5 May 2022 | Windward Software
AP Discounts and AP Advances
Explore the setup and execution of AP (Accounts Payable) discounts and advances in Windward System Five.
Learn how to utilize the setup wizard, ledger creation and assignment, supplier and payables settings, and automatic discount rules. You'll also discover how to apply these processes using a demo setup, with an emphasis on automatic discount rules and AP advances.
- Jennifer opened the webinar, introduced Eugene as the presenter, and outlined the Q&A process.
- Eugene began his presentation on setting up discounts and advances for AP, demonstrating the process using a demo setup.
- He emphasised the need to call support for help with any issues regarding the EIB features.
- He further demonstrated how to set up the AP Advanced and AP discounts through the setup wizard, emphasising the need for admin access for this process.
- Eugene demonstrated the creation of ledger numbers through the general ledger and highlighted the importance of consulting with an accountant for appropriate ledger usage.
- Eugene showed how to apply automatic discount rules, referencing various rules such as pay by due date, pay within a certain number of days of the bill date, discount by schedule, and pay by a percentage of the bill month.
- He demonstrated the application of these rules using a demo bill and showed how the system automatically applies the discount.
- Eugene further discussed AP advances, demonstrating how to input an advance amount and create a check for the advance.
- He also showed how the system automatically creates a bill for the advance and how to offset the bill using the advance.
- He noted that once the advance is used up, the system no longer prompts for AP advances.
- Finally, Eugene shared resources available for users, such as the Help Center, Customer Care Portal, Windward Learning Academy, Windward Professional Services, Emergency Support, and Webinar Archives.
- Jennifer closed the session, providing information on the next webinar and expressing availability for further questions
1:30
Hello. Good afternoon everybody. Welcome to today's Windward webinar. Thank you for joining us. My name is Jennifer and I'll be your moderator for today's presentation. At the end of the presentation, we'll, we will have some time for questions. If you want to enter them into the question box, they will be addressed at the end. Anything that we can't get to, or is, maybe, a little bit more complex, we will address offline. And we can send an e-mail, as well, if you have a question afterwards, to support at ... software dot com today. Our presentation is AP discounts, an AP advances Eugene as our presenter today. So, without further ado, Eugene, we'll get started.
2:15
All right. Perfect. Thank you so much, Jennifer. And yes, hello, everybody. Good afternoon.
2:21
So, yeah, I will be your presenter for today. We will be discussing AP discounting and advances.
2:27
So, yeah, just to set your expectation.
2:30
Um, yeah, this is all about setting up, setting up the discounts and advances for the AP, and then also, I'll be doing some demonstration and how to go about with the processes.
2:43
So if you have any concerns about issues, you know, things that are not working regarding this topic, the EIB features, rather.
2:53
So, you can just, you know, call support for help.
2:58
All right, so, Yep.
3:06
So, yeah, again, thanks to discuss AP discount setup, AP automatic discount rules, and then AB advances setup and an AP advances process.
3:18
So I will be going to my demo, so here's my demo.
3:23
So first is I will be showing you how to make sure that you have properly set up the AP Advanced and AP discounts.
3:31
So to do that, you will have to go to your setup wizard.
3:38
So you have to have admin access to be able to go into your setup wizard and make changes.
3:45
So, in here, you have to go to your suppliers and payables.
3:50
And then under your supplies and papers, you should be able to see a discount and then AP advances.
3:57
So just those two buttons.
3:59
So for the AP discounts, if you haven't set this up yet, you will see a blank field here.
4:08
So this is where your ledger for the AP discounts will, will be, so if you haven't set it up yet, you need to make sure that you need to create first the ledger specifically for the supplier discounts.
4:27
And it should not be used, you know, to any other processes, but only AP discounts.
4:33
So on my demo, My ledger for the AP discounts is 50 51.
4:40
All right. And then for the AP advances.
4:43
So this is going to be a temporary holding account. Again, this should not be used to any, you know, with any other processes.
4:50
So. Yep. I've set it up to be 10 51.
4:54
So that's for my AP advances So for those of you who has not yet more has not yet familiar with a how to create ledger numbers so all you need to do is just to go to your menu or navigator?
5:07
Go to the general ledger, leger numbers and then chart of accounts.
5:13
So in here you can see all your leger numbers.
5:18
So if you haven't created the ledgers yet So all you need to do is just to click New and then, yeah, just put the number and put a description. And that's it.
5:29
So since I've already created the ledgers, I have, again, 10, 50, 51 for my AP discount.
5:37
And then 10, 51 for my AP adventists. So if you're not sure, you can just copy the ledger that I'm using though. But if you're not sure, you can also consult your content.
5:49
So, you can both discuss on, you know, What ledger to use, but those, that just should be specific for those purposes only. All right.
5:57
So, yeah, for our demonstration. I will just pull up any random supplier here.
6:05
So maybe we will first discuss about the AP discounts.
6:11
So, for today's presentation, I will choose my supplier B.
6:19
So, in the supplier record, you go to Financial, and then that's where you can see the automatic discount rule.
