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. If you have the CRM options enabled, access is also available to that, via the functions available in Creditors.
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. HiFinance 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.
A Creditor-by-Product Purchase Analysis allows the user to analyse the quantity and value of each product purchased from each Creditor over the current month, or any other period.
The Order Analysis displays details of all purchase orders by supplier or by product, in order date or due date sequence. These are kept on file until the order is labelled as complete.
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 2 or <F2> 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 HiFinance. 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 HiFinance 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. HiFinance 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 7.2.3 - CREDITOR GROUP MAINTENANCE.
OTHER KEY1, 2 & 3 This allows you to insert the Inventory item into any of 3 user-definable groups. Many reports can be sorted and totalled by these fields. These field will allow any code to be entered in upper or lower case. Care should be taken because searches and sorts will place the lower case entries after the upper case ones, eg a will come after Z. 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. HiFinance 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 22.214.171.124) program will ignore any transactions for this Creditor. If you only use SINGLE PAYMENTS (see SECTION 126.96.36.199), 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 HiFinance 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.
MINIMUM ORDER This field allows you to insert a value representing the minimum order value this supplier expects. Certain programs warn you if the value of the order is not at least this value. The value is ex-tax and before freight (freight being the internal freight field, not a manual g/l freight line).
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.
PRINT REMITTANCES or REMITTANCE TYPE This field may have one of two headings. If you are not using the Report Server software, you only have the option of answering Y or N to PRINT REMITTANCES. The normal answer is Y but if you have a Creditor who should never receive remittances, enter N here. If you are using the Report Server software you have more choices. You may still enter N for Creditors who never should receive a remittance, but you can also specify how the remittance should be generated. You may enter P for by-printer, F for by-fax, E for by-email or A if you wish to be asked when the remittance program is run. (Note that Y is not an option.) The last option is used for suppliers who might sometimes require faxes, sometimes emails, etc but for whom you cannot specify absolute values until the remittance is actually run. The last option can make printing of remittances very slow because HiFinance will stop and ask you for each supplier tagged in this way. However, the option is very flexible.
PRINT BATCH ORDERS or BATCH ORDER TYPE This field only relates to printing of BATCH PURCHASE ORDERS (see SECTION 2.3.8). However, a valid value must be entered, even if you do not wish to use the function. This field may have one of two headings. If you are not using the Report Server software, you only have the option of answering Y or N to PRINT BATCH INVOICES. The normal answer is Y but if you have a Creditor who should never receive a batch purchase order, enter N here. If you are using the Report Server software you have more choices. You may still enter N for Creditors who never should receive a batch purchase order, but you can also specify how the order should be generated. You may enter P for by-printer, F for by-fax, E for by-email or A if you wish to be asked when the batch update program is run. (Note that Y is not an option.) The last option is used for suppliers who might sometimes require faxes, sometimes emails, etc but for whom you cannot specify absolute values until the remittance is actually run. The last option can make printing of orders very slow because HiFinance will stop and ask you for each supplier tagged in this way. However, the option is very flexible.
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.
DELIVERY ADDRESS This allows you to enter a Delivery address that is different to you head office (Billing) address. This address is printed on PURCHASE ORDERS. Note that this field is 500 characters long. Not all formats can handle such a large field and, if this is the case, the information might be truncated.
DELIVERY INSTRUCTIONS This allows you to enter any special Delivery Instructions. These instructions will be printed on PURCHASE ORDXERS. Note that this field is 500 characters long. Not all formats can handle such a large field and, if this is the case, the information might be truncated.