Purchase Ledger
All financial transactions (e.g. invoices, payments) or transactions with financial implications (e.g. orders, GRNs) are stored
in the purchase ledger. A full audit trail for each transaction is maintained, including the date and time it was posted, details of
the Operator that posted the transaction, and any other transactions that may be linked to it.
Unique Features
The purchase ledger operates in support of many of the other modules and is really only seen through reports or at month end. Some
of the features that make our purchase ledger unique include:
- Source of transactions - transactions recorded in the purchase ledger can originate from data directly input on the system, or they may come from handheld devices or third party systems
- Multi-currency - there is no limit in the number of currencies supported
- Automated report distribution - reports on purchase ledger activity can be sent by email to designated recipients automatically
- Month end process - once month-end reports have been generated, month end is as fast as 'flicking a switch'
- Historic queries - historic purchase ledger information can be queried at any time
- Purchase month end - the purchase period end can close at a different time to the sales month end if desired
The remainder of this page contains further information on the features and functions of the purchase ledger module.
Period End/Month End
The month (period) end process is really very simple and involves the following steps:
- Confirm that all transactions have been posted - reports can be generated to confirm that all transactions have been posted to accounts
- Schedule reports to run - month end reports can be scheduled to run at any time
- Run month end - it really is as easy as the 'flick of a switch' - the current period is closed and the new one is opened automatically!
Reports
Month end provides an opportunity for generating reports to assess the performance of the business. The range of reports available
provides simple yet clear information to help manage your business more effectively.
- Purchase Ledger Reconciliation - net movement and a transaction summary on the purchase ledger for any specified accounting period
- Purchase Summary Net of VAT - summary of activity by purchase nominal code
- Purchase Summary Net of VAT by Product - summary of purchase activity for each nominal code, further broken down by product code
- Purchase VAT Summary - VAT breakdown by currency, code and rate
- Purchase Analysis by Product - analyses purchase activity for any period by product code
- Purchase Daybook Listing - detailed listing of all movements on the purchase ledger for a given period - often used for audit purposes
- Aged Debt - supplier aged debt broken down by currency, ageing debt over six months as well as overall debt summaries