Extension Module : Advanced Payables and Receivables

Managing your financials with a fully integrated ERP does not have to be difficult. With Advanced Payables and Receivables, Openbravo combines the power and flexibility of an enterprise-grade financial application with the simplicity and usability of a web 2.0 personal accounting service.

Advanced Payables and Receivables Management is a module that simplifies and automates the business processes around the management of financial accounts, from the receipt and issue of payment, to the reconciliation of those events with bank statements. It is a complete payment management system that provides an enhanced user experience, and fully automates and audits all payment and reconciliation processes.

If you want to improve collections and cash management through automation and streamlined financial processing, then Advanced Payables and Receivables Management is for you. All new Openbravo Professional Edition subscribers are strongly advised to implement this module--it is a significant functional improvement, and provides the basis of all future development for the financials functional area.

Advanced Payables & Receivables is included with QuickStart 2, and is fully compatible with the Spain and U.S. Professional Localization Packs.

Note: This module currently applies to new customers only. An automated migration script for current customers will be made available soon.

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Benefits
Functionality
Specifications

Improve collections
Improve cash management
Save time through robust automated bank statement reconciliation
Improve purchasing controls
Avoid late payments
Reduce transaction overheads with automated payments
Empower sales team to better manage their clients (without consuming finance resources)

Brought to you by:

Openbravo, the award-winning developer of Openbravo ERP—the leading web-based, commercial open source business management solution for SMBs worldwide.

Description

The Advanced Payables & Receivables module includes the following key features:

Setup

define new payment methods
matching algorithms

standard algorithm provided
others may be added via modules

bank file formats (to import bank statements)

others may be added via modules

Payment plan for detailed control and auditing of the process
Payment execution feature

allows generation or printing of payment instruction files
provides support for check printing
enables easy integration with electronic payment platforms

Pay invoices, orders, or GL
Mass payments across business partners
Integrated background processing
Automated reconciliation, by financial account - shows pending transactions to be cleared

beginning balance, ending balance, amount to be cleared
audits the process by generating a separate reconciliation document
matches bank statement against financial transactions

can also do manually

Import bank statements

Cuaderno 19, 43, 51, format for Spain is supported via a separate module

Uses new UI Selector for improved user experience selecting data
Benefit from the advanced analysis features the optional Payment Report module provides

See all payments made or received at a glance
Extensive filter criteria, grouping and ordering options
Conversion of all shown payment details to a base currency as of a given conversion date
Calculation of sub-totals by grouping criteria and payment status, and grand total of the report
Export to HTML, PDF, Excel
Direct links to related Invoices and Payments

Advanced Payables & Receivables delivers a comprehensive set of integrated functionality, and includes extensive documentation. To learn more about this exciting module, please review: