AccountMate 7 for LAN: PO

AccountMate
Software
Corporation

With AccountMate’s Purchase Order module, you have better control over a full range of purchasing activities. You can record vendor pricing and plan purchases based on reorder point and
reorder quantity information. Select the option to automatically accrue liability for purchases at the time goods are received, instead of waiting to record the liability upon receipt of the vendor’s invoice.

For each purchasing decision, you have an abundance of
information about each inventory item at your fingertips thereby enabling you to select the right item, every time. This module also enables you to define which items are for resale and which items (such as office supplies) are solely for in-house use.

When your Purchase Order system is integrated with AccountMate’s
Accounts Payable module, you can require that accounts payable invoices be supported
by purchase orders before being recorded in the system.

Software
That Fits

Print Page

Text Size

Download PDF

AccountMate 7 for LAN
Puchase Order Module

Instant Access to Vendor Information

Users have instant access to a vendor’s balance, open debit, available credit, and year-to-date and accumulated-to-date purchase totals while processing a purchase order. They can also preview the purchase order before it is printed to ensure accuracy and compliance with the company’s purchasing policies.

Create Purchase Order by Vendor—Line Items Tab

Enhanced Vendor Maintenance Functions

Track and View YTD Purchases—Users can view details of Year-to-Date purchases from a vendor to facilitate negotiations for better pricing and credit terms or to process purchase orders. Year-to-Date purchase information is calculated based on the company’s total purchases from a vendor within a user–defined year.

Vendor Ledger Card—The Vendor Ledger Card provides a snapshot of each vendor’s balance by displaying detailed invoice and payment information including prepayments, applied payments and adjustments, and invoice GL Account ID distribution.

Archive Deleted Vendors—Inactive vendors that have no outstanding balance can be deleted and archived. Archived vendor records can be reactivated at any time, eliminating the need to re-enter data.

Comprehensive Inventory Information

Add a picture of the product to each inventory item record. Enter product notes in the accompanying inventory notepad. These powerful tools can be quickly accessed while placing orders with vendors to reduce the potential of placing an order for the wrong item. Inventory information such as reorder levels, on-order quantities, available quantities, item classes and product lines are also visible on the purchase order screen.

Purchase Scheduling and Material Requirements Planning for Inventory Items

To facilitate customer order processing, users can set the system to check inventory on-hand quantities. Since stock items and manufacturing components may be purchased, users can enter reorder point and quantity information that is available on the Inventory Reorder Report that can be used as an aid to schedule purchases and for material requirements planning.

Using Last Received Cost as Purchase Cost

Each vendor record can be configured to use the last cost at which items purchased from a particular vendor were received as the default purchase cost for future purchases made from that vendor. Users can specify the number of days during which the costing scheme will be in effect. The Last Received Cost Report can be used to review the most recent purchase costs from any range of vendors and the expiration of such prices. This information aids in choosing the vendor from whom specific inventory items will be ordered before the next purchase is made.

Multiple Functions Expedite Purchase Order & Quote Creation

Users can easily create purchase orders and quotes by choosing from among four different Purchase Order and Purchase Quote creation options:

By Vendor–best used when items are purchased from specific vendors
By Item–best used when items may be purchased from multiple vendors at different costs
By Sales Order–best used when purchase orders are intended to fill specific customer orders
By Reorder Quantity–best used when processing orders based on predefined inventory reorder policies (i.e. reorder point and reorder quantity)

By using the Create Purchase Order by Item, Sales Order and Reorder Quantity functions, users let the system recommend the best-price vendor for each item selected for purchase.

Support Multiple Warehouses on a Purchase Order

Users can assign a different receiving warehouse to each purchase order line item to facilitate processing of a single purchase order that must be delivered to multiple locations. For multi-delivery-location orders, each warehouse address is printed at the bottom of the purchase order document.

Option to Accrue Purchase Receipts

Users have the option to accrue liability for purchase receipts for which no invoice has been received so that inventory quantities match the inventory GL Account balance. The accrued amounts can be matched against the corresponding vendor invoice when it is recorded in the Accounts Payable module.

