'. 2.Press/Click <F6> to start a new batch. 3.Enter in the period to post the batch to. The current accounting period will be displayed - press/click <F1> to accept this period or key the appropriate accounting period after consultation with your accountant. 4.Search for and select the supplier whose invoice(s) you wish to process. 5.Process the invoice by keying in the invoice header details and GST amount then allocating the remaining invoice value to the G/L accounts for the expenses. 6.Press/Click <F4> to return to supplier selection when all invoices for the selected supplier have been processed. 7.Select the next supplier to be processed or press/click <F4> to return to the batch header screen if all invoices have been processed. 8.If your batch has the correct total, key in your batch number and mark it as complete. 9.Post your batch and print out the transaction register & general ledger posting summary. 10.Press/Click <F4> to return to the 'Transaction Processing' menu. 11.Credit notes from a supplier are processed in much the same way as invoices except that ProStix will convert the $ amount keyed to a negative amount, effectively reducing the amount owing to the supplier. To create a credit note, select Invoice Entry as above and then from the Current Batches screen, press/click <F8> (New Credit Note) instead of <F6> (New Batch). Review:

16 16 ProStix Smartstore Training Manual - Accounts Payable Do data entry of a batch of supplier (creditor) expense invoices. Enter credit notes for suppliers. Complete and post the batch to update the General Ledger.

17 Accounts Payable 17 6 Maintaining Invoices & Credit Notes In this lesson you will learn how to make alterations to supplier invoices that have already been posted using the Invoice Post program. You can alter some of the data that makes up the invoice and you can also change the payment status code so that invoices are held from payment or selected to be paid. Pre-Requisites: An invoice must have been entered and posted to the General Ledger for this supplier. 1.From the 'Main Menu' select options - 'Accounts Payable' - 'Transaction Processing' - 'Invoice Maintenance'. 2.The next screen will display a list of suppliers to choose from. Select the required supplier by using the <Page Up/Down> and <Arrow> keys or start typing the supplier name to locate them automatically then press <Enter>. 3.The next screen will display a list of unpaid or part-paid invoices for the selected supplier that have been posted using the Invoice Post program. If the invoice you are looking for does not appear on the screen, then press the <Page Up/Down> and <Arrow> keys, or key the invoice number to locate it automatically then press <Enter>. The next screen will display the current payment details for the selected invoice. Status Code: key a valid status code: D = Defer This invoice will be by-passed by the next cheque print run only. Once all the payments for this run have been processed, the program will then change the status code from D to P. P = To Pay The invoice payment selection program will ONLY select invoices to pay with a status code of P. H = Hold This invoice will be by-passed by the invoice payment selection program. The invoice will remain held, and therefore not payable, until the status is manually changed. S = Selected This status code is appended to an invoice once the invoice payment selection program has selected it. A cheque for the invoice will be printed during the next Cheque Print run. Note that the sort order on the browser screen in this program is by status then transaction; so when you change the status to 'selected', the transaction will then be sorted to the bottom of the list. Reason for Hold: key the code that refers to the reason an invoice has been put on

18 18 ProStix Smartstore Training Manual - Accounts Payable hold i.e. if an 'H' appears in the Status Code field. <F3> is available to search on this field if required. These Reason Codes are defined in the Miscellaneous Tables option on the Configuration Menu under System Administration. Payment Amount: key the partial payment amount if a partial payment is to be made for the selected invoice. Held Amount: key the held amount into this field if an amount on the invoice is to be held for payment. Payment Date: key the date to pay the invoice. The invoice payment selection program uses this field. Press <Enter> to by-pass this field. Discount Override %: key the discount percentage to be taken on this invoice. This field assumes two decimal places. If you key a percentage here, do not key an amount in the Discount Amount field. Discount Override $: key the discount $ amount to be taken on this invoice. This field assumes two decimal places. If you key an amount here, do not key a percentage value in the Discount % field. Take Discount: key 'yes' to take the discount regardless of late payment. Branch Code: key the code for the branch that goods on the invoice were delivered to. <F3> is available to search if required. Invoice Date: key the supplier date printed on the invoice. Once you have finished keying the required data, the program will take you back to the previous screen. 4.Continue maintaining any further invoices or press/click <F4> to go back to the 'Invoice Maintenance' menu. Review: Change supplier invoices even though they have been posted to the General Ledger. Change the payment details of supplier invoices. Change the status code of a supplier invoice so it is deferred, held or selected for the next payment run.

