Sales & purchase contras
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Sales & purchase contras
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This feature reduces administration for companies that trade as
both a customer and a supplier. By enabling customer/supplier codes
to be matched, outstanding transactions can be 'contraed', reducing
the overall number of invoices/orders that require processing.
Quick and easy
Once it's been agreed that it's more efficient to contra a
transaction, simply open the contra window and enter the reciprocal
code. Double-click or run the auto balance, and the contra is
complete.
Settlement discounts are taken into account without any
re-keying, and the corresponding adjustments automatically created
in each ledger. For audit purposes, a full allocation history is
fully viewable from either the sales or purchase ledger.
Inter-company trading
You can also link multiple customers to a single supplier and
vice versa, increasing efficiency in a holding company/subsidiary
environment where many inter-company transactions take place.
VAT return
VAT reports can be produced on a monthly or quarterly basis, and
reprinted at any time for flexibility. The VAT return is generated
in the standard HMRC format for ease of submission with a full
corresponding audit trail.
Further information:
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