User-Defined Pay Codes with Option to Define Complex Discount and Due Date Terms

An unlimited number of pay codes can be created to define the terms of sale granted by vendors. Complex discount and due date terms can be defined using a date table. Users can define the discount day, discount month, due day and due month of invoices dated on or before a particular day of the month, or choose to use E.O.M. (End-of-Month) discount and due terms. They can assign a default pay code to each vendor, thereby reducing order-entry time. Users can overwrite the default pay code for each purchase order processed.

Built-in Multi-Currency Feature

When multi-currency is activated, a foreign currency code can be assigned to a vendor so that purchases can be recorded in the appropriate currency. This allows estimated purchase costs for items sourced from foreign vendors to be properly recorded and allocated to the purchased items.

Import and Export Purchase Orders

Making use of the built-in flexibility of the Purchase Order module, users can create purchase orders by importing data from a text file. In addition, users can export existing purchase order data to text files. Both features allow the selection of import/export data fields and the order in which these data fields are arranged in the text file. This saves data-entry time and improves order accuracy.

Mass Cancellation of Purchase Order Backorders

The system provides a fast and easy way to cancel backorders from a range of purchase orders so that the inventory on-order quantity reflects the actual outstanding purchase orders only. The Cancel PO Backorder function allows users to set parameters for canceling backorders. Users can indicate one or a range of vendor numbers, buyer names, purchase order numbers and/or order dates. Each qualified purchase order record is displayed along with the line items and quantities that are backordered. To cancel, simply mark the corresponding check box beside the purchase order record. This saves a significant amount of time, since users do not have to individually access each purchase order to cancel the backordered items.

Multiple Vendors Tracked for Each Inventory Item

Inventory items may be purchased from different vendors at different units-of-measurement. When Purchase Order is integrated with the Inventory Control module, multiple vendors can be tracked for each inventory item, with each vendor’s price converted to the smallest unit-of-measurement in the home currency for effective comparison. A Best Price Listing feature aids in determining the best vendor price, to help keep purchasing costs at a minimum. If users have foreign currency vendors, they can enter the inventory item’s unit price in the vendor’s currency which frees them from the hassle of manually converting vendor prices.

When creating purchase orders, the system uses the inventory vendor record to recommend either a designated default vendor or the best price-per-unit vendor.

Temporary Vendor Option Helps Manage Number of Vendor Records

Users can assign a "Temporary" status to vendor records, which will be archived during period-end closing when their balances reach zero. This keeps these records separate from the active vendor list, allowing it to be kept at a more manageable size.

Integration with General Ledger, Accounts Payable, Inventory Control and Sales Order Modules

Integration with the General Ledger module enables users to easily and permanently post accounting entries for accrued purchase receipts to the General Ledger using the Period-End Closing function.
Integration with the Accounts Payable module allows users to record and track a purchase transaction from order entry, through receipt and invoicing, to payment. This allows for more effective management of the company’s vendor base and inventory. Users can also reverse accrued liability on purchase receipts when recording the vendor’s invoice.
With the Inventory Control module, users can set up different warehouses and bins for inventory, assign various cost methods to each item, and define different units-of-measurement to be used in purchase order and receipt transactions. Comprehensive inventory information is available for users through out the different stages of the purchasing cycle.
With the Sales Order module, users can create purchase orders to fill open sales orders in order to ensure that the company carries only enough items to fulfill customer orders and reduce its inventory carrying costs.

Other Features

Convert purchase quotes to orders without issuing another transaction number
Vendors can have unlimited order addresses
Cancel invoiced and un-invoiced purchase receipts
Stock and non-stock items on the same purchase order
Review and print archived purchase orders
Inactive vendor and inventory item setting prevent further use in transactions

© AccountMate Software Corporation. All rights reserved. Reproduction in whole or in part without permission is prohibited. The capabilities, Software Requirements and/or compatibility described herein are subject to change without notice. Contact AccountMate or Authorized AccountMate Solution Provider for current information.