19 Accounts Payable 19 7 Payment Selection 7.1 Selecting Invoices for Payment - Batch Mode In this lesson you will learn how to automatically select supplier invoices for payment so that they are included in the next cheque or direct debit payment run. The invoices are selected for payment based on a combination of the invoice date and the supplier trading terms. Pre-Requisites: Invoices must have been entered and posted to the General Ledger (for several suppliers). 1.From the 'Main Menu' select options 'Accounts Payable' - 'Transaction Processing' - 'Payment Selection'. 2.Select the 'Select Payments' option and key in the Due Date (& Payment date) to select all invoices due up to that due date. This is based on combining the invoice date and the supplier trading terms. You can filter the report by supplier group or supplier, so if you have grouped your suppliers by payment terms, e.g. '7 days', '14 days', then you can use that grouping here for example to just select those invoices for suppliers where you will get discount if you pay within 7 days. (Please note there is a flag on the supplier record that can be set so you can still claim the discount even if you are paying late.) You can also filter the selection to only pick up suppliers where there are discounts to make sure these get paid first if there is limited funds available. The total maximum payment amount can also be useful in this instance. The maximum amount refers to the total of the invoices for a supplier, so if you enter $5, here, then all suppliers who have totals due that are under $5,000 will have their invoices selected. There is also a filter to only select suppliers that have payment terms of 'm' (monthly). You can also use the <F9> Select key from this screen to flag a set of non-contiguous suppliers. After pressing/clicking <F9> you are presented with a list of suppliers. Use the <Up/Down Arrow> keys to move to the suppliers you want and press <Space-Bar> to select them. If you select on e in error, then use the <Space-Bar> again to de-select it. When you have finished making your selections, press/click <F1> and you will be presented with a confirmation list. Then either use <F4> to go back or <F1> to proceed. 3. Print out selections to confirm those that are to be paid. If any invoices have previously been selected, either manually or by batch selection, then they will also appear on the selection report. 4. If any are not to be paid, use 'Invoice Maintenance' to deselect single invoices.

20 20 ProStix Smartstore Training Manual - Accounts Payable Review: Do a payment selection run for all suppliers in the system. Filter the payment selection to only pick up suppliers where there are discounts. Filter the payment selection using a total maximum payment. Filter the payment selection to only select suppliers with monthly payment terms. Print a report to confirm payment selections. Manually deselect any invoices that are not to be paid.

21 Accounts Payable Selecting Invoices for Payment - Manual Mode In this lesson you will learn how to manually select individual invoices for payment in the next cheque or direct debit payment run. Pre-Requisites: The invoice must have been entered and posted to the General Ledger for the supplier. 1.From the 'Main Menu' select options - 'Accounts Payable' - 'Transaction Processing' - 'Invoice Maintenance'. 2.Select the appropriate Creditor that you wish to process. 3.Highlight the invoice as listed on the Creditors Statement. 4.If the invoice is to be selected for payment, key 's' and press/click <F1>. If the invoice is to be part paid, key in either a payment amount, or held amount, along with a reason for holding and press/click <F1>. 5.Repeat Step 4 as required. 6.Repeat from Step 2 if required for other Creditors or press/click <F4> if finished with selections. Review: Manually select individual invoices for payment. Manually update invoices that are to be part paid or held.

22 22 ProStix Smartstore Training Manual - Accounts Payable 7.3 Modifying Invoice Selections In this lesson you will learn how to modify invoice selections that have been made by the Batch Mode selection process. Pre-Requisites: Invoices must have been previously selected for payment (for several suppliers). 1.From the 'Main Menu' select options - 'Accounts Payable' - 'Transaction Processing' - 'Payment Selection'. 2.Select the 'Deselect Payments' option and key in the Due Date (& Payment Date) to de-select all invoices due up to that due date. The other filters on the screen may also be used if required. 3.A Payment Deselection report will then print listing the changes from the original Payment Selection report. Review: Do a payment deselection run using various filters.

23 Accounts Payable Confirming Invoice Selections In this lesson you will learn how to produce a report so the current payment selections can be checked prior to actually doing a cheque or direct credit payment run. Pre-Requisites: Invoices must have been previously selected for payment (for several suppliers). 1.From the 'Main Menu' select options - 'Accounts Payable' - 'Transaction Processing' - 'Payment Selection'. 2.Select the 'Print Current Selections' option. 3.Fill out the payment date for the next payment run, leave the other fields as they are. 4.Select the appropriate output option to either print, or fax the report. 5.Press/Click <F4> to return to the 'Transaction Processing' menu. Review: Print a report to check the current payment selections before actually doing the payment run.

