General Ledger

This module gives you a flexible and clear presentation of critical financial information. It receives data from manual and reversing journals, entries from other accounting systems, intercompany journals, and recurring and standing journals. Data is captured and transferred directly by other modules (such as Accounts Payable, Accounts Receivable, and Inventory Accounting) or entered manually through journal entries. All general ledger transactions can be traced back through the journal to the originating document or payment record. Data such as account balances, statistical data, budget data, and historical data is maintained on the database. You can measure planned-versus-actual performance for each unit in your organization, control many budgets and periods simultaneously, and post on demand. This information can be extracted by the report writer to product reports that meet your business needs.

Accounts Payable

This module supports several flexible methods of defining payment terms and discount deductions. When invoices are entered, a three-way match facility may be used to match invoices to purchase orders and receipts from the Purchasing application. Matching variances are automatically captured and accounted for. Cash forecast lists all items scheduled for payment according to user-specified payment cutoff dates. To simplify the payment process, the system can automatically generate checks, remittance advices, and maintain information regarding manually prepared checks. Vendor histories provide a complete analysis of all transactions for each vendor.

Accounts Receivable

This module processes customer payments and maintains payment history information based on your organizational structure. It gives you the information you need to track one of your most important assets and improve collectabiity. Customer invoice and payment transactions are entered through an on-line data entry conversation or are created by the Order Processing module. The Electronic Data Interchange (EDI) module allows MAC-PAC XE to send invoices electronically. Full validation and posting are performed on-line, ensuring that you can always access the most up-to-date data.

A combination of credit management reports and on-line conversations provides you with an interactive tool for managing credit information. You can review customer credit information including payment history, outstanding invoices, and aging amounts. For corporate customers, you can view credit history for each sub-entity as well as the total commitment for the corporation. Credit checking can also be performed at either the sub-entity or the corporate level. Based on past customer performance, Accounts Receivable creates a report listing open items expected to be paid within a specific time range, giving you visibility into your organization's cash flow.

If credit problems occur, MAC-PAC XE can produce multiple levels of running messages and letters to improve collectability. Cash can be applied on-line to specific documents, on account, to a list of documents, to the oldest document, or any combination.

Draft Management

MAC-PAC XE supports a wide range of payment methods, including bank drafts. The Draft Management module processes drafts received from customers. The module manages the entire bank draft process-- from draft creation and approval through application and remittance. Drafts can be created automatically when open items are created in any of MAC-PAC XE's modules. Pre-approved drafts can be applied automatically, and an automated selection process simplifies the task of remitting drafts to the bank. Drafts can be remitted electronically or on paper. Draft Management supports transactions to account for draft risk, discounts for remitting drafts not due, and the expense of claimed back or unpaid drafts. This flexible module provides all features required to do business in countries where customers commonly use bank drafts to pay their obligations.

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