Managing your payment to suppliers is important for your business's cash flow management and budgeting. Knowing who you owed and the due date for each payment allows you to make a wise decision for your business to go forward. Ultimately, you do not want to spend on new inventory when you need the money to pay upcoming bills. Additionally, it may also be costly if you don't keep your payments to suppliers up-to-date.
How to keep track of your payments to suppliers?
You can easily keep track of the supplier's payment if you have a list of suppliers' invoices with details below:
- Supplier details (name, address, contact number, email, etc)
- Amount owe and details of items purchased from them
- Payment term or the due date for each payment.
With TreezSoft Cloud Accounting, you can easily keep track of your supplier invoices details and also check the amount and status of the invoice (fully paid, partially paid, or confirmed).
Furthermore, you can generate various supplier reports to check on the ageing supplier invoices and payments made for each supplier in just a few clicks.
Below is an example of the TreezSoft Supplier Ageing Summary report.
You can visit this link for more information on the supplier reports in TreezSoft.
Other reports that you can generate in TreezSoft includes Supplier Invoice Dues reports, Supplier Statement report, Purchase Report by Supplier and etc.
More information on Supplier reports in TreezSoft is available in this blog.
You can read more on the supplier module in TreezSoft by visiting these links:
TreezSoft is a cloud accounting software for Small and Medium-sized Enterprises (SMEs). It allows you to access your financial information anytime, anywhere. It also allows you to have unlimited users for FREE for your account in TreezSoft. Our aim is to help reduce our clients' time spent on accounting mainly by using our automated processes and integration to help increase their company effeciency at a minimum costs. SMEs can use TreezSoft to keep track their expenses, accounts, daily operation e.g. Point of Sales (namely QPOS) system and etc.
Visit TreezSoft at http://www.treezsoft.com/ to sign up for a 30 days trial account with us!
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