Accounts Payable (A/P)



System Objectives

A/P control is one of the most important parts of purchase control mainly concerns about the problems of logistic and cash flow. Users control the payable invoice, purchase debit note、purchase payment and paying deposit, etc. Turbo ERP A/P system can help the company to understand the instant situation of the payable accounts and actual payments to vendors. At the same time, the company can efficiently control the cash flow and trace the outstanding cases. This can help the enterprise to plan and control the expenditure and lower the purcahse cost.

System Functions

Provides multi-currency in accounts payable operation.
Allows setting prefix codes for invoices. Users can have their own settings according to their preferences. They can also set the access right of other users of the prefix codes to avoid misuse of invoices. System also allows setting 5-level approval and voiding. It can be divided into 2 approval methods - parallel approval and approve by level to suit the need of different approval requirements of invoices. System can auto-send out e-mail or SMS to the corresponding users for approval after each function processed.
Can process accounts payable to other expenses or settling amounts of non-routine purchses.
Allows operations of pre-payment to vendors.
Provides control function of temporary payment.
Provides 3 types of payment method - real time, by vendor statement date and user assign settlement time interval. The same vendor with different factory can set different payment methods.
Payment process can be done by assigning or auto-contra.
Provides partial payment and multi-invoices payment records.
If payment is made by cheque, the information of cheque can be recorded and passed to the Cash Module. The information will then be integrated and updated.
Provides monthly accounts payable statement and can accurately analyze the monthly amounts payable to each vendor for each month.
Provides auto-adjustment of currency exchange rates of amounts payable at the end of each month. Users can print out such report and analyze the profit or loss due to currency exchange rates so as to decide whether to do the revaluation.
Provides accounts receivable and accounts payable contra settlement.