e-DISTAC >> Accounting

>> Accounting

The Accounting subsystem interacts transparently with Order Entry and the Inventory / Purchasing / Receiving subsystem to reduce the manual effort previously required. Invoices are automatically matched to purchase orders to indicate which invoices should be paid and when payment should be made to take advantage of available discounts. When all invoices for a purchase order are paid, the purchase order is closed. e-DISTAC’s open item Accounts Receivables capability gives you the flexibility to accept partial payments and apply them to any invoice you choose for each individual customer. It also lets you review the account status of each customer by displaying the account balance, the open invoices, and the payments made. Customer sales information such as month-to-date sales, month-to-date profit and year-to-date profit is available for review. A pricing guide is provided, listing the quoted price, the discount and the profit.

Accounts Receivable Features

	Accounts Receivable is updated when the sales invoice is posted in the Order Entry module.
	Customer Accounts can be managed as Open Invoice or Balance Forward.
	Deposits containing both customer payments, cash receipts and miscellaneous income can be entered via a single deposit screen.
	Customer payments are entered into the customer’s account as each deposit is posted. Even though payments may not have been applied to individual invoices as they are received, the customer’s account balance is always correct.
	Customer payments can be applied automatically by invoice age or applied manually to specific invoices. Either is accomplished by function key. A combination of automatic and manual application of payments is allowed.
	To unapply a payment a single function key is used.
	Statements show invoices with open balances, credit memos, customer payments and adjustments.
	Statements can be printed at any time.
	Late charges can be waived at any time with proper Security.
	When a deposit is posted, all customer account details are updated, the cash receipts journal is updated, and the necessary general ledger accounts are all posted.
	Each customer can be assigned a price class that is used with the inventory module’s matrix pricing.
	Each customer can have their own terms of sale, assigned salesman, salesman’s commission, freight number, high credit limit, trade discount percent, statement payment discount, if customer accepts backorders or accepts item substitutions.
	A customer’s total account activity can be reviewed on a single screen using separate windows to see payments, charges and account history. Unpaid balance is aged by current, 30, 60, and 90 days.
	Information on customer sales by product number, salesman, location and other grouping can be reviewed on-line with profit dollars and profit percent.
	When deposits are posted, all accounts including Customer and General Ledger are updated.

Accounts Payable Features

	Vendor invoices can be entered via one of two screens. Those that support purchased ordered items are easily matched to the original purchase order, such that only the exceptions have to be entered. When the vendor’s invoice is the same as the purchase order, only the invoice number and payment date are entered. Those invoices not related to a purchase order, such as rent or utility bills and are entered via a simple screen organized specially for these type vendor invoices.
	The user can pay vendor invoices related to purchase orders, as well as those not related, such as utility bills.
	Purchase-ordered items may be paid by individual line item or group of line items on the entire purchase order.
	A vendor’s invoice can include the charges for a single purchase order, or cover many purchase orders. It may cover some complete purchase orders and certain line items on others.
	Vendor payment can be by vendor invoice or a part of an invoice.
	When a vendor’s invoice is entered and posted, all affected parts of the system are updated through and including the General Ledger.
	The posted vendor’s invoice updates the current or latest cost of an item in the inventory database.
	Vendor invoices can be recalled on-line at any time, even after they are posted.
	Accounts Payable, not unlike the rest of e-DISTAC, is integrated into the total system to function as one system.

General Accounting & Financial Reports

Another major difference between e-DISTAC and it’s competition is in the area of General Accounting. General Ledger in e-DISTAC is updated at the same time all other related databases are posted. This eliminates the subsystem balancing, running a trial balance and the separate entry of transactions into journals and the General Ledger. Because the General Ledger is updated during posting, it always reflects a financial condition that is as current as the last posted transaction. Financial reports can be run at any time. You no longer have to wait until the end of the month or end of the quarter to see accurate and meaningful financial information.