24 24 ProStix Smartstore Training Manual - Accounts Payable 8 Paying Accounts 8.1 Printing Cheques &/or Remittance Advices In this lesson you will learn how to do a cheque run. Pre-Requisites: Invoices must have been previously selected for payment 1. From the 'Main Menu' select options - 'Accounts Payable' - 'Transaction Processing' - 'Print Cheques'. 2. Select whether you are using NuVu output or not. 3. Select the company. 4. Select the Supplier Group and Supplier ranges; the date to be printed on the cheques, the Bank Account, the period to post, and whether you want to revalue foreign currency invoices to today's exchange rates. 5.Make sure the cheque stationery and remittance advices are loaded onto the correct printers. 6. Select the appropriate output option. 7. Press/Click <F4> to return to the 'Transaction Processing' menu. Review: Print cheques &/or remittance advices in a payment run.

25 Accounts Payable Allocating Cheque Numbers In this lesson you will learn how to allocate cheque numbers after a cheque run has been performed. Cheque numbers must be allocated before the next cheque run will work. Pre-Requisites: Cheques must have been previously printed in a cheque run. 1. From the 'Main Menu' select options - 'Accounts Payable' - 'Transaction Processing' - 'Allocate Cheque Numbers'. 2. Enter the cheque numbers used or going to be used (if handwriting cheques) taking into consideration the number of cheques displayed at top of window and press/click<f1>. There are three groups of numbers in case of printing errors. So if some cheques get mangled by the printer then you can just allocate the numbers for those ones that are ok and then reprint the cheques that got destroyed and then allocate those numbers. This is more likely to happen if you are using a dot matrix printer than a laser. It is important that the right cheque numbers get allocated to the right payments in the system or it will make bank reconciliation or payment enquiry difficult in the future. 3. Print the cheque summary report. Note: If handwriting cheques they must be written in the order specified on the report. Review: Allocate cheque numbers after a cheque payment run.

26 26 ProStix Smartstore Training Manual - Accounts Payable 8.3 Paying Suppliers by Direct Credit In this lesson you will learn how to pay suppliers by Direct Credit. This method enables you to pay Suppliers electronically; either by sending a file of payment transactions to your bank for payment, or by getting a printout that you can then use to pay them via internet banking. Pre-Requisites: Invoices must have been previously selected for payment 1.From the 'Main Menu' select options - 'Accounts Payable' - 'Transaction Processing' - 'Direct Credit Payments'. 2.Select the company. 3. Select: - the Supplier Group and Supplier ranges, - the date to be printed on the direct credits, - the Bank Account and whether to flag the payments as presented, - the period to post, - whether to pay multiple companies invoices from this bank account, - whether you are using pre-printed forms (no headings to print), - whether to sort and summarise by branch on the remittance, - whether to produce a file copy for electronic submission, - whether to use NuVu output, - whether to revalue foreign currency invoices to today's exchange rates. 4.Make sure the correct stationery is loaded onto the correct printers. 5. Select the appropriate output option. 6.If you selected to produce a file copy for electronic submission, then you will be asked a further question as to the international banking format you wish to use and the path/filename for the output file. 7. Press <F4> to return to the 'Transaction Processing' menu. 8.If you want the system to output an electronic (.aba) file that can be sent straight to the bank, then your company will need to purchase the ProStix e-banking module. If this module is not installed, you will just get the report printed out that you can then use to key the information into your internet banking website for the direct credits to suppliers. Review: Pay suppliers electronically as an alternative method to paying them by cheque.

27 Accounts Payable Cancelling a Payment In this lesson you will learn how to cancel a cheque or Direct Credit payment made to a supplier. Pre-Requisites: A cheque or direct credit run must have been done that includes the payment to be cancelled 1.From the 'Main Menu' select options - 'Accounts Payable' - 'Transaction Processing' - 'Payment Cancellation'. 2.Select the company, bank account, payment (cheque) number and period to post. If you now do a supplier enquiry, the transactions will have moved back from 'Transaction History' to 'Transactions' An audit report will print so you have a written record of the payment being reversed. Review: Cancel payments made to suppliers by cheque or direct credit.

