Flowchart - from processing orders to payment
Order Entry and Control
- Using the Ordering System is optional, creditor invoices can be processed and payment
made without the use of orders.
- Process / raise purchase orders as required.
- Flag orders as supplied or part supplied.
Creditor Invoice Entry
- Invoices can be entered on a regular basis (daily, weekly) depending on volume.
- Invoice entry creates a batch based on the invoice date.
- Invoice batches do not have to match in entry and $ value to the Creditor Payment Batches
if running a true accrual system.
- Batches must be finalised to impact on the General Ledger.
- Payments can be made daily, weekly, fortnightly or monthly.
- Invoices can be selected for payment individually, or based on due date or priority.
- It is at this point that the system regards the invoices as paid.
- Payment processing creates a batch which must be finalised to impact on the GL accounts.
- This view is a holding file of all payments, here is where you choose your output options.
- Payments can be printed in the form of cheques, remittance advices and/or to a file for
electronic payment processing.
- Payments can be re-tagged and printed in various formats (doing so will NOT DUPLICATE
the payment run).
- Payments can be reversed through this view.
Go to General Ledger /Creditor Payments and finalise the batch created
Once output is sent to bank and all remittance advices and reports printed – go back to Execute
Payment and select entries and select “PRINT SUCCESSFUL” (this will delete all the entries in
readiness for the next run)
Go to Creditor Payments and “DeSelect ALL” to remove all as already paid
- Creditor Invoice and Creditor Payment batches can be printed to paper or pdf format
END OF MONTH
There is no end of month procedure for Creditors but you should run the following each month and
print and save a copy:
Aged Creditor - Reports can be printed for ‘up to date outstanding balances’ at least
monthly for audit purposes or when required (this report is a REAL TIME report and will
only print based on CURRENT data). – this should = the Creditor Reconciliation top of
Creditor Reconciliation - Reports should be done at least monthly to validate the creditor
data against the General Ledger Control Account. – if a variance this needs to be looked
into – see manual