ACCOUNTS PAYABLE (Trade Creditors)

Shoebooks offers two different ways to handle accounts payable:

Online:     

• Customer sends unpaid bills direct to Shoebooks for entry
• Customer makes payments based upon information in Shoebooks accounting software.
• All payment information will be securely stored in Shoebooks to allow for either EFT File creation or manual payments using BPAY, EFT or cheque.

Offline:

• Customer sends bills to Shoebooks as they are paid.
• Shoebooks enters the bills when received
• At year end customer needs to send a copy of any unpaid bills.
• Accrual Method Bas customers also need to send a copy of unpaid bills at the end of each quarter.

The online method is far more efficient and allows the customer to use the Shoebooks software to manage payment of bills. The online method also provides for more accurate and timely reporting. E.g. Profit & Loss.

The offline method is used by customers that do not like to pass on unpaid bills and like to do things manually. Offline is best suited to clients registered for Cash BAS reporting.

Receipt of Bills

• Code bills to appropriate chart account.

• Enter bills into system per coding.

• File into Current A/P folder.

• Return to client

Payment of Bills

• Perform psychical payment via cheque, c/c or direct deposit. Send remittance and mark bill with payment details.

• Apply bill payments in the accounting system

• File “Paid” into Archive A/P folder.

• Maintain schedule of unpaid bills

• Handle enquiries from suppliers in relation to payment of their account.