eRKTM-AP automates invoice processing, tracking obligation to vendors, controlling cash flow and cheques generation, while streamlining the entire "paying" process, which provides complete, up-to-date information for any business.
Features
Users are able to prepare multiple cheques with single payment voucher (nominees cheque).
Users are able to prepare single payment voucher with multiple of invoices or multiple invoices or multiple bill and documents.
Identifies invoices by invoice number, purchase order number or sales order.
Eliminates overpayments by detecting duplicate invoice numbers for the same vendor.
Maintains a clear and concise audit trail.
Fully integrated with Budget System, from which all information on working papers, local orders, indents, tenders or offer letters and invoices will be automatically retrieved and extracted from respective modules.
Fully integrated with Payroll System, from which all information regarding deduction of the employees to respective parties or government bodies, such as KWSP, SOCSO, Income Tax, etc. could be retrieved immediately for payment vouchers and issuance of cheques.
Maintains real-time balances without the delays associated with conventional batch processing methods.
Withholds payment of individual transactions.
Voids payments and transactions and automatically reverses all associated accounting entries even after posting.
Reverses or corrects any any payment information, including amount and payment type - cheque number.
Generates unique serial voucher reference numbers, which will provide better control and management on the payment vouchers issued.
Enables cancellation of payment vouchers and cheques.
Enables regeneration of cheques without reissuance of payment vouchers.
Makes full payments for multiple outstanding vendors' invoices with single or multiple cheques.
Optional Features
Full Multicurrency Accounting Support - Vendors can be paid in currency of choice with proper conversion calculations according to exchange rates and accounting.
Calculates tax for vendor invoices even when the tax is included in the invoices.
Invoices can be entered in multiple currencies.
Currency rate can be defaulted from the currency master or it can be overridden of transaction entry time.
Provides automation tools such as electronic invoices, evaluated receipt settlement and electronic payments, thus reducing costs and enabling workforce to concentrate on improving cash flow and vendor relationships.
Prepayment is designed to keep track of prepayment made and is used to offset the invoice using prepayment amount created in the payment voucher entry screen.
Automatically calculates invoice due dates from user requirements.
Stores all pertinent data in a vendor profile, ensuring that purchase documents contain correct payment terms, shipping method and addresses, credit limits and vendor notes.
Controls the maximum amount and/or excludes specific vendors.
Online entry of invoices from suppliers with details, such as transaction and invoice number, creditors, payment terms, invoice date, posting date and invoice due date, information of double entry for the transactions including account codes, cost center, analysis, sub-analysis, amount and remarks, and information on payment methods and bank charges.
Check disbursements through system-generated and/or manual check processing.
analytical tools for decision support by using discount evaluation to compare prompt-payment discounts to potential interest earnings, allowing you to make intelligent payment decisions. Gathers information on vendor performance to help initiate contracts.
Makes partial payments for multiple outstanding vendors' invoices with single or multiple cheques.
Creditors' aging report - sets up and schedules recurring payables for invoices that you can pay regularly.
Reports
AP Master / AP Transaction report.
Payment vouchers issued.
Vouchers and cheques issued / unissued.
List of cheques issued by date / creditor.
List of draft vouchers prepared.
Creditors' ledger.
Status documentation by document numbers / invoice numbers / voucher numbers / cheque numbers / supplier names.
Optional - Pending invoice / Debit note summary.
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.: eRKTM-FINANCIAL
eRKTM-Financial consists of the following modules, please click on the product code for more information.
