Procurement and Accounts Payable

Procurement & A/C Payables Features:

• Maintaining a complete record of suppliers' data to be used in sending correspondence and alerts.
• Dealing with suppliers who have been registered as customers in the system and generating one statement containing all transactions related to purchases and sales.
• The possibility of recording all transactions in local and foreign currencies.
• Dealing with purchase expenses considering accounting directions and effect on the cost of Goods Receiving Notes in the Inventory Control System and allocation of the value of expenses to different items in more than one way.
• Treatment of the effect of free items in purchase on the cost of items, whether to the same free item or other items.
• The system follows-up and updates the balances of each supplier at the level of credit balance or notes payables balances.
• The possibility of linking payments to invoices to generate detailed suppliers' credit balances at the level of none fully settled invoices.
• The system allows the registration of Purchase Requisition submitted by the various departments of the company, and the system verifies the balances of these items in the warehouses and the goods on the road through the open Purchase Orders that have not yet been supplied.
• The system allows the creation of Purchase Requisition automatically from customer orders that are not reserved in the warehouse.
• The system allows the creation of Purchase Requisition automatically when using the Production and Capacity Planning System.
• The system allows recording a purchasing plan and to be allocated over months and monitoring its implementation.
• The system maintains suppliers' quotations for each item, and contains information about the quality level, supply period, and payment method, to facilitate the selection of the best suppliers.
• The system records the Purchase Orders in detail of the required items, quantities, prices, and the expected date of supply, with the ability to print the Purchase Orders.
• The system follows up on the opened Purchase Orders by inquiring about the required quantities, what has been supplied, and what is left.
• The program allows dealing with a direct purchase that does not depend on receiving quotations from suppliers or issuing supply orders to them.
• The system creates Receiving Vouchers (for purchases) and Issuing Vouchers (for returns) in the Inventory Control System automatically, with immediate effect on the Items balances in warehouses. It also creates journal entries of purchases, returns, payments, and advanced payments in the General Ledger System.
• The possibility of creating journal entries in the General Ledger System automatically at the item level.
• The possibility of creating journal entries in the General Ledger System automatically at the level of a single supplier or the level of the total suppliers.
• The system allows linking Purchase Invoices submitted by suppliers with Receiving Vouchers in the warehouse (receiving purchases) previously added, whether it was added in one Receiving Voucher or multiple Receiving Vouchers for the same supplier in one Purchase Invoice, with linking the Receiving Vouchers to the purchase Orders to facilitate generating reports on the supplier's commitment with the Purchase Orders issued to him.
• The system allows for multiple types of discounts on the Purchase Invoice up to 4 types of discounts with the treatment of sales tax and withholding and additional taxes.
• The system records Notes Payable's data, such as the type of note, the name of the bank, the date of the note, its value, and its due date.
• The system follows up the Notes Payable transactions from their delivery time to the supplier until their deduction or return.

Some of Purchasing & Accounts Payables System reports:

• • • Report on supplier's balances.
    • Report of Purchase Requestions from the various departments and sections, with a statement of the status of each of them.
    • Reports comparing price offers submitted by suppliers of a particular item, with an explanation of each supplier's price, supply period, payment method, and quality.
    • Report on the status of opened Purchase Orders for a specific supplier (or for all suppliers) indicating the required quantities and what has been supplied and delayed.
    • Report on Purchase Invoices and Purchase Returns.
    • Supplier Trial balance (total or analytical) during a specific period.
    • Supplier account statement during a specific period.
    • Daily purchases journal.
    • Analytical reports of purchases, returns, and net purchases of the items (quantity and value) during a period at the company level or analyzed on the supplier's level.
    • Report of none fully settled Purchase Invoices analyzed by the invoice number, date, supplier, invoice value, paid and unpaid values.
    • Aging report credit balances analyzed at the level of suppliers.
    • Report on Notes Payable due during a specific period on a specific bank.
    • Report of Notes Payable's detailed data.