SpeedyPOS PLUS: Accounts Payable
A robust accounts payable module is included as a standard part of SpeedyPOS PLUS' integrated accounting. Keeping tabs of your outstanding invoices with suppliers shouldn't be complicated, so SpeedyPOS PLUS makes it easy.
Payables
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, SpeedyPOS will track those distributed due dates, remind you when you need to pay the bill, and how much to pay. In Australia the GST input tax credits are entered on the bill, and the system warns you if you forget to enter these 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
SpeedyPOS PLUS fully supports buying groups, where you can order from a supplier but pay the buying group. When you use the buying groups feature, 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 use this capability if you purchase goods with your credit card. In this case you buy from a supplier but pay your credit card company.
Cheque Handling
If you are entering information from a previously handwritten cheque, you can do that without having to print them a second time. After creating a cheque, you can choose to post-and-pay it, or hold it for batch-printing all your cheques later. This lets you spend some time setting up the cheques, then load the cheques into the printer and print and post the batch in one go.
Timed Payments
In some cases, you may get a large shipment of goods from a supplier and be allowed to pay in monthly installments. SpeedyPOS PLUS allows you to do this easily, with payments distributed over a maximum of ten months. This information is combined with the cash requirement report to determine which bills should be paid.
