WinMAGI's Accounts Payable (AP) and Accounts Receivable (AR) functions closely mirror each other. AP delivers a variety of features that help you manage how you pay money to suppliers. AR provides similar features to manage how you collect money from customers. The general ledger is the heart of WinMAGI's financial capability. It follows generally accepted accounting principles (GAAP). And, general ledger transactions can be conveniently imported from sources outside WinMAGI.
Product Benefits
Transactions that cannot be posted due to errors are highlighted, and WinMAGI will identify the erroneous data (i.e. missing part number, PO number, operation number, customer number, account number and more).
Transactions are seamlessly integrated with the rest of the WinMAGI system. And, all transactions can be automated or manually posted.
Impressive drill-down capabilities from summary data provide detailed views for each entry.
A streamlined process for accounting period and year end closings makes tasks efficient.
The "closed period adjustment" option enables corrections to be made to a closed period. These corrections will automatically roll forward to update any subsequent closed period.
Product Features
Aging reports
Supplier/customer specific payment terms
Supplier specific payment cycles/customer specific invoicing cycles
User defined approval levels for write-offs
Real-time integration with receiving/shipping
Thorough transaction histories
Exceptional drill-down capability
Color codes differentiate status of various accounts
Automatic posting to general ledger or batch posting
Accounts Payable-Specific Features
Check register
User defined distribution to general ledger
Aggregate projected cash outflow
1099 vendor summaries
Accounts Receivable-Specific Features
Finance charges
Insufficient funds charges
Cash receipts processing
Commissions paid when invoiced or payment received
