Creditors Ledger
The Micronet Creditors Ledger (MCL) integrates with all the relevant Micronet Advantage modules (MDS/MJC/MGL) and maintains and reports on your individual liabilities to creditors. MCL will assist in efficient cash management for payment of suppliers and will track “prompt payment” entitlements providing all pertinent information in screen or report format.
Payments can be processed by way of printing cheques/remittances or electronically using current banking technology and fund transfers.
BATCH TRANSACTION POSTING
Creditors transactions (invoices, journals and credit notes) are entered in a batch for off-line processing. This batch can be added to at any time. Up to nine active creditors batches may be active.
ON-LINE INQUIRY
The status of any supplier’s accounts can be investigated on-line, showing all invoices paid and unpaid together with the ageing of those transactions. History of payments made to the supplier can also be viewed on the screen.
CREDITOR PAYMENT ANALYSIS
MCL has the ability to part pay supplier invoices, “hold” and “release” invoices in dispute with suppliers and also has the capability to auto-pay suppliers for nominated invoices by simply selecting the supplier range and the invoice due date range. All invoices relating to a supplier that are due for payment according to the age of the invoice and the Micronet system date can print on the Creditor Payments Analysis report.
CREDITOR CHEQUES
Creditor cheques can be printed onto your pre-printed cheque stationery, with optional remittance advices. All cheques drawn will be automatically reflected in the bank reconciliation program of the general ledger. Alternatively funds can be transferred electronically if your bank has this facility available to you.
CREDITOR REPORTS
A Creditors Master List, Aged Trial Balance and Payments Due Report may be printed at any time. The Aged Trial Balance Report can optionally show all invoices outstanding for the supplier, or just the total aged amount.
MULTI-CURRENCY
The multi-currency features in MCL enables a base currency, with exchange rate tables converting the invoice and payment at the time of processing, to exchange to the appropriate currency. Both the base currency and the foreign currency can be displayed as a commitment to the supplier.
PRESCRIBED PAYMENTS TAX
For companies that utilise sub-contractors, MCL can store the information relating to any sub-contractors’ details together with the PPS tax due or paid. MCL can automatically print your PPS tax remittances on standard government tax forms.
General Features
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18 character creditor account code |
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Additional free text can be stored against each creditor for contact details, memos, etc |
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Flexible trading terms per creditor based on number of days from invoice or by period end |
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Print cheques, cheques with remittances or separate remittances as required |
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Optional electronic funds transfers |
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Multi-currency transaction processing |
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Customisable reports, inquires, menus and security access |
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Optional “cashbook” type dissection transaction posting facility |
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PPS tax control |
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Search by Creditor code or name |
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On-line “aged” summary of creditors combined balances available |
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MDS/MCL "Contra" accounts |
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