Accounts Payable
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The Accounts Payable module provides you with the vital expense controls needed for your business. In summary, it provides the following features: Standing Payment Facility Supplier Notes & Records Creditors Aged Register Foreign Currency/Ledger Hold Payments function Bank Reconciliation interface Remittance Advice generation Automatic Electronic Document Delivery Cash/Cheque/EFT Payments You can read an overview of […]
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Accounts Payable Asset Ledger Purchasing System Manager
Asset Groups provide a method of categorising Fixed Assets. Reports generated from the Asset Ledger system are typically sorted and sub-totaled by Asset Group. Asset Groups also define the General Ledger account postings used for Asset transactions. They contain control pointers for that specific group for the following Postings: The Asset group also provides the facility […]
Accounts Payable Accounts Receivable System Manager
Countries are used in address input and define (in part) some of the address format details – like the wording for ‘state’ and ‘postcode’ which can vary between countries. Along with assisting to define the “rules” for data entry, having a separate and validated input for countries allows Online Advantage to filter reports and provide […]
‘Other Time’ codes are used to record employee time expended that is not recorded as actual Labour for the costing of Manufacturing or Job Costing. They are used to record employee time in Time Card Entry when an Employee has not been working on a particular Work Order or Job but involved in other activities. […]
Accounts Payable Purchasing
On Costs contain descriptive details and default settings used for allocating any additional costs that you want included in the cost of inventory items received through the Purchasing system. “On-costs” can be optionally applied to goods received on any Purchase Shipment. You can add multiple on-costs to a given shipment and allocate them to the […]
Accounts Payable Accounts Receivable Online Tools
Contact Type Code The Contact Type Code can be numeric or alpha. For details on the use of “codes”, see The Role of “Codes” in Online Advantage Contact Type Name Enter text to describe the Contact Type. For more details on descriptions, see The Role of “Names & Descriptions” in Online Advantage
Accounts Payable Accounts Receivable Online Tools System Manager
Use Contact Types to categorise contacts in any way that suits your business needs. Each contact must be allocated a type, so it is important to establish the list of types early before you have too many recorded in the Contacts database. Contact Types are particularly relevant when looking up contacts or when performing any […]
Use Job Titles to classify contacts in way that suits your needs. The Job Title can be used to filter Contact selections so you can target certain contacts for mail outs and other digital communcations that you might want to have with the people recorded in your Contacts database. Example Some examples to use are: […]
Contact Classifications are used to “categorise” your contacts in a way that helps you define them for your purposes. For instance, classification(s) can be used to filter Contact selections so you can target certain contacts for mail merges, marketing or sales call targeting. You can include a given contact under multiple classifications. This means you […]
Shipping Ports contain descriptive details on overseas shipping ports and are used in purchasing for the tracking and reporting of incoming Purchase Orders and Shipments. Example By recording the shipping port your goods are being shipped from (or going through) you can easily report on outstanding purchases for those ports when problems such as strikes, […]
Quality Assurance Codes allow you to establish a lookup table of supplier quality assurance codes for use in the purchasing system. These can then be used to identify if the supplier meets your quality standards. Example This could be ISO standards or some scale of your own devising to rate suppliers based on the quality of […]
Quality Assurance Code Quality Assurance code code be numeric or alpha. For details on the use of “codes”, see The Role of “Codes” in Online Advantage Quality Assurance Code Name Enter text to describe the Quality Assurance Code. This is shown when selecting a QA code in Suppliers maintenance and reporting filters.
A purchase Delivery Method is a description of how an order is to be delivered e.g. Truck, Rail, Air, Sea etc. Delivery Methods are allocated to purchase orders and shipments in the purchasing system and are used for tracking and reporting of your purchase activity. You can assign a Delivery Method to a Supplier so that […]
Payment Methods contain descriptive details on purchasing payment arrangements used for local or foreign shipments. An unlimited number of purchasing payment methods can be established.The use of payment methods allows the purchasing personnel to mark a given purchase order or shipment with a particular method of payment i.e. letter of credit, bank transfer/telegraphic transfer. The […]
Hold Payment reasons are used to “tag” transactions with the reason you are currently not paying the Suppliers Invoice. A Hold Payment Reason can be applied against a Supplier’s invoice as you enter it, or it may be added to invoices at a later date using the Adjustments function. Invoices with a Hold Payment reason […]
Purchase Types contain descriptive details on the types (or categories) of products that you purchase. It’s a way to ‘group’ and describe the suppliers by the product or service they provide. You can record one or more Purchase Types against a Supplier account and this can be used to target specific suppliers when sending out […]
Use Personal Titles to record the contacts preferred title or honorific when addressing them. The Title can be used when formulating a full contact name for emails and addresses e.g. Sir Elton John, Dame Judy Dench and so on. Use of a title for a contact is optional. Example Some examples to use are: Mr, […]
Standing Payment Category Code The Standing Payment Category code can be numeric or alpha. For details on the use of “codes”, see The Role of “Codes” in Online Advantage Standing Payment Category Name Enter text to describe the Standing Payment Category. This is shown when selecting a category when setting up Standing Payments or choosing […]
Supplier Types can be used to classify Suppliers into reporting groups for filtering and report sorting and consolidation. However the primary purpose of Supplier Types is to define the General Ledger ‘Trade Creditors Subsidiary Control Account’ to be used when posting Accounts Payable transactions. There are two default Trade Creditor accounts settings – one for local suppliers […]
Supplier Type Supplier Type code can be numeric or alpha. For details on the use of “codes”, see The Role of “Codes” in Online Advantage Name Enter text to describe the Supplier Type. This name appears when choosing a Supplier Type for a Supplier and in report filtering. For more details on descriptions, see The Role of […]
Selling Groups allow you to establish a list of groupings of Suppliers and is used throughout the accounts payable and purchasing system to provide report filtering and consolidation based on the selling group of each supplier. Example You may want to group your suppliers into those supplying your operational needs (e.g. utilities like water, electricity, gas), […]
Standing Payment Categories (or classifications) allow you to filter and group your Standing Payments when using reporting. Some sample categories to consider are include ‘Rent’, ‘Superannuation’, ‘Loan Repayments’, ‘Maintenance’, ‘Subscriptions’ etc. Example Example 1 – You lease several vehicles, and you are going to pay a certain amount to the leasing companies every month. You […]
Accounts Payable Frequently Asked Questions
If you need to process a pre-payment (early payment) there are three approaches described below to choose from. Approach No. 1 – Process a Manual Cash Payment for the Supplier The advantage of this method is that all activity for the Supplier will be recorded against the Suppliers account and therefore history will be available […]
Purpose Each ‘Bank Transfer’ payment transaction entered in Online Advantage via the Accounts Payable Manual Payments or Payment Run functions is grouped under a ‘Bank Transfer Reference Number’. The ‘Maintain and Export Bank Transfers’ function allows you to enter or maintain details of a group of bank transfer payments under the assigned reference number prior to exporting the […]