6:27
So you have a drop-down menu where and you can choose the rule that you would like to be applied when doing discounts.
6:37
So, they're pretty much straight forward though, when it comes to describing, you know, how they work.
6:43
So, I think by default, it's going to be no discount. And then we have pay by due date.
6:49
So, meaning, if you have a bill, there's a due date there.
6:54
So, if you pay that bill on the exact date of the due date, then you will get the discount.
7:00
So you can set up a percentage here to how much present, you know, your discount will be, and then we have pay within person, the days of build date.
7:13
So this is the most common one.
7:15
So it means: if you pay within a number of, you say, for example. Let me just use this one.
7:22
So you can specify your percentage.
7:24
Say, for example, That's stupid, 20% discount, and then say for example, if you put five days, So that means that if you are able to pay your bill Within five days, so you will get the 20% discount.
7:41
So that's how it works.
7:43
And the next one is discount by schedule.
7:46
So in here, you can specify schedules, basically. So you can put them days, and then the discount brisson.
7:53
So you can say, maybe five days, you will get 5% discount, 10 days you will get 2% discount, 15 days, you can get 1% discount and so on.
8:05
So, yeah, that's discount by schedule.
8:08
And then we have pay by percent D of bill month.
8:12
So you have the ability to specify the exact day of the month, uh, yeah, for the discount.
8:22
So say for example, if you, if you're if you have a bail and then you will have your bill date as May sixth which is tomorrow. So if you pay your bill tomorrow so you will get your discount.
8:37
And then we have pay based, sorry, B by, yep. This is actually present day of month after bill month. So this is for the next month.
8:49
So if you have a bill, then then I built a, it's a free sample May fifth today's date. So, and then you will specify here fifth of the next month.
9:00
So if you pay your bill on the next month on the fifth, so that's where you will get the discount.
9:05
So I will not be doing demonstration on each one of them. Maybe I can just pick one, which is the most common one.
9:12
So say for example this one here, so pay within five days of build date, you will get 20% discount.
9:19
So if you want to explore the other Rules, so you can just go ahead and you know, pull up your system five training, and then you can play around with it, get more familiarized with you know how these rules are no Apply. So Yep.
9:36
So again for our demonstration I will choose pay within percent the days of bill date, so that's within five days You'll get the 20% discount. So Yeah, let's put it to a test, so I'm just going to say this for now.
9:58
All right, So now, we will test it out. So let's pretend to create a bill.
10:06
And then our supplier is a supplier B.
10:15
OK, so, I'm going to put them bill number here.
10:23
OK, so, let's say one thousand.
10:29
So that's our bill amount, and then our Date, here is today's date, and then the due date is going to be, OK, let's just move this.
10:45
Maybe we can put it tomorrow.
11:01
And save it. So now, if you pay the bill.
11:08
Kilbourne?
11:21
It's again, within five days of building, OK, so let's close this.
11:29
Safe. Now we decide to pay the bill for supplier B.
11:35
So you can already see there the discount, so you can choose a case.
11:40
Say, for example, we choose future date seven.
11:45
So you will always still have the disk out there applied automatically, So you don't need to do it manually.
11:51
So all you need to do is just to pay what to do, which is already discounted.
11:55
So your one thousand , you will just be 800.
12:02
So you can then just books and print.
12:07
So OK. Let's not think that way.
12:11
And then, now actually go to your bills.
12:13
Just want to show you, what's going to happen to your bill. So there's the bill So it's 800, which was originally one thousand.
12:22
So there, the system automatically added the AP discussed Niger 50 51 removing 20% of the 1200.
12:33
So that's so you don't have to do this manually. It's a system who will automatically do it for you?
12:39
OK, so that's for the AP discounts.
12:44
So now we'll go ahead with the AP advances So for the AP advanced just going to pick Another supplier he admitted can do is fire.
12:59
All right.
12:59
And then since we've already set up our AP advanced ledger in the setup wizard, we have this tab here called Advance S, I'm not sure if you can see it here.
13:10
So, this used to be not in here, if you haven't set up your advanced this yet.
13:16
But, since we're done with it, so, we can see the Advanced tab.
13:21
So, in here, you have a field here where you can input your advanced amount.
13:27
So, this is when you pay your suppliers in advance without, you know, without getting the bill see it.
13:33
So, say, for example, let's pretend to give to our supplier 100 as an advance payment.
13:41
So, here, you can put your description, and then the book month, and then you can also specify the date.
13:46
So, this is the date of, you know, when you, when you actually gave your advance to advance payments, your supplier.
13:54
So, I'll just leave it as S, and I'm just going to go and click the create events.
14:00
So what the system does is, it automatically creates a check coming out from your bank for the specified amount, which is 100.
14:11
So, yep.
14:14
And then all you need to do is just to post.
14:18
So, poston, because we want that to be reflected in our bank reconciliation.
14:26
So, as well as the automatic creation of the check, the system also created a bill difficult to bills.
14:33
So, here, we have, Advance.
14:37
And then if we go, Yep, I'm just going to show you.