28 28 ProStix Smartstore Training Manual - Accounts Payable 8.5 Prepaying a Supplier before Receipt of Goods The normal process for paying for goods involves the receipt of goods and the receipt of an invoice which is then approved, selected for payment, and paid. However, some suppliers from time to time will request a prepayment of either the full amount or part of the purchase value before they will release their goods for delivery. To make this payment requires the entry of a prepayment transaction into the Supplier account so that a payment can be drawn and sent to the supplier. In this lesson you will learn how to pay suppliers for purchase orders before receiving stock. Note: This process requires a new control account 'Prepaid Purchases' to be defined for the branch requiring a prepayment to be made. This account needs to be created as a balance sheet account and loaded against the branch in branch maintenance. If this account is not defined then an error message will appear when trying to create the prepayment transaction. 1.Create your purchase order if this has not already been created. 2.Select options - 'Accounts Payable' - 'Transaction Processing' - 'Invoice Entry'. Create a batch and key in the details of the invoice, (the invoice number is irrelevant as this will be automatically changed later in the process) including the order number of the purchase order that requires payment. For the amount, make sure that you key at least the amount that the supplier wants you to pre-pay. Press/click <F1>. 3.The 'Invoice Type' selection box will appear next. Select the type of 'Pre-Paid Stock Invoice'. You will then be given a message, 'Invoice number changed to a pre-paid invoice'. Press <Enter> and you will see that the invoice number has changed to a 'PP' number. Press/Click <F1> for the GST amount and you will be given the information message, 'This invoice has been allocated to the branch Pre-paid Purchases account'. Press <Enter> to continue. 4.If there are no further invoices to process then you can <F4> out and complete and post the batch. The Creditors Control Account will be credited and the branch Pre-Paid Purchase Orders and GST Purchases accounts will be debited. 5.The prepayment transaction will now be on the supplier account as a payable invoice to be 'Selected' and 'Paid' as per any other invoice. 6.After the goods are receipted and the real invoice for the goods arrives, process it through 'Purchasing & Receipting' - 'Creditors Invoice Approval' as normal. After you press/click <F7> to allocate the invoice to the G/L account, you will be presented with the message 'Reversing Pre-Paid Invoices $', where $ is the dollar amount of the pre-payment. Press <Enter> then <F4>. If you have finished adding invoices then complete and post the batch. 7.The initial prepayment transaction created in steps 3 & 4 will be reversed off the supplier account leaving the account with the amount of the prepayment made and the invoice processed in step 7 leaving any residual balance still to be paid.

29 Accounts Payable 29 Review: Make pre-payments to suppliers where they demand for all or part-payment before delivery. The system automatically reverses the pre-payment for you as it keeps track of it by the purchase order number.

30 30 ProStix Smartstore Training Manual - Accounts Payable 9 Supplier Enquiry In this lesson you will learn how to enquire on a a supplier name and address and also on a supplier account details. No modifications are allowed with the exception of the ability to add a diary note. 1.From the 'Main Menu' select options - 'Accounts Payable' - 'Supplier Enquiry'. 2.The next screen will display a list of suppliers to choose from. 3.Select the supplier and the next screen will display the contact details and the payment terms for the selected supplier and has an options menu on the right of the screen. 4.Select the required Enquiry Option. Note: The list of options available for the user to select can be limited by way of program security. The Payment Terms field will not be visible to any user who has been restricted from the Trading Terms option. Account Balance 5.This option will show you the last payment details, the ageing details, the balance owing and the amount of any outstanding claims raised against that particular supplier on the selected supplier account. The amount will display as soon as a claim is raised. The existing Balances shown will not be affected by the Outstanding Claims Total. Diary Notes 6.This option will display any diary notes that may have been keyed for the selected supplier. If there are no existing diary entries for the selected supplier, the screen will automatically revert to Add Mode. If there are diary entries and you wish to add a note, press/click <F6> and key the details. Transactions 7.This option will display all the outstanding invoices for the selected supplier and their details. 8.The <F8> (Sort) function key gives you the ability to change the sort sequence of the records displayed. Pressing this key will toggle the browser to display records in either ascending or descending order sequence. 9.Select the required invoice and press/click <Enter> to display more detailed information about the selected invoice. Press/click <F8> to view any stock receipt(s) that this invoice was processed against. 10.Press/click <F4> (Exit) to select another invoice. Press/click <F4> again to select another option. Transaction History 11.This option will display a list of all the transactions that have been finalised for the selected supplier, e.g. paid invoices. The <F8> (Sort) key gives the user the ability to

