Accounts Payable Features - Windward System Five

Payables

Posting vendor bills is easy. For example, when you receive inventory, the total amount of the purchase is posted to just one ledger number. The inventory being received is listed and detailed in the purchase order module, so there is no need to duplicate this information.

If you negotiate payments in installments such as 3 equal payments, Windward System Five will track those distributed due dates, remind you when you need to pay the bill, and how much to pay. In Canada, Australia or any other country dealing with the GST or VAT taxes, the input tax credits are entered on the bill. (These are taxes that you pay, but can get back from the government). The system warns you if you forget to enter the tax amounts.

While entering accounts payable bills, the prices on the original purchase order can easily be cross-referenced to ensure they are correct and that you have received the goods.

If you deal with buying groups, then you'll buy the inventory and goods from a supplier but pay the buying group. This is because to get great discounts, the buying groups often pay the bills very quickly or at least guarantee payment.
When you use buying groups in Windward, you'll be able to report on all the purchases from a given supplier, even if you don't owe them any money, and be able to look at the buying group from a financial point of view to see what you owe.

You can even use this technology if you purchase goods with your credit card. There, you buy from a supplier but pay Visa, Mastercard or American Express.

If you are entering information from a previously handwritten check, you can do that without having to print them. Incredibly, many other systems force you to print the checks, regardless. After creating a check, you can choose to post-and-pay it, or simply batch for later payment. This lets you spend some time setting up the checks. Once you are ready, you can load the checks into the printer and then print and post the batch at one time. Read information about batching checks >>

In some cases, you may get a large shipment of goods from a supplier and be allowed to pay in thirds, one month at a time. Windward System Five will allow you to enter the time payment plan, with the payment distributed up to ten months. This information is used with the cash requirement report to determine which bills have to be paid.