Windward System Five - POS Software | Inventory Control | Point of Sale | Accounting Software Solutions for Todays Independent Retailer - 1300 137 066
WINDWARD
SYSTEM FIVE • ACCOUNTS PAYABLE FEATURES
Payables
Posting vendor bills is easy. For example, when you receive
inventory, the total amount of the purchase is posted
to just one ledger number. The inventory being received
is listed and detailed in the purchase order module, so
there is no need to duplicate this information.
If you negotiate payments in installments such as 3 equal payments,
Windward System Five will track those distributed due dates, remind
you when you need to pay the bill, and how much to pay. In Canada,
Australia or any other country dealing with the GST or VAT taxes,
the input tax credits are entered on the bill.
(These are taxes that you pay, but can get back from the government).
The system warns you if you forget to enter the tax amounts.
While entering accounts payable bills, the prices on the
original purchase order can easily be cross-referenced
to ensure they are correct and that you have received
the goods.
Buying Group
Support
If you deal with buying groups, then you'll buy the inventory
and goods from a supplier but pay the buying group. This
is because to get great discounts, the buying groups often
pay the bills very quickly or at least guarantee payment.
When you use buying groups in Windward, you'll be able
to report on all the purchases from a given supplier,
even if you don't owe them any money, and be able to look
at the buying group from a financial point of view to
see what you owe.
You can even use this technology if you purchase goods
with your credit card. There, you buy from a supplier
but pay Visa, Mastercard or American Express.
Writing Cheques
If you are entering information from a previously handwritten cheque,
you can do that without having to print them. Incredibly, many other
systems force you to print the cheques, regardless. After creating
a cheque, you can choose to post-and-pay it, or simply batch for later
payment. This lets you spend some time setting up the cheques. Once
you are ready, you can load the cheques into the printer and then print
and post the batch at one time. Read
information about batching cheques >> Time Payments - Paying Over Several
Months
In some cases, you may get a large shipment of goods from a supplier
and be allowed to pay in thirds, one month at a time. Windward System
Five will allow you to enter the time payment plan, with the payment
distributed up to ten months. This information is used with the cash
requirement report to determine which bills have to be paid.