31 Accounts Payable 31 change the sort sequence of the records displayed. Pressing this key will toggle the browser to display records in either ascending or descending order sequence. 12.The screen shows the supplier invoice number, the batch number processed in, branch that invoice was for, the payment date, amount paid, the cheque or direct credit number, whether is has been cancelled and the date the payment was presented or cancelled. 13.Press/click <F9> to print out a supplier purchase history report to show all invoices and their payment details. Select the required invoice and press/click <Enter> to display more detailed information about the transaction. Press <F8> to view any stock receipt(s) that this invoice was processed against. 14.Press/click <F4> (Exit) to select another invoice. Press/click <F4> again to select another option. Purchase History 15.This option will display by month the GST-ex $ value of purchases made by this company from this supplier that have been invoiced. A monthly average of purchases is calculated and is displayed below the total purchases figure. Deal Sheet 16.This option will display the deal sheet information. Multiple Addresses 17.This option will allow you to enquire upon any alternate delivery addresses that have been entered for the selected supplier through the Supplier Maintenance option. Trading Terms 18.This option will display the Trading Terms by which any invoices against this supplier will be processed by ProStix. It displays Settlement discount terms and payment terms etc. Review: Enquire on suppliers to find out the details of the trading transactions your company has done with them.

32 32 ProStix Smartstore Training Manual - Accounts Payable 10 Payment Enquiry In this lesson you will learn how to enquire on a previously made payment. Pre-Requisites: A cheque or direct credit run must have been done that includes the payment. 1.From the 'Main Menu' select options - 'Accounts Payable' - 'Payment Enquiry'. 2.The first screen will prompt you to select the required company. 3.If more than one bank account has been set up for your company, the next screen will allow you to select which bank account you would like to enquire upon. 4.You will then be prompted to search for the payment by number or by supplier. 5.Drill-down (using the <Enter> key) is available to see more details of the transactions (invoices and stock receipts) that the payment was for. 6.When you have finished, press/click <F4> to return to the Accounts Payable menu. Review: Find the details of payments that have previously been made to suppliers.

33 Accounts Payable Reprinting a Remittance Advice In this lesson you will learn how to reprint a remittance advice. Pre-Requisites: A cheque or direct credit run must have been done that includes the payment. 1.From the 'Main Menu' select options - 'Accounts Payable' - 'Payment Enquiry'. 2.The first screen will prompt you to select the required company. 3.If more than one bank account has been set up for your company, the next screen will allow you to select which bank account you would like to enquire upon. 4.You will then be prompted to search for the payment by number or by supplier. 5.<F8 Reprint> will allow you to reprint the remittance advice. 6.When you have finished, press/click <F4> to return to the 'Accounts Payable' menu. Review: Reprint remittance advices for payments made to suppliers by cheque or direct credit.

34 34 ProStix Smartstore Training Manual - Accounts Payable 12 Printing Trial Balance In this lesson you will learn how to print the Creditors Trial Balance. 1.From the 'Main Menu' select options - 'Accounts Payable' - 'Reporting' - 'Creditors Trial Balance'. 2.The report lists the following information: the supplier code, name and address the balance due the aged balances a grand total for the report 3.If you select to print a detailed report, details of every invoice, date and amount will be listed for each supplier as well. Review: Print a Creditors Trial Balance which marks the end of the process normally undertaken by a Creditors Control Clerk.

35 Index 35 Index - A - Accounts Payable Introduction 4 Accounts Payable PreRequisites 9 Accounts Payable Terminology 6 Allocating Cheque Numbers 25 - C - Cancelling a Payment 27 Changing the Supplier Code 13 Confirming Supplier Invoice Selections 23 Creating a new Supplier 10 Creditor Enquiry 30 Creditor Payment Enquiry 32 - G - Grouping Suppliers 14 - I - Introduction to Accounts Payable 4 - M - Maintaining a Supplier 11 Manual Creditor Invoices 15 Manual Invoices and their Implications 15 Manual Supplier Invoices 15 Modifying Supplier Invoice Selections 22 - P - Paying Suppliers by Direct Credit 26 Payment Enquiry 32 Pre-paid Purchases 28 PreRequisites for Accounts Payable 9 Printing Cheques &/or Remittance Advices 24 Printing Supplier Trial Balance 34 - R - Reprinting a Remittance Advice 33 - S - Selecting Supplier Invoices for Payment - Batch Mode 19 Selecting Supplier Invoices for Payment - Manual Mode 21 Supplier Enquiry 30 Supplier Payment Enquiry 32 - T - Terminology for Accounts Payable 6 Trial Balance for Suppliers - Printing 34

36 Back Cover

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