Finance

Openda knows the importance of profitable sales and how delayed payments can affect cash flow and therefore hinder the development of your company.

The QX sales ledger universal access module (UAM) gives access to all of the information required to prevent bad debts, whilst ensuring valued customers receive the prompt service and transaction processing they expect.

The automatic credit check and credit release functions allow you to set the levels of credit for a customer and process orders with the security of knowing that Openda will control the release and dispatch of goods set by your requirements.

Valuable tools within the Sales ledger UAM also include detailed customer history, customer statements and customer terms and conditions – all essential information when controlling the cash flow of a growing company.

The production of debtors letters, statements, invoices and credit notes are produced directly from the Sales Ledger UAM, ensuring customers receive professionally produced documents, delivered in the format they require. i.e. via post, fax, email or using the QX EDI capabilities.

The complexities of a multi site, multi currency customer, generating group orders and requests are all handled with QX.

Openda understands the importance of having effective control of suppliers’ accounts. This is only ensured by maintaining precise, up to date records.

The QX purchase ledger is a multi-currency, open item ledger with all its invoices and credits input directly. Invoices may be trade invoices reconciled to receipt lines or overhead items.

Each of these are directed by the process map of nominal links, to the relevant nominal account, streamlining your business and reporting needs.

The ease with which the system is used encourages fast, accurate posting of invoices, credits, debits and payments. Instant access to detailed purchase ledger history ensures your purchasing team can negotiate the best purchase price for your goods, materials and stock.

The QX system allows for semi-automatic payment runs to be planned, generating documentation direct to your suppliers via fax, email or post.

Payments can be generated according to the due date entered when the transaction was input, taking full advantage of any special payment terms or discounts you may have. However, once the payment list has been generated it can be modified as required, including removing entries, adding entries not selected or adding payments on account.

The multi-currency facilities allow automatic recalculation of foreign transactions back to home currency, supporting your international trade.

Today’s financial departments need instant access to detailed transaction and financial information without needing to move repeatedly around a system to find it.

The QX system has at its heart a very powerful tool in the Nominal Ledger. This is the central repository for key financial data where every action that has taken place within the purchase ledger, sales ledger, cashbook and inventory appears as a detailed entry.

Transparency within the nominal is paramount, with users able to trace, in detail, transactions made by sales invoice or stock movement to the nominal account being updated. In the reverse manner, from the highest level of reporting by main nominal code, the user can drill down quickly and easily to the detailed transactions that made up the balance.

Standard reports such as Trial Balance, Profit & Loss and Balance Sheets can be found within the nominal ledger along with flexible enquiry tools, which produce reports with graphical outputs to highlight trends or year-on-year comparisons.

Postings from sub-ledger transactions are processed by a powerful mapping tool termed Nominal Links. This provides a clear and traceable means of determining the account selected for the posting. The posting is determined by a number of parameters including transaction type, product range and group, division and warehouse.

As part of the direct journal posting facility within the ledger, there is provision for Standard/Recurring Journals and Reversing Journals.