Purchase-To-Pay – Efficient. End-to-End.
VersAccounts includes a fully integrated Purchase-To-Pay solution that offers tools to manage each phase of the procurement cycle including Requisitions, Purchase Orders, Approved Vendor Lists, Receiving, Returns, and Accounts Payable. Implementing your procurement process with VersAccounts allows you to automate each step to the maximum extent possible providing better control and increased visibility into the transaction lifecycle.
Spending controls can be easily implemented and real time access to information on who is spending, what they are buying, and how much they are paying for it to which vendors is available in a mouse click.
The result is not only reduced processing times and cost savings, but improved cash flow forecasting and capital management all made possible because VersAccounts provides you with a single, unified view of the whole Purchase-2-Pay cycle.
Purchase Orders – Manage Your Purchasing Cycles
VersAccounts Purchase Order functionality allows organizations to purchase inventory and non-inventory items. It includes the ability to create vendor-specific pricing policies for each purchased product or service, establish pricing policies that can be set to match specific criteria such as currency, quantity breaks, units-of-measure and vendor, specify applicable discounts/surcharges by line item, establish contract and blanket purchase orders and generate purchase orders based on contracted pricing from Approved Vendors.
Customized features include allowing organizations to establish: replenishment minimum setpoints. Purchase Orders can have different ship-to and bill-to locations. Expected delivery dates can be designated for each line item. Invoicing can be automatic or manual. And VersAccounts multi-currency capabilities can be used to create Purchase Orders in any currency.
Reduce data entry errors and increase efficiency by creating Purchase Orders from Sales Orders when incoming products have to be shipped to customers. Additional automation includes the ability to create a purchase order from a sales order when the vendor is the same as well as the ability to roll sales orders into corresponding purchase orders without having to re-enter the order information.
Approved Vendors List – It’s Easy. Not Approved? No Purchase.
Setting up Approved Vendor Lists (AVL) in VersAccounts is easy. AVLs can be setup on the basis of supplier evaluations, supplier master data, and contracts for Purchasing to utilize. AVLs can be created for products or for product categories.
Implementing an AVL ensures that all departments are complying with agreed upon contracts and prevents purchases of products from unauthorized vendors that do not meet organizational standards or security compliance requirements.
Receiving & Returns – Automated. Efficient.
VersAccounts automated receiving and returns capabilities empowers your receiving department to correctly manage incoming inventory in the most efficient way possible. With VersAccounts, you can receive any outstanding items, against any number of outstanding Purchase Orders, from a vendor with a single-click. In addition, returns are easily managed and tracked within VersAccounts by specifying and logging rejected items against any number of product rejection reasons. And, automatically generate purchase-return documentation, with allowance for vendor RMA requirements
Leverage these powerful features to help the purchasing and receiving teams collaborate through shared information as they track, manage, and improve vendor performance.
Accounts Payable – Manage When You Pay. How You Pay.
VersAccounts Accounts Payable feature allows you to easily enter and pay your bills from any cash account or credit card, in any currency. Pay any number of bills with a single payment or pay any combination of line items on a bill.. Take discounts on bills, either when entering them or when you pay them. Define any number of discounts or surcharges, with default fixed or relative adjustments as well as establish and automate pre-defined vendor terms such as payment terms, discounts, general ledger accounts, payment priority and payment dates – you control what and how much gets paid
Track billed items easily by linking bill items to their related receipts of services, inventory items, or fixed assets. Improve billing tracking for projects by linking bill items to projects and display summaries of expenses incurred on a project-by-project basis.
VersAccounts helps save time and reduce errors by automatically creating vendor specific reverse entries when the vendor invoice varies from the Purchase Order information entered – this is especially help when managing and tracking inventoried materials. In addition, VersAccounts enables your organization to track payment reconciliation status to avoid reissuing payment that have cleared that the bank.
Maximize productivity by using the system’s extensive drill-down and drill-around capabilities to track transactions step by step back to their origins. For audit and compliance requirements, VersAccounts provides multi-year history of accounts payable transactions with the default set at 20 years. So you can be sure that if you used VersAccounts to capture the transaction – it will be there 20 years from now!
When combined with Accounts Payable, Inventory Control and Order Entry, the Purchase Order capabilities in VersAccounts provides a comprehensive, integrated Purchasing System.