Creditors

A unique account number is allocated to each creditor record. Purchases, creditor invoices, shipments and import cost invoices are recorded against a creditor number which raise creditor liabilities.  A history of these details together with payments made, and credit and or debit adjustments raised are displayed in the Transaction Tab of the creditor record.  Creditor transaction history details and balances are updated when:

• Creditor purchases, shipment invoices, import cost invoices,  purchase invoices and Supplier return credits are committed, and
• Cheque payments, creditor payments, debit and credit adjustments, Cash Book payments and  Bank Reconciliation directs are activated
  

The option exists within Jiwa to allow creditor accounts to be rolled over on a Weekly, Fortnightly, Monthly period basis.  

The Period Roll-Over processing ages the balances out by one period regardless of the dates within that period that the invoices where raised.

For example, a purchase invoice dated 15 June 2012 aging at June 2012 month end Period Roll-Over ages any amount still to be paid on that invoice into Period 1 or 30 days.  The month end is run in July 2012. This information is displayed in the Financials Tab of the Creditor record.

Jiwa has the ability to handle foreign exchange currency for creditor accounts. Refer to Foreign Exchange for more details.

Staff and role permissions can be set that determine which Creditor forms are viewed by each staff member and/or role.

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