AccountMate 7 for SQL and Express: PO

AccountMate
Software
Corporation

With AccountMate’s Purchase Order module, you have better control over a full range of purchasing activities. You can record vendor lead times and plan purchases based on
lead time, safety stock, reorder point and
reorder quantity information.

You have the option to automatically accrue liability on purchases at the time goods are received instead of waiting to post the liability through
Accounts Payable. Accrue liability for received goods by the item’s received quantity or by each Purchase Order receipt’s amount as well as accrue and allocate landed cost.

For each purchasing decision, you have an abundance of
information about each inventory item at your fingertips, enabling you to select the right item, every time. When your Purchase Order system
is integrated with AccountMate’s
Accounts Payable module, you can require that accounts payable invoices be supported
by purchase orders before being recorded in the system.

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AccountMate 7 for SQL or Express
Purchase Order Module

Instant Access to Vendor Information

Always have instant access to a vendor’s balance, open debit, available credit and year-to-date and accumulated-to-date purchase totals while processing a purchase order. You can also preview the purchase order before it is printed to ensure accuracy and compliance with your purchasing policies.

Comprehensive Inventory Information

Each inventory item record can have a picture of the product. Product notes can be added in the accompanying inventory notepad. These powerful tools can be quickly accessed while placing orders with vendors to reduce the potential of placing an order for the wrong item. Inventory information—such as on-hand quantities, on-order quantities, booked quantities, item classes and product lines—is also visible on the purchase order screen.

Create Purchase Order by Vendor—Line Items Tab

Enhanced Vendor Maintenance Functions

Track and View YTD Purchase—View details of your Year-to-Date purchases from a vendor to facilitate negotiations for better pricing and credit terms or to process purchase orders. Year-to- Date purchase information is calculated based on your company's total purchases from a vendor within a user-defined year.

Vendor Ledger Card—Drill down information displays details of the vendor’s balance, showing the invoices, prepayments, payments and invoice distribution.

Activity Tab—Record and track in detail contacts made with the vendor through the Activity tab. You can define an unlimited number of activity records, with unlimited status values to represent different contact phases for each activity. Define access rights for various AccountMate users to view and/or update Activity tab entries.

Archive Deleted Vendors—Inactive vendors that have no outstanding balance can be deleted and archived. Archived vendor records can be reactivated at any time, eliminating the need to re-enter data.

Purchase Scheduling and Material Requirements Planning for Inventory Items

To facilitate customer order processing, set the system to check inventory on-hand quantities. Since stock items and manufacturing components may be purchased, you can enter vendor lead time information. This data combined with safety stock, reorder point and quantity is available on the Purchase Requirement Report that you can use as an aid to schedule your purchases and for material requirements planning.

Multiple Functions Expedite Purchase Order & Quote Creation

Easily create purchase orders and quotes by choosing from among four different Purchase Order and Purchase Quote creation options:

By Vendor—best used when items are purchased from specific vendors
By Item—best used when items may be purchased from multiple vendors at different costs, warranty terms and lead time
By Sales Order—best used when purchase orders are intended to fill specific customer orders
By Reorder Quantity—best used when processing orders based on predefined inventory reorder policies (i.e. safety stock, reorder point and reorder quantity)

By using the Purchase Order Creation options, you let the system recommend the best-price vendor for each item selected for purchase.

Support Multiple Warehouses on a Purchase Order

Assign a different receiving warehouse to each purchase order line item to facilitate processing of a single purchase order that must be delivered to multiple locations. For multi-delivery-location orders, each warehouse address is printed at the bottom of the purchase order document.

Purchase Receipt Accrual Options

Users have the option to accrue liability for purchase receipts for which no invoice has been received so that your inventory quantities match the inventory General Ledger account balance. When accruing liability for these receipts, choose between two accrual options: by line item quantity or by receipt amount. Companies that invest heavily in inventory may choose to accrue by line item quantity to allow for a more detailed matching of their purchase receipts against their vendors’ invoices. Others may opt for the convenience of accruing by receipt amount especially when they purchase few inventory items from one or two vendors and invoiced costs very rarely vary from estimated PO costs.

Accrue Landed Costs

When importing inventory items from a foreign vendor, you will incur additional costs to transport these items to your warehouse. These additional costs, sometimes referred to as landed costs, include shipping costs as well as cross-border fees such as import duties and taxes. Since these costs can be substantial, it is good business practice to separately track and account for these landed costs. The Purchase Order module allows you to accrue landed costs and allocate them among the purchased items to correctly reflect inventory costs and more accurately determine profit margins. When integrated with the Accounts Payable module, you can reverse the accrued landed costs when you record the corresponding vendor invoice.

