Payables accounts recording transactions

You can post transactions to a creditor/payables account using Ledger Entry (LEN).

You can also import and post transactions to a creditor/payables account using Ledger Import (LIM). This is used to process transactions generated by an external system, or from another SunSystems business unit.

SunSystems Order Fulfilment can also generate transactions to a creditor/payables account. These transactions can either be posted online, or posted as batches by Ledger Import, depending on how you set up Order Fulfilment.

Payment transactions can be created automatically by Payment Run (PYR). This can be used to generate supplier payments in the form of cheques and remittances, or as payment records on a bank transfer file. It can also be used to clear inter-company accounts, or for bills of exchange. The ledger payment transactions are generated, posted and matched automatically.

Currency Postings

In a multi-currency environment, transactions can be posted to a creditor/payables account in any transaction currency. The transaction currency value is converted into base currency, and optionally into a second base or reporting currency.

Payment can also be generated and recorded in the transaction currency. Any currency exchange difference is calculated and posted automatically.

Uncleared Transactions

By defining an account as open item, you can ensure that transactions remain on an account until they have been completely paid and matched. This ensures that uncleared transactions remain on the account for as long as is necessary. You can therefore always get a full picture of the trading position with your suppliers.

You can maintain a history of an account for as long as you require. The history files can be held, by year, in archive files.