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ID:10282
Title:It's "Payables Management" NOT "Invoices I need to pay"
URL:http://belindaallen.blogspot.com/2010/06/its-payables-management-not-invoices-i.html
Description:
One of the most frustration situations I come across is when I walk into an existing user of GP only to find they are using Payables Management (PM) as a fancy check writer rather than a tool to manage payables.

I often wish I had a portable soap box to stand on when I say "enter all of your every day and you'll reap all kinds of benefits!"

If you enter ALL invoices in PM every day, you can take advantage of tools. You can answer all of the following questions:
1) How much do we have outstanding right now?
2) What's due through next week?
3) How much is past due?
and more...

This is what PM is all about. Bank Reconciliation can print a check, payables is designed to help you track invoices by vendor, update the GL of transactions from invoices and their payments, determine when an invoice is due and when it's best to pay... Basically its a way to MANAGE your payables, hence the name Payables Management.

Did you know there is a report called Cash Requirements where you can enter a date and the system will show you all invoices due by that date with a total dollar amount?

Did you know the Cash Flow Module will look at PM and determine how much cash is due to flow out of the company by that due date?

Don't do extra work, let PM help you!
Category:TIPS AND TRICKS BY MODULES: PM (Payables Management)
Link Owner:
Date Added:June 17, 2010 06:05:57 PM
Number Hits:46
RatingsAverage rating: (0 votes)
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