Accounts Payable Module – InfoCreditor
InfoCreditor tracks all your payables in real time for better business planning and cash flow
InfoCreditor provides robust accounting features to streamline your entire cash flow process and help you reduce unnecessary expenditures. It keeps track of all important vendor purchase information, invoice, debit balances and outstanding balances. The Drill down feature makes tracking of source documents (invoice, debit notes, etc) a simple task. With this comprehensive financial management tool you can prioritize payments, make flexible payment disbursements, negotiate terms, reduce bad debts — all in a timely manner. With its powerful accounting and reporting features, InfoCreditor makes it easier to manage vendor payable information the way your company requires. It is integrated to InfoCash for seemless bank withdrawal activity, InfoBuy for immediate purchase amount updating and InfoProject for users with project information integration requirements.
Increase your Efficiency and Collection Ratio
A Delivery Order usually accompanies the goods delivered. In most cases, the invoice will be sent later. For small volume of purchases, this may not be a critical problem. However, once the purchase volume increases, you may not be able to know exactly which invoices have not been received or paid. This will give rise to many administrative problems. The last thing a business needs is the sudden appearance of invoices that are unaccounted for. Not only does it eats into the sales margin, it will also lead to difficulty in tracking the goods and cause unnecessary delays in the business process – InfoCreditor makes sure that all A/P invoices are accounted for and if not received are in an A/P accrued list.
Enhanced Features for Better Control
InfoCreditor streamlines your payment process and makes sure that you have firsthand information of all A/P invoices. As part of the InfoMaster for Windows Series, InfoCreditor delivers real-time, online information.
You will be able to tell exactly which payment is outstanding at any one time without the need to perform any tedious posting process. This allows the finance manager to make better cash flow planning and make financial decisions based on up to time information.
With InfoCreditor’s tracking system, payment due dates can be verified on-screen. You will thus avoid incurring unnecessary interest charges, make duplicate payment of A/P invoices or accept duplicate A/P invoices.
With InfoCreditor, you can assign any data entry personnel to enter the data – InfoCreditor will do the rest. No more delays because of staff turnover or when the accounts staff is on leave. The Microsoft Excel like data entry screen provides a familiar look and feel for most users.
The accounts staff will also be benefit from the real-time nature of InfoCreditor. Rather than have time consumed on manual computation and manual record keeping, the accounts personnel can allocate more time on process flow, data accuracy and vendor negotiation.
Each A/P invoice entered can be in any foreign or local currency. The original currency will be tracked together with its exchange rate at the time of sales. Exchange gain/loss will be computed automatically when payment is made. For foreign invoices, any bank charges incurred can be taken care of at the same time.
InfoCreditor Auto Payment feature automates the payment process so that routine tasks can be handled easily. It is divided into the following sub tasks: -
• Payment Data Generation
• Payment Data Maintenance
• Payment Voucher Printing (Batch)
• Payment Status Update
Optionally, if the payment volume is large, an auto cheque-printing feature can be installed.
Strategic information for entire business
InfoCreditor allows the Company Management access to online data anytime without reliance on the accounts personnel. Data transparency ensures that information is available whenever it is needed. You can analyze the purchase patterns for different vendors and in the process negotiate for better credit terms or pricing.
InfoCreditor’s drill down facility allows ageing information to be drilled down 3 levels – from ageing buckets to specific invoices to invoice contents. Such a view affords the accounts personnel to identify a particular segment that needs attention.
The management, the accounts and the purchasing department will benefit greatly from the accurate date presented in InfoCreditor.
Reporting and Analysis
Ageing analysis or statement of accounts can be viewed or printed as and when is required.
Management summary reports provide the view of the A/R and A/P status for side-by-side comparison.