OPTIONS FINANCIAL MANAGEMENT
What is OPTIONS Financial Management?
OPTIONS maintains a detailed audit trail for all customer financial transactions, organised by the following transaction types:
- Orders
- Despatches
- Returns
- Miscellaneous Credits and Debits
A customer’s financial history can be viewed from the total current account balance through to the financial makeup of an individual order.
OPTIONS is a multi-currency system.
The financial history is a principle component of the overall customer history, and is therefore available to support all other aspects of customer services.
Financial Accounts Interfacing
• OPTIONS interfaces to a variety of financial systems are available, these include Sage and Open Accounts.
• OPTIONS maintains a sales ledger for sales processed through OPTIONS.
• Standard OPTIONS interfaces, post summary sales information to the general ledger, and costed receipts to the purchase and general ledger for supplier payments.
VAT
• VAT calculations are managed within OPTIONS for UK, EU and Non-EU sales.
• VAT coding for customers and products, and the presentation of VAT data on sales invoices are managed within OPTIONS.
What is OPTIONS Business-to-Business?
OPTIONS Business-to-Business enables users to manage trade or wholesale customers, offering invoicing with credit limits and payments terms etc.
Cash Posting
Cash posting facilitates:
- Specific invoice allocation.
- Roll forward from oldest or given invoice with balance on account.
- Payment on account with no specific allocation.
- Allocation of previous payments on account.
- Allocation of credit notes.
Debtors Analysis
For each debtor, the debtors analysis is constructed from:
i. Invoices not yet paid
ii. Cash and credit notes not yet allocated against invoices and balancing to the current sales ledger balance.
As a memorandum for each debtor, the total value is given of any outstanding sales orders with a payment method of invoicing, which have not yet been invoiced.
Statements
Open item statements are produced on user request, the statement shows:
i. All outstanding invoices.
ii. All cash and credit notes allocated since the last
statement.
iii. All unallocated cash and credit notes.
Statements can be produced for all or user selected customers.
Dunning Letters
Dunning letters are produced upon user request, the letter content is defined and maintained by users through OPTIONS.
OPTIONS Financial Management – Related Additional Modules
Please see:
If you would like further information about OPTIONS, or would like to discuss your system requirements with one of our business consultants, please go to Contact Options.
