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Accounts Payable/General Ledger
The Rinax accounting system creates an automatic posting to the general ledger with every transaction in the system, whether it is order entry (invoicing), purchasing, inventory control, accounts receivable, accounts payable and so on; to a fine level of detail. As a result, the general ledger is fully integrated and real-time which reduces any duplication of work, guarantees accuracy and ensures financial reporting is up-to-the-minute.
Audit integrity is assured due to system assigned audit control numbers for each transaction, allowing on-screen access to accounting transactions to any level of detail.
Vendor discounts and due dates can be preset so that repetitive accounts payable postings can be simplified to the entry of dollar values, while the computer handles the distribution (to pre-assigned GL codes). This speeds data entry and ensures that discounts are realized and payments aren't forgotten. Rent, lease and other repetitive payments will appear as scheduled in regular cheque runs.
Receiving against a previously generated purchase order creates a 'packing slip file' or a 'copy' of the purchase order, 'edited as received'. This 'packing slip file' can then be automatically matched by the system to accounts payable invoices as they are posted to compare goods actually received to the vendors invoice. Small discrepancies can be adjusted to the 'inventory over/under' account.
Connect up to ninety-nine separate branches or stocking locations and report on branch activity both individually and/or on a consolidated basis. Combine multi-branch accounting tasks for increased efficiency, while improving accuracy. Branches can also be configured to have different year ends and be totally independent of each other.
Rinax Accounts Payable/General ledger is currently available in 'character based' format and will soon be available in our 'X4' windows format.