Supplier Accounts

The checking of supplier invoices, managing supplier claims, and organising payments can be a long and tedious task. Acumen automates this function and cuts both the time and cost to a fraction of the manual process.

For each supplier invoice, the purchase order(s) requesting the supply can be automatically loaded to the invoice document, bringing with it the quantity received since the last invoice, the price and any quantity returned by the warehouse for claim, thus automating the checking process. This information is matched to the supplier invoice and may give rise to a further claim for either quantity or price. The system can print a suitable claim form to send to the supplier, and the approved part of the invoice can released for payment at a suitable date according to the terms for this supplier.

At the appropriate time, Acumen can be asked to prepare suggested payments to suppliers and it will include all those parts of the supplier invoices that have been approved for payment, taking into account the supplier terms of payment, and also calculating the settlement discount offered for prompt payment within those terms. The user can then check these suggested payments against the supplier's statement, make any adjustments necessary, and approve the remittance for payment before printing the cheques and printing the remittance for posting to the supplier.

The difficult task of managing the claims and matching the credit notes is again automated by Acumen as when a supplier credit note is entered, the system can be asked to suggest which claims are awaiting this credit amount or reference, and when a match is accepted, the credit is applied thus saving the tedious work of determining which claim this credit is for.

Supplier invoicing and payment data is accumulated for automated posting to the Purchases Journal and Payments Journal for General Ledger input on a monthly accrual basis.