PSL Datatrack’s Purchase Invoicing module provides the ability to reconcile and validate supplier invoices, ensuring that payments are made for goods at the correct price and in the correct quantities.
It does this through integration with the Purchase Orders and Goods Received modules, meaning users do not have to re-enter any data already held within the purchasing modules. This reduces manual administration times and possible human error. Users can also easily jump to relevant records in the Company Details and Tasks modules.
Supplier invoices with queries on them can be manually or automatically referred for authorisation so the invoices are logged and not forgotten about but only passed for payment when the queries have been resolved.
The module also provides an instant valuation, at month end, of goods that have been received but not yet invoiced. This prevents delaying accounts whilst waiting for supplier invoices to arrive.
Purchase Invoicing is highly flexible, so transactions can be entered for any combination of single or multiple purchase orders, single or multiple goods received notes (GRNs) and partial or full GRNs.
It also caters for miscellaneous invoices that may be received for items that were neither ordered on a purchase order nor received on a GRN, such as overhead items like electricity bills or physical items such as stationary.
Carriage costs are also catered for. A warning is issued if carriage is invoiced at a higher value than the carriage allowance specified on the relevant order. Owing to the fluid and sometimes unknown nature of carriage charges, the module also allows carriage to be reconciled that was not on a purchase order.
Purchase Invoicing is able to reference nominal codes as defined within an accounts system. This is achieved via the use of a reference file so the user does not require access to the accounts system. Purchase Invoicing then allows users to export transactions, either one at a time or as a batch, to their accounts system.
As with all PSL Datatrack modules, Purchase Invoicing possesses many configuration options that can be set based on the preference of the business running it. Examples include default nominal codes for purchase carriage costs and for material/tooling items, as well as referral percentages. To minimise repetition, the module has a feature to change the nominal code on all items in one go.
Two images files can be referenced by each purchase invoice, providing the ability to scan and store copies of incoming paperwork against a specific record. In addition, the module is supplied with many built in reports and documents, a key one being the ‘Unreconciled GRNs’ report. At the click of a button, this prints a value list of uninvoiced GRNs, subtotalled by supplier with a grand total on the final page. This can be exported and filtered further in programs like Excel if necessary.
Purchase invoicing is a key process for any business, so why not make it easy with PSL Datatrack production control software? Click here to find out more about this and our other financial modules!
