emPOWER Accounting Module
The emPOWER Base Accounting module is a fully integrated Accounts Receivable, Accounts Payable and Stock Control Module that provides the essential foundations for the entire emPOWER distribution suite. It is designed with adherence to solid accounting concepts and can be enhanced by the addition of a number of optional Advanced versions and Add-Ons. It is one of a new generation of products that gives every Business the POWER to Perform.
Key Features of emPOWER Accounting Module
Open Period Processing
Flexible, open period processing is standard on the system. This means that transactions may be posted into any defined date range and reported on as required. Transactions are automatically updated to the General Ledger and Cashbook thus removing the need for complicated Month-end processing. Months can be easily “Closed” to prevent any further processing when a period is complete.
Other Parties (Customer and Suppliers)
Both Customers and Suppliers are retained together and are called Other Parties. All relevant information is identified including transactions, history, contact details, categorisations, payment terms and notes. Any Other Party can be a Customer, Supplier, both or neither.
Other Party Contact Details
Multiple, User definable contacts can be held for each Other Party and each contact can have their own telephone, fax e-mail etc numbers. This allows you to track the different individuals you deal with within an organisation.
Other Party Log File
A comprehensive Log file is provided for each Other Party. This file can track contacts with the Other Party, which employee made the contact, action dates and locations of any additional documentation.
e-mailing Other Parties
Invoices, Statements and Purchase Orders can be e-mailed to Other Parties in a number of formats.
Payment Terms / Penalty Interest
You may set your own flexible payment terms and penalty interest charges for overdue accounts.
Analysis Items
Analysis Items are anything that is purchased or sold. Types include Inventory, non-inventory, sales only items and expense items. Detailed information is kept on each Item that is clearly presented and accessed. Information such as Invoice description, Main supplier, cost and sell prices, measure, alternate code, movement, transactions, pictures and notes are only ever a mouse click away.
Item Categories
Each Item belongs to a Category that allows Items to be grouped and summarised.
Drill Down Information
Where appropriate drill downs are provided to take you quickly to source data. For example:
- Click on an outstanding balance and see a list of the outstanding transactions.
- Click on a Sales / Purchase total for the month to see a list of the transactions that make up the total.
- Click on a transaction to see the details, including payment allocations.
Define Transaction Types
You may define your own types of transactions to customise entry. For example, show only the fields you wish to enter or set-up standard defaults. This allows you to make transaction entry faster and more relevant to your organisation’s procedures.
Open Item and Receipt Allocation
Full open item processing is utilised, so you may allocate customer receipts against specific invoices, or alternatively you may not wish them to be allocated at all (for example a layby deposit). Receipts may subsequently be reallocated as necessary.
Invoicing
Both Customer and Supplier invoicing displays critical information on screen and provides logical, keyboard friendly data entry.
Invoices and Statements
Debtors Invoices and Statements can be printed using the standard format or custom defined using MS Word and VBA. Custom Forms can be e-mailed or printed as required.
Payment of Supplier Accounts
Payments (cheques and/ or bank direct credits) may be produced by the system, processed manually, or a combination of both. Payments can be calculated, and schedules may be printed, showing the effect on outward cashflow if certain criteria are applied to payments. Multiple criteria may be applied to a payment run and then individually edited if necessary, before committing the payments, printing cheques or completing a direct credit schedule.
Print your Cheques
You can print cheques directly through the system. Cheques can be voided and re-printed at any time until presented. The layout of the cheques is User definable.
Bank Interface
Interfaces are provided to all major trading banks in NZ for Direct Crediting Supplier payments, Direct Debiting Customer payments (Direct Debits is a separate Add-On), and importing transactions.
Transaction Import
Transactions may be imported from a number of different applications and in a number of different formats. This includes Intersoft’s fdPOWER, Performer Series and Bank formats.
General Ledger Interface
All transactions are posted immediately to the emPOWER General Ledger and Cashbook systems if in use. Here full cashbook facilities including Bank Lodgements and Bank Reconciliations may be processed.
GST Analysis
emPOWER is a dream when analysing GST. As you process transactions, GST (NZ or Australian) is automatically recorded, and full Audit Trails are maintained. Flexible tax facilities are available so that you may set up multiple levels of GST. GST reports for both invoice and payment methods are available.