|The Creditor (or Payable) Accounts procedure describes the steps required to open and amend supplier accounts, including the contact, associate and report details linked to these accounts.
Refer to CreditorAccounts (96.7 KB).
Creditor accounts contain the name, address and contact information that is utilised by purchases activitity, and are the focus of quoting and ordering operations. Additionally, they contain the transactions and balances due consequent upon the invoicing phase in regard to ordered goods and services that have been received.
Similarly, they provide the primary focus for the payments activity that concludes the overall task of procuring goods and services.
The procedure enables all the supplier attributes required for these activities to be established.|
|The Creditor (or Payable) Period End procedure describes the steps required to close or finalise the sub-ledger at the conclusion of a trading period, e.g. weekly or monthly.
Refer to CreditorPeriodEnd (83.2 KB).
The procedure enables the production of control and analysis reports on a regular and comparative basis. On conclusion, all paid transactions are identified as non-current, and account balance ageing is re-established. Additionally, the processing of transactions dated prior to the period ended date is prohibited.|