Logic Instinct

Article Index
Accounts Payable
Features
Entering Supplier
Supplier Code
Supplier Name
Address Line
supplier Since
Bank Particulars, Bank Reference
Bank Account Number
Payment Terms
Supplier's Currency
Remittance Advice
Tax Group
Selecting Suppliers
supplier Contacts
Entering Supplier Invoices
Entry of Charges for Stock Items
Entry of Invoices for Shipment Chararges
Entry of General Ledger Charges
Purchase Invoice Tax
Committing A Purchase Invoice
General Ledger Postings on Purchase Invoices
Supplier Payments
All Pages

Overview

A primary function of the system is to track the amounts owed by the business to suppliers in both local and foreign currency. The system shows, invoice-by-invoice, the balance on the account and does not lose the detail of what makes the account up in a balance brought forward - it is an "open item" system. When payments made to suppliers are entered and allocated to invoices, the differences on exchange are calculated and posted to the general ledger - that is only if integration to the general ledger is enabled from the company preferences page under the setup tab.

Note that in some countries the word "Vendor" is used instead of "Supplier" - please make allowances for this.