Overview

Kingdee K/3 Accounts Payable is intended for transaction managers in manufacture enterprises, trading companies, administrative units, and public institutions. This module covers the entire A/P workflow from contracts payable, Purchase Invoices, Payment Requisition, payment, refund, Bills Payable, and accounts payable settlement. It also supports integrated transaction management such as auto voucher generation, warning of debts due, and auto reconciliation with the general ledger and business partners. In addition, it provides management reports of Aging Analysis, Payment Analysis, and Trend Analysis. It helps enterprises pay money due, allocate and distribute capital rationally, and improve the capital utilization. The module can work with General Ledger, A/R, Report, and Cash Management to work as a complete finance solution, or work with Purchase Management, Sales Management, Inventory Management, and Inventory Accounting to work as a complete supply chain solution.

Business Workflow

Functions

1.Contract management

The module supports functionalities such as contract maintenance, contract change, contract execution control, and associated query of documents regarding one specific contract. It can manage and control the whole process throughout contract execution from placing order, delivery, billing to payment collection. Meanwhile, each transaction during this end-to-end process can be tracked by querying some system built-in reports.

2.Bills management

The module provides comprehensive handling and trace for commercial bills. A Bill Payable can generate a Payment Note or Prepayment Note automatically upon approval for later settlement. The module also supports further business handling for Bills Payable, thus helping enterprises monitor issuing, payment, and cancellation of Bills Payable.

3.Settlement management

The module can receive invoices from Purchase Management module. It also allows you to add an invoice and Other Payables. These invoices and payable documents are used as references for enterprises to identify debts, which are settled via Payment Notes or Prepayment Notes.

There're seven settlement modes supported in the system such as payment settlement, prepayment offset A/P, and A/P transfer, etc. A variety of settlement methods can satisfy the different business needs of collection by product details, contract or order. The module also supports multiple write-off modes including manual write-off, auto write-off, and auto write-off upon approval. It enables enterprises choose the best suitable settlement solution according to the highest priority and maximum profitability principle of its operation so that the required analysis in reports can be presented.

4.Voucher management

The module supports generation of vouchers in template or non-template mode. User can select a mode according to his preference. When a voucher is saved, the module checks the currency, total amount, and fiscal period in the transaction accounts of vouchers and gives detailed prompts of inconsistency in real time to help minimizing operation errors.

5.Reconciliation

The module supports the reconciliation with General Ledger. Two reconciliation modes are supported: reconciliation by total amount and reconciliation by transaction accounts. With this function, an enterprise can reconcile its business information and financial information at any time to detect and eliminate the inconsistency between finance and business.

6.Foreign currency accounting and EoP foreign exchange adjustment

The module supports the handling of A/R and collection transactions in multiple foreign currencies. It automatically calculates the exchange profits/losses of the accounts payable in foreign currencies at the end of a fiscal period and generates the exchange profit/loss transfer voucher and Foreign Exchange Adjustment. The exchange profit/loss transfer voucher is forwarded to General Ledger. The Foreign Exchange Adjustment can be queried with easy access to history currency changes and the exchange profits/losses of each period. This module satisfies the business requirements of foreign currency accounting and EoP foreign exchange adjustment

7.Rich report data

The module provides various reports: A/P Details and A/P Summary based on the time sequence of transactions; Aging Analysis, Transaction Reconciliation, A/R Due and Overdue Report, and Monthly Settlement Statement based on the unsettled document balance; various analysis reports including Turnover Analysis, Payment Analysis, and Trend Analysis. These reports enable enterprises to quickly get to the amount incurred and balance of A/P and provide rich basic data for enterprises to personalize their management reports.