14:43
So the bill actually looks like this.
14:50
So again, this is something that the system auto created for you, so you don't need to do this.
14:56
So I'm just going to show you, so it uses the 10 51 ledger, which we specified for the advances and then there's the amount there. And it's paid already since already since it has already come out of the bank. So how to use this? So now, let's pretend to receive bills.
15:15
Already from the supplier. So, let's add a bill.
15:18
I'm just going to pick the same supplier, and then you.
15:25
We'll get this popup so the system automatically reminds you that you have advances and do you want to use it?
15:33
So, I will say yes.
15:36
Then, the system will automatically add a 10 51 ledger on the bill.
15:41
So, it's got . Say, for example, the bill is only 50.
15:49
So, you don't have to use the whole 100.
15:51
So, you can edit this digest.
15:54
Pay what you said, which is only 50.
15:59
So, there, so your balance will be zero, because your bill has been.
16:06
Basically, offset that. I mean, yeah, it's been offset.
16:13
Offset that by this 10, 51 account.
16:17
So, you don't need to pay, because it's zero. Just save it.
16:23
I forgot to put, let's say, 1, 2, 3. Save?
16:27
OK, that's fine.
16:30
And then, if another bill comes along, so let's add a new bill for the same supplier.
16:37
Again, you will get the prompt. So you still have about 50 left. So you dew. You want to apply it to? Yes.
16:46
Then, see your bill again is 50.
16:50
So you have a zero bail, no need to pay, just save it.
16:55
OK, I always forget the bill number So it's a good thing that the system keeps reminding us to put a bill number. All right there.
17:03
So now, basically, we have used all our advances.
17:07
So let's create another bill for the same supplier just to see if we still get the prompt and Nope, no more promise for AP advances, meaning you have used up all your advances.
17:21
So. yep. That is it.
17:24
And again, if you want to create another ..., just go to your supplier and then just add your advances.
17:32
Alright, so that's it for now, and, yeah, I hope I've made my explanation or presentation clear. But if you have questions, you can ask that later on.
17:44
But before that, I'm just gonna put some slides here.
17:47
So we have resources available, so, online resources that for your consumption. So we have the Help Center.
17:55
All you need to do is just to pull up your browser and go to ... software dot com slash help.
18:00
And then we also have customer care portal.
18:03
So just go to Support when we're software dot com So that's where you can you know, search for a solution articles and then that's also where you can submit your support tickets.
18:13
And then we also have the Windward Learning Academy so just go to the academy that went on cloud dot com.
18:21
And then, if you need one-on-one training, like from scratch or overview about everything and winward system five, so you can avail our whitmore Professional Services.
18:33
So, all you need to do is just to contact your Account Manager for the quotation or you can call the regular Support Line, 1806635750, and then we also have immigrant emergency support.
18:47
So, if you have an entire system down, and able to take payment, you cannot log into system five, or you are recovering from a power outage. So, just go to ... software dot com slash emergency, and then send us an emergency ticket.
19:07
OK, and then we also have when webinar archives, So you have the ability to access past webinars. So that's if you already have signed up for the webinar's, which I believe you do. Then yeah, just head over to when we're software dot com slash webinars and you can see all the past webinars including this one.
19:29
So, if you want to review later so, you can just access it anytime and now. yep, we're down to our questions and answers. Jennifer.
19:42
Great. Well, I'll give it a couple of moments. If you have any questions, please enter them into the question box.
19:50
We've got our next webinar coming up May 19th we'll be discussing multi-level Case Breakdown.
19:57
We'll discuss case breakdown and what it's all about. You'll learn how multi-level Case breakdown allows you to create, modify and delete items in the list of linked items used for automatic multi-level case breakdowns.
20:10
So, that will be two weeks from today.
20:13
Look forward to seeing you guys there.
20:22
Know, we don't have any questions yet, so if you've got some questions, just type them into the question box now. But, if there are no questions, we can finish up the presentation for today. Like I said, if you have questions afterwards, you can e-mail support at winward software dot com, and we can help you find the answers that you're looking for.
20:53
OK, you have a question question, asked a question from Steve about recording of this session.
21:00
You can access the, the session again on the webinar archives, on the website, ... software dot com slash webinars. I believe it'll be uploaded within half an hour an hour, maybe depending on how long the assistant takes, but it's relatively relatively quick. So you'll be able to rewatch it today if you if you'd like a refresher if you want to share it with your staff.
21:39
Session you mentioned in two weeks. Sherry, yep, we can give you some more information on that. Again, when we're at software dot com slash webinar, you can sign up for that webinar there. And there's some, a little description of what we'll be discussing.
22:01
All right. Well, I don't see any further questions come in, but make sure you reach out to us if there's anything that comes up later. If you're reviewing the webinar on the website, just send us an e-mail, and we'll be happy to answer your questions.
22:14
Thank you, Eugene for your presentation today was great. Thank you for, and then we'll see everybody in two weeks. Thanks for joining us. Thank you, guys. Take care. Stay safe.
22:26
Bye!
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