Purchase Payment module

Supplier payment accounting means recording the physical movement of money precisely — to whom, how much, and against which invoice and contract. In the Purchase Payment module of One Soft ERP, the finance team pays approved invoices according to contract terms, and accounting postings go to Finance automatically.

When payments are tracked through bank statements and spreadsheets, it takes extra work to see which invoices are paid in full or in part, how much is still owed to a supplier and how a payment affects the budget. In the Purchase Payment module that information is created with every payment.

Purchase Payment module – is the payment process itself. The physical movement of money takes place in this module. Upon receiving an approved invoice from customer, the finance team processes payments into the system according to the contract terms. Any contract changes or reviews of liquidated financial security is being taken into account.

Payment can be made in full or in part in the Purchase Payment module. Settlements directly from the bank, cash settlements are made through the Purchase Payment module. And, of course, at any payment, the accounting postings automatically go to the Finance department. This, in turn, speeds up and simplifies the entire purchasing process.

When the link between payments and budget isn't tracked, cash flow becomes invisible. The Purchase Payment module ties every payment to contract terms and budget, removing that blind spot.

Who it's for

• Finance and treasury teams paying suppliers regularly
• Companies that must tie payments to contract terms and budget
• Businesses working with partial and staged payments

How it works

1. 01An approved invoice becomes ready for payment.
2. 02The finance team creates the payment document according to contract terms.
3. 03The payment is made by bank or cash, in full or in part.
4. 04Accounting postings go to Finance automatically.
5. 05The payment stays linked to the invoice, contract and budget.

Key capabilities

• Payment documents created from approved invoices
• Full or partial payment
• Bank and cash settlements
• Contract changes and financial-security cases taken into account
• Every payment linked to contract terms and budget
• Accounting postings passed to Finance automatically
• Amount paid and balance owed visible per supplier

How it connects to other modules

Purchase Payment is the last link of the purchasing chain: Requisition → Bid → Purchase Order (PO) → Purchase Invoice → Purchase Payment. Because the payment is tied to the invoice and the invoice to the order, you can trace which purchase and which original need every payment belongs to.

Requisition module Bid module Purchase Order module Purchase Invoice module

Benefits

• Cash flow becomes visible
• Payments stay within contract terms
• Accounting postings are not re-entered by hand
• The whole purchasing process becomes faster and simpler

Frequently asked questions