ARMS - Supplier Accounts

CLIENT AREA

SUPPLIER ACCOUNTS
Take control of what you owe

Supplier Accounts forms part of the ARMS Signature Series suite of programs. It fully integrates with both the Cash Book (CAB) and General Ledger (GL)

"I have been using the ARMS system including Supergem, Supplier Accounts, CAB and Customer Systems for the past six and a half years and find it extremely user-friendly. We have just recently converted over to the ARMS Signature Series and I was pleasantly surprised to find it very similar to the old Supplier Accounts System but with added benefits. Being a Windows based program it is very flexible, making it simple to edit invoices, credit notes, deposits etc, with the added bonus of not having to reset at the end of each month. This to me is by far its biggest advantage!

The ARMS Signature Series takes very little time on a day to day basis, allowing us to keep our bank accounts reconciled and the financials right up to date. As the system allows for different profit centres and we have multi stores, the reporting system is very effective for comparisons etc. I thoroughly recommend implementing the ARMS Signature Series financial system as an easy to use but very effective way of reporting on the financial health of a business."
- Thelma Cameron, Graeme Burrows Jewellers, Mildura VIC, Australia

You’ll be wasting money without it
ARMS' Supplier Accounts system increases control of your purchases, maximises prompt settlement discounts, gives complete details of the status of any accounts you owe and keeps a detailed purchase history on each supplier. Supplier Accounts is very user-friendly and is a practical management approach to Creditors/Suppliers Accounts.

Know exactly what you owe at any given time, by individual suppliers and in total
Prevent double payment of invoices
Reminds you to pay invoices with settlement discount—eliminates missing out on settlement discounts when you forget when invoices with settlement discount are due
Allows you to withhold payments for short delivered or broken items on an invoice, avoiding the need to remember to hold back payment for missing or broken items
Trade discount negotiated with suppliers is set up in the system to automatically check each invoice to ensure you receive the correct discount
The system caters very simply for automatic bank payments, e.g. lease or periodical payments
Easy to use with only three transaction types

Transaction entry
Suppliers Invoices, Suppliers Credit Notes and Payments Made.

1) Invoice entry

Invoices are quickly entered on a daily basis and posted to the nominated account codes
Settlement discount offered on invoices is entered within the system advising you of payment due so you won’t miss the settlement discount
If an invoice has items short delivered or broken, you simply place the amount on dispute until the items are replaced or a credit note arrives (any amount on dispute is automatically withheld from payment until the items are replaced or a credit note arrives, allowing the balance of the invoice to be paid)

2) Credit Notes received

Quick to enter
Optionally allows credit notes to be automatically taken off the oldest amount owed
Prompts you to attach the credit note to the appropriate invoice

3) Payments made

For convenience two payment options exist:

Where you have already written the cheque and want to enter the details in Supplier Accounts
The monthly payment run, where the system presents you a list of all invoices due, allowing you to quickly select the ones you wish to pay. The system then creates a remittance advice (and a cheque if desirable) and automatically pays all the selected invoices in the system. Remittance advices are produced with full details of invoices being paid, including relevant cheque numbers. This saves hours each month in paying invoices.

Reports

Aged Balances Report
Allows you to quickly see what you owe, in total or by Supplier, with the amount broken down to Current, 30, 60 and 90+ days plus any invoices entered with a future payment date.

Balances Owing By Account Code
At the end of each accounting period (normally monthly or annually) your accountant requires a list of all invoices owed plus what they were for. Manually, this takes hours to accurately assemble. With Supplier Accounts this is done in an instant with a single report.

By Supplier To The Screen
You can quickly see all transactions for a supplier, each invoice paid, still owed, credit notes received, payments made and for which invoices etc. This inquiry can even be displayed for a given period, showing the opening balance for the period, transactions and final balance owing, similar to a monthly statement.

Supplier Transactions by Type
You can also search for Transactions By Type (e.g. Invoices, Payments, Credit Notes) for a given date period. By double clicking on an entry in the results grid, you can easily 'drill down' to see the details of specific transactions.

Invoices due for Payment (Cash Requirement)
At any time, you can print a list of invoices by supplier that are due for payment on a certain date, enabling you to double-check against the Supplier’s statement. A variation of this feature allows you to see how much cash flow you require to meet payment commitments for two different dates, e.g. 14th and 28th of each month.

Other Reports
Reports showing invoices already flagged for payment, details of historic transactions and a schedule of automatic payments are also available.

Ledger interface
Payments are automatically posted to the cash book and general ledger. Invoices entered appear on the GL immediately.

Cash Book interface
Supplier Accounts fully integrates with the cash book. All supplier payments are posted to the cash book immediately, thereby eliminating double entry of CAB outgoing transaction.

Profit and Loss Interface
CAB and Supplier Accounts combine to supply 99.9% of data required for the Profit and Loss statements to be printed at any time.

Data backup security
ARMS Signature Series prompts you to perform a back-up whenever you exit. All data on a backup disk is encrypted for security so no unauthorised person can use another computer to see your confidential business.

Buying groups
Suppliers to your buying group are flagged so you can print a report of invoices due to be paid by your group. This allows you to cross check against your buying group statement.

Reports - the key points:

Control of accounts being paid, saving double payments
Time saved with integration allowing one entry rather than duplicating time and effort
Information readily available in the case of supplier disputes and also at end of year
Prompts you to maximise settlement discounts

Supplier Accounts allows tighter control of your suppliers simply and quickly. No longer do you need to remember to pay invoices on time, or hold back payment for short deliveries. No longer do you need to add up invoices to find out what you currently owe. ARMS’ Supplier Accounts allows you to see at any given time what you owe and who you owe it to.

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