The WINHMS Accounts Payable / Accounts Receivable module is an advanced module that manages both the payable and receivable components of back office operations. Accounts payable is a productive accounting solution that maintains strong financial control, prevents duplicate entries and ensures timely payments. Support is provided for cheque printing for party payment advances and other payments.
It is possible to track multiple payments and expedition of supplier payments can occur by consolidating several bills on a single cheque. Partial payments are also supported. The system generates automated payment advices based on a specific due date thereby providing finer control of payments. A payment advice can be generated for payments against pending bills, payment as an advance and payments towards sundry expenses.
Prior approval for payment advices is possible prior to cheque printing. This module seamlessly integrates with the accounts module where payments are automatically posted as payment vouchers to the accounts books. Accounting statements are provided for both sundry debtors and sundry creditors.