Hardware POS Accounts Payable Software - Building Materials System for the Lumber Industry by Windward Software Inc.

Accounts Payable Feature Overview | HardwarePOS

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 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.

Buying Group Support

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.

Writing Checks

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.

Time Payments - Paying Over Several Months

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 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.

accounts payable tracking for the lumber and building supply industry

Entering Accounts Payable Bills is Easy.

Normally, when you receive inventory, the total amount of the purchase is posted to just one ledger number, account 1200 in this example. This is because the inventory being received is detailed on the Add Stock entry in the purchase order section so there is no need to duplicate this information.
If you purchase a lot of inventory at one time and negotiate the option to pay it in installments such as 3 equal payments, Windward will track those distributed due dates and remind you when you need to pay the bill and how much to pay.

While creating a bill, you can link it to the original purchase order to ensure the prices are as you agreed and that you have received the goods. There is not profit in paying for items you have not receive

Hardware Store Point of Sale Brochure
Windward System Five Lumber and Building Materials Supply Software is configurable to the different types of inventory requirements for your Hardware and Lumber Supply Store. Several pricing strategies and inventory designs are available.