Total Legal Accounting 3
The Creditor sub-system is designed to maintain current supplier information is respect of the value of purchase and outstanding amounts payable, together with purchase orders. Account transaction details are maintained in an open-item format. In this format, transactions are kept until fully matched by a balancing contra-entry, usually a payment.
Transactions are kept for at least 2 years or until they are fully matched, which ever comes last. Balances are also maintained for each of 12 last-year periods, 12 this-year periods and 3 next-year periods. In this way, comparisons for purchases, etc. can be made between this year and next year. The 3 next-year periods allow you to keep processing without forcing an end-of-year, for at least 3 months after the end of the current financial year.
When goods are received from customers, a service purchased or a job performed, a purchase will be prepared on the computer. T.L.A. automatically post the relevant information to the appropriate Creditor account and the purchase statistics, account status and, in the case of purchase of goods, the relevant Inventory accounts. These files are updated without further intervention of the operator.
Payments and adjustments can be aged to any balance.
It is recommended that the take-on of the Creditor sub-system be commenced at the start of a financial month, not partway through a month. This will facilitate audit control and balancing.
The CREDITOR MENU is accessed as item 5 or <F5> from the MAIN MENU. On selecting this menu the following menu will be displayed:
To return to the MAIN MENU, press <ESC>.
Fields available on the CREDITOR MASTER file.
CREDITOR CODE This is the Creditor’s code. This is the code by which the Creditor will be referenced throughout T.L.A. It is an alphanumeric string from 1 to 15 characters long, without any leading or imbedded spaces. Please refer to APPENDIX A for a discussion of the ASCII collating sequence.
NAME The name of the Creditor. It may be up to 50 characters long. This field must not be left blank.
PERIOD BALANCES These are the account balances for each by period for this Creditor. They are the amounts still outstanding in each period.
PURCHASE TOTALS T.L.A. maintains a total of purchases for each accounting period. These are not normally displayed on the screen but may be viewed in reports. A quick way of viewing these totals for a single Creditor is to print the Creditor’s details in CREDITOR ENQUIRIES.
ADDRESS This is a group of 4 fields (including post-code) that allow you to insert the Creditor’s address. Use the third line for suburb or county. T.L.A. will print these fields on reports.
CONTACT Insert the main contact’s name here. This field is printed on the AGED ANALYSIS report as a quick reference.
PHONE NUMBERS Here you may enter the work, home, Fax and Mobile phone numbers of the contact person. This is useful, quick reference information. This information is not included on any standard external reports.
EMAIL This allows you to insert the Creditor’s email address.
GROUP This allows you to insert the Creditor into a Creditor Group. Many Creditor reports may be sorted and totalled by Creditor Group. See also SECTION 7.2.5 - CREDITOR GROUP MAINTENANCE.
OTHER KEY This allows you to insert the Creditor into a user-definable group. Many Creditor reports may be sorted and totalled by this field. The field will allow any code to be entered. The name of this field may be changed in SYSTEM DEFAULTS (see SECTION 7.2).
LAST PAYMENT ON / FOR These are quick reference fields. They are displayed during ENQUIRIES. T.L.A. automatically maintains them when transactions are entered. You cannot change these fields manually.
PAYMENT WITHHELD If you set this field to Y, the BATCH PAYMENTS (see SECTION 18.104.22.168) program will ignore any transactions for this Creditor. If you only use SINGLE PAYMENTS (see SECTION 22.214.171.124), this field is purely documentary.
PAYMENT PRIORITY This can be used as a documentary field but certain reports allow you to mask for a specific priority, eg you may wish to report on only high priority Creditors. This field must be a number between 1 and 3, inclusive, where 1 is the highest priority and 3 is the lowest.
OVERALL DISCOUNT This field allows T.L.A. Purchasing to automatically insert a discount.
GST TYPE This matches the GST TYPE when entering a Purchase. Here you can enter the default value for each Creditor. I.e. if a Creditor normally gives you invoices that include GST on each line, you can enter a 2 here and the purchase will default to this, also. (See also Purchasing).
ABN This field allows you to enter the Supplier’s ABN.
PRINT INVOICES This field is normally N. If you have a supplier that does not give you invoices (eg a commission agent) you will need to generate an invoice on their behalf. This is compulsory if they are charging GST but pay also be useful even if they do not. If you enter a Y here, a RECIPIENT GENERATED INVOICE will be generated each time you enter a purchase. If you enter A, you will be asked at the end of each Purchase.
CREDIT DAYS & DOLLAR These two fields are used in PURCHASING to warn you of impending bad debts.
MODIFIED ON/AT/BY This displays the last time this Creditor record was modified (eg description). It is stamped with the date, time and the usercode of person who did the modification.
NOTE This is a field that allows you to attach a comment to the account. For instance, you might use this to store details of a dispute.