Office organization

Open invoices management

Overview

  • Payments transactions
  • Information of accounts payable and receivable
  • Payment monitoring (dunning process)

Description

Through the use of the module Open invoices management you are able to constantly pursue the target of keeping debts low, paying the incoming invoices on time (payables), taking advantage of discounts and maintaining transparency throughout the system.

Areas of Open invoices management:

  • Overview of open invoices
  • Payments transactions
    • Bank / cash transfer
    • Cheques
    • DTA – data carrier exchange procedure (data out of computer system)
  • Information on accounts payable and receivable
  • Payment reminders process (dunning process)

Procedure

  • With this module you keep transparency of unpaid invoices at every time. Invoices that were created by the OSD Customer order handling (receivables) are automatically passed on to the Open invoices management. Payment terms will be considered. Payment receipts are posted; the payment monitoring and reminders are created automatically.
  • In the payables area, the invoices from suppliers are booked.
    With due regard to the defined payment terms and conditions the open invoices are proposed by the program to be paid. Whenever your company pays an invoice the program automatically processes the file (SEPA*) for your records and for data transmission to the Bank.

*SEPA = Single Euro Payments Area (The SEPA currently comprises all EU Member States plus Iceland, Liechtenstein, Norway and Switzerland.)

Payment reminder
(dunning process)

The system builds up to a four-level payment reminder system. The user defines the text, interval between the individual reminder levels, additional interest and fees according to his own requirements.

The proposal lists (of payment reminders) will immediately show the user when an invoice is overdue so it can be addressed without delay.

Individual procedures can be easily taken into consideration, if for example, you prefer a VIP customer not to receive an automatic reminder.

The unpaid invoices overview shows which amounts are to be expected at which time (user-defined time periods) and which payment must be made. The Open invoices management supplies the incoming payments with the exact values of the review.

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