Define Complex Discount and Due Date Terms

An unlimited number of pay codes can be created to define the terms of sale granted by your vendors. Complex discount and due date terms can be defined through a date table. Define the discount day, discount month, due day and due month of invoices dated on or before a particular day of the month, or choose to use End-of-Month discount and due terms. You can assign a default pay code to each vendor, thereby reducing order entry time. You are able to overwrite the default pay code for each purchase order that is processed.

Built-in Multi-Currency Feature

When multi-currency is activated, a foreign currency code can be assigned to a vendor, providing billing in the appropriate currency. This allows estimated purchase costs for items sourced from foreign vendors to be properly recorded and allocated.

Blanket Purchase Orders

You can set up and authorize orders for a certain quantity of inventory items within a specific period of time. This allows your company to lock in any special price and/or discount offered by the vendor. Blanket purchase orders are automatically converted into purchase orders when released, thereby enabling you to process receipts against the released orders and track outstanding orders. An expiration date can be established for each blanket purchase order.

Import and Export Purchase Orders

Making use of the built-in flexibility of the Purchase Order module, you can create purchase orders by importing data from a text file. In addition, you are able to export existing purchase order data to text files. Both features allow you to select the actual import/export fields and the order in which these fields are arranged in the file, thereby saving data entry time and improving order accuracy.

Mass Cancellation of Purchase Order Backorders

Easily cancel backorders from a range of purchase orders so that your inventory on-order quantity reflects the actual outstanding purchase orders only. This function allows you to set parameters for canceling backorders. Indicate one or a range of vendor numbers, buyer names, purchase order numbers and/or order dates. Each qualified purchase order record is displayed along with the line items and quantities that are backordered. To cancel, all you need to do is select the check box beside the purchase order record.

Multiple Vendors Tracked for Each Inventory Item

Inventory items may be purchased from different vendors at different units-of-measurement. When Purchase Order is integrated with the Inventory Control module, multiple vendors can be tracked for each inventory item, with each vendor’s price converted to the smallest unit-of-measurement for effective comparison. A Best Price Listing feature aids in determining the best vendor price to help keep purchasing costs at a minimum. If you have foreign currency vendors, enter the inventory item’s unit price in the vendor’s currency and eliminate manually converting vendor prices. When creating purchase orders, the system uses the inventory vendor record to recommend either a designated default vendor or the best price-per-unit vendor.

Temporary Vendor Option Helps Manage Number of Vendor Records

Assign a “Temporary” status to your vendor records which will be archived during period-end closing when their balances reach zero. This keeps such records separate from your active vendor list, allowing you to keep it at a more manageable size.

Integration with General Ledger, Accounts Payable, Inventory Control, Return to Vendor Authorization and Sales Order Modules

Integration with the General Ledger module enables the easy posting of journal entries for accrued purchase receipts to the General Ledger permanently.
Integration with the Accounts Payable module allows the recording and tracking of a purchase transaction from order entry, through receipt and invoicing, to payment. This allows for more effective management of your vendor base and inventory. Reverse accrued liability on purchase receipts and reverse accrued landed costs when you record the vendor’s invoice.
With the Inventory Control module, set up different warehouses and bins for your inventory, assign various cost methods to each item, enter vendor lead time information for each item and define different units-of-measurement to be used in your purchase order and receipt transactions. Comprehensive inventory information is available throughout the different stages of the purchasing cycle.
With the Return to Vendor Authorization module, more effectively track the progress of returns. You are able to copy the returned line items from an existing purchase order and cross reference the return quantity against the original Purchase Order. Use the purchase date with the vendor warranty information to validate whether the purchase return is within the warranty period.
With the Sales Order module, create purchase orders for open sales orders to ensure that you carry only enough items to fulfill customer orders and reduce your inventory carrying costs.

Other Features

Convert purchase quotes to orders
Vendors can have unlimited order addresses
Cancel invoiced and un-invoiced purchase receipts
Stock and non-stock items on the same purchase order
Review and print archived purchase orders
Inactive vendor and inventory item setting prevents further use in transactions

About AccountMate

Since 1984, AccountMate Software Corporation has provided customers with powerful and flexible accounting and business management software. AccountMate provides the most stable and technologically innovative modifiable accounting solutions for the mid-market. The accounting systems are sold by the module which enables customers to acquire the software they initially need and add modules as their business needs evolve. The availability of source code makes this software highly modifiable so that it can be adapted to any changing business environment.

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