Purchase Ledger - Financials - In Depth

The de Facto S5 Purchase Ledger is fully integrated into the Nominal Ledger and Banking modules, all of which are integrated with the Logistics Suite and Production and Costing modules. Like all de Facto S5 modules, the Financial Suite provides built in Customer and Supplier Relationship Management (CRM/SRM) features.

The Purchase Ledger module provides key features from the Financial Suite, such as Multi Currency and Open Period Accounting. The Suite also benefits from all of the System-wide features, such as easy Data Importing, and Email and Fax Integration.

Detailed supplier information can be held, including unlimited numbers of addresses and contacts as part of the CRM module, as well as user-definable supplier profiles for procurement purposes.

Multiple creditor accounts can be held in nominal ledger and the individual purchase ledger accounts linked to the relevant control account. This provides an effective way of handling sub-ledgers and for instance, the control of inter-company creditors.

Purchase ledger accounts can be specified as having a default, choice or restricted list of nominal accounts that they can be used with.

When used with the Purchase Order Processing module, further supplier options are available to handle supplier pricing and order processing.

Automatic Payments are handled by a dedicated batch processing system. The system allows user-definable criteria to be utilised to identify transactions and suppliers who are due for payment. Options control the handling of bank accounts, settlement discounts and exchange rates used.

Approval reports can be produced, and where required, individual transactions or whole accounts removed from the batch prior to posting. Once transactions have been posted, the banking module provides cheque printing as well as BACS, or online banking integration.

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Automatic Payments

The de Facto S5 Purchase Ledger provides a flexible Auto Payment batch routine, which can construct payments in multiple currencies, and from a choice of bank accounts. Settlement discounts may be selectively taken, and approval reports produced prior to posting. The resulting payments may then be processed through the banking module as cheques, or as downloads direct to any major on-line banking system.

The de Facto S5 Purchase Ledger provides all the facilities for transaction entries you'd expect, including invoices, credits and adjustments. In common with all Financial Suite transactions, journals can use quantities in their entries. VAT entries are also catered for directly from journals as either 'net + VAT', or 'gross - VAT'. VAT inputs and outputs are also definable.

Purchase ledger receipts and payments are also handled and fully integrated into the banking module, which provides cheque printing as well as BACS or online banking integration. Flexible payment allocations provide many easy-to-use features such as oldest first and best fit matching. Facilities are also provided for over and partial credit allocation.

Fast entry options are also available for all types of transactions; these allow the required fields to be specified by user and transaction type. These facilities are designed to speed up repetitive data entry tasks such as opening balance entries.

A further useful option shared by all de Facto S5 transaction types is the ability to have both internal and external references as well as a unique system number for all transactions. Descriptions and notes facilities are available at both header and detail level on all transactions. User-entered reference and description data can be corrected easily after posting.

Contra Accounting is provided between the purchase and sales ledgers, as is a useful back-to-back facility for converting a sales invoice into a purchase invoice including its standard margin facilities.

The purchase ledger also supports self-billing invoice procedures, either directly or via the purchase order processing module.

Integration with the purchase order processing module provides automatic reconciliation of 'goods received awaiting invoices' accrual accounts. Prices variances are also automatically handled.

The Purchase Ledger also supports self-billing invoice procedures, either directly, or via the Purchase Order Processing module.

Cross Account Allocation allows groups of sales ledger accounts to be grouped for payment and allocation purposes. When receiving a group payment, this can be allocated across multiple accounts. The system will then automatically construct the required contra transactions.

Each of the categories listed below will have multiple versions exploiting the many options that the standard reports provide.

In addition to Purchase Ledger specific reports, de Facto S5 provides a comprehensive series of Standard Reports, many of which can be easily parameter driven by the user. S5 further provides the Vistas feature, which are a powerful and easy way of selecting, sorting, displaying and working with data from either single or multiple tables.