Creditors (Suppliers)
(To print
this page, right-click on the page, then click ‘Print’)
Number of Accounts : an unlimited number of Creditors accounts can be opened.
Fast Account Opening : a Creditor
account can be quickly opened by entering just the Creditor’s name. The account
can be completed later with the rest of the information (address, etc.), and
the changing of the default parameters.
Take-On Opening Balances : a
special routine allows a fast opening of all the Creditors accounts, and the
posting of the opening balances.
Account Parameters
Normal Trade Discount : if a
supplier is normally granting you a trade discount, and you record it here, when
you post a purchase invoice the system will remind you to check if the discount
was given.
Settlement Discount and Terms : this indication will enable the system to check if your payment is
done within the terms for deducting the settlement discount.
Date of Statement : the date
which appears on the supplier’s statement, in connection with the granted Terms of Payment, will
enable the system to establish the payment due date for each posted invoice.
Overdue Interest : this
parameter – if known and recorded – will enable the system to warn about any
overdue interest in which you might incur for late items payment.
General Ledger Account Number for Non-Stock Purchases : this parameter can be applied to suppliers who do
not normally supply goods for resale (Stock Items), but for internal
consumption (ex: stationery). The
recorded GL expense account will then be used for the allocation of the
purchase.
Stop Purchasing : a
Creditor account can be blocked from posting purchases.
The Outstanding Balance
is analyzed by the system by payment due periods. To be able to do this, also
the Terms of
Payment and Date of Statement parameters must be available,
which - working together with the
invoice date - will enable the system to
calculate